Fairstone has signed up two more firms to its downstream buy out (DBO) programme.
The deals secure more than 720 clients, 16 advisers and support staff into the business, as well as gross fee income of over £1.5m ($1.86m, €1.72m) and funds under management of £200m.
Lee Hartley, Fairstone chief executive, said: “The structure of our DBO programme ensures we partner with firms with an appetite to grow and develop and we look forward to working with both companies to help them build their businesses further.”
It has brought in Brantwood Financial Planning, based in Huddersfield, which specialises in tax planning, IHT and retirement planning.
It has two advisers, two support staff and 140 clients. The firm brings a total fee income of £650,000 and close to £140m in funds under management.
Fairstone has also welcomed Durham-based Advanced Financial Services, which specialises in pensions and investments.
It has four advisers, eight support staff and 583 clients, as well as two offices.
The firm has a total fee income of £900,000 and more than £60m in funds under management.
Fairstone’s DBO 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.
Most recently, Newcastle-headquartered Fairstone Group signed up Kent-based Goodman Chartered Financial Planners and East Devon Associates to its DBO scheme.
Hartley added: “We are always looking for strong, high quality businesses with ambitious growth plans to join Fairstone, and whilst we recognise that we are all moving into a different climate with challenges ahead, we are in a strong position and we will continue to onboard new DBO firms at our forecasted volume.”