UK financial planning firm makes double acquisition

Deals add around £250m in funds under management

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Newcastle-headquartered Fairstone Group has kick started 2022 with the acquisitions of Scotland-based East2west Financial Services and Huddersfield-based Brantwood Financial Planning for an undisclosed sum.

The deals extend the group’s reach into the Scottish Highlands and Yorkshire, and Fairstone chief executive Lee Hartley said there are several more deals in the pipeline.

Specialising in pensions and investments, East2west Financial Services is run by principals John Bruce and Moira Ness. The acquisition brings 1,000 clients into the group, as well as three advisers and three support staff.

Brantwood Financial Planning specialises in financial planning for high net worth individuals and SME business owners, and is run by principals Paul Dickinson and Christopher Brown.

The acquisition brings more than £150m ($201m, €180m) funds under management, and four staff into the group.

Altogether, the deals add £250m funds under management to the group.

Further expansion

Both firms partnered with Fairstone through its downstream buy out (DBO) acquisition model, which integrates IFA firms into the group, prior to final acquisition.

Hartley said: “We have a truly differentiated business model which is proving to be an attractive proposition across the sector, as it provides the framework to work in partnership with dynamic, culturally aligned businesses and support them to be the best they can be.

“From an acquisition perspective we want to enable firms to deliver long-term organic growth – removing them from risk and compliance workload, providing access to new customers, funding the acquisition of new advisers and local practices and providing centralised support. We’re really investing into growth.

“East2west and Brantwood are both quality firms with first-class individuals, who share our commitment to exceptional service and vision to flourish. Over the past two years we have worked closely with the teams at both firms, supporting their progression and funding their organic growth.

“This has enabled both firms to maximise value before crystallising a structured sale of their businesses at a premium valuation. We go into 2022 in an extremely strong position and look forward to announcing further expansion within the group.”

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