UK-based wealth manager Fairstone has added Richardson Premier Wealth, marking the 100th partnership under its Downstream Buy Out (DBO) programme.

Richardson Premier Wealth is a family-owned business headquartered in Halifax, West Yorkshire, with additional footprint in Glasgow.

The firm advises more than 200 clients and manages just over £50m in assets.

Richardson Premier Wealth principal Paul Richardson said: “We’re thrilled to be joining Fairstone. From the first conversation we had with their team, it was clear that their focus on putting the client first and creating long-term, sustainable growth was a perfect fit for us.”

The DBO model provides partner firms with capital investment, operational resources, and regulatory support, enabling them to focus on performance without the burden of back-office or compliance tasks.

The programme has contributed to Fairstone’s growth, with the firm now managing $20bn in assets for over 60,000 wealth clients.

The consolidator has set a target to double this to £40bn ($54.8bn) by the end of 2030.

To support its growth ambitions, Fairstone is refining its DBO model to focus on higher valuations for wealth advisory firms.

Upgrades include a “dynamic” valuation framework linked to business performance and client outcomes.

Fairstone CEO Lee Hartley said: “We are absolutely delighted to welcome Richardson Premier Wealth Ltd as the 100th DBO firm to join Fairstone.

“It is a high quality, trusted independent financial adviser which really looks after its clients and is firmly focused on sustainable growth, making it a perfect partner for us.