ANNOUNCEMENT: UK Adviser is now PA Adviser. Read more.

UK financial planner agrees M&A deal with IFA firm

It will bring over £160m in funds under management to the group

|

Fairstone has signed up Nottingham-based IFA firm James Ryan Thornhill to its downstream buyout (DBO) programme.

The advisory firm specialises in pension planning and investment management.

The deal will bring more than 1,000 clients, five advisers and eight support staff to the wider business, as well as gross annual fee income of around £1.2m and funds under management of over £160m ($224m, €187m).

The agreement is at the start of this phased pre-acquisition process, which will also enable both firms to fully align in terms of culture and systems, while James Ryan Thornhill will also be able to take advantage of the regulatory, technical and operational support that Fairstone provides.

Lee Hartley, Fairstone chief executive, said: “The team at James Ryan Thornhill are committed to building quality long-term client relationships and their focus on quality advice and superior service is exactly what we are looking for in a business.

“Within Fairstone, we work hard to ensure our proposition gives firms the framework, funding and support they need to significantly grow their businesses, without compromising on client service or independence. We look forward to working with the team at James Ryan Thornhill through our DBO programme to transform their business into the very best version of itself that it can be.”

DBO scheme

Further supporting Fairstone’s measured growth plan, eight firms have joined its downstream buy out (DBO) programme so far this year, bringing more than £1.2bn in funds under management to the wider business.

The programme continues to be a core driver of growth for the business, reversing the traditional buy and build approach, with consolidation playing a key role in a firm joining the programme.

The scheme integrates advice businesses into the group within a two-year period.

Latest Stories