Skip to content
International Adviser
  • Contact
  • Login
  • Subscribe
  • Regions
    • United Kingdom
    • Middle East
    • Europe
    • Asia
    • Africa
    • North America
    • Latin America
  • Industry
    • Tax & Regulation
    • Products
    • Life
    • Health & Protection
    • People Moves
    • Companies
    • Offshore Bonds
    • Retirement
    • Technology
    • Platforms
  • Investment
    • Equities
    • Fixed Income
    • Alternatives
    • Multi Asset
    • Property
    • Macro Views
    • Structured Products
    • Emerging Markets
    • Commodities
  • M&A Deals
  • Best Practice
    • Best Practice News
    • Best Practice Awards
  • Media
    • Video
    • Square Mile Research
  • My IA
    • Events
    • Directory
    • IA Tax Panel
    • IA Intermediary Panel
    • About IA

ANNOUNCEMENT: Read more financial articles on our partner site, click here to read more.

SIGN IN INTERNATIONAL ADVISER

Access full content on the International Adviser site, access your saved articles, control email preferences and amend your account details

[login-with-ajax]
Not Registered?

UK financial planner starts 2020 with double M&A swoop

By Robbie Lawther, 28 Jan 20

Deals bring over £160m in funds under management to the firm

Newcastle-headquartered Fairstone Group has bolstered its presence in the south and east of England with the acquisition of two IFA firms.

This comes after the business made eight acquisitions in 2019 via its downstream buy-out (DBO) model, which integrates advice businesses into the group within a two-year period.

It has bought Hamlyn Financial Services in Norfolk and Hertfordshire-based Wagstaffs Wealth Management through the scheme,

Lee Hartley, chief executive of Fairstone, said: “Finalising these deals brings two more valued businesses into Fairstone and is a good start to our growth strategy for 2020.”

Numbers

Hamlyn Financial Services specialises in pensions and investments and brings around 2,500 clients into the group, along with six advisers and seven support staff.

The acquisition also secures gross fee income of £830,000 ($1.08m, €981,169) for Fairstone, as well as £113m in funds under management (FuM).

Also, the deal for Wagstaffs Wealth Management brings 330 clients into the firm, along with three advisers and four support staff.

Fairstone will gain more than £1m in gross fee income and around £150m in FuM.

The financial terms of the deals were not disclosed.

Most recently, Fairstone bought Stockton-based Chilli Financial for an undisclosed sum in December 2019.

Tags: Fairstone

Share this article
Follow by Email
Facebook
fb-share-icon
X (Twitter)
Post on X
LinkedIn
Share

Related Stories

  • Industry

    II Connect 2025: Video highlights

    Latest news

    II Connect 2025: Highlights

  • Companies

    AWIM adds Head of International Wealth Management

    Companies

    Canada Life owner announces reshuffle at top of UK, Europe business


NEWSLETTER

Sign Up for International
Adviser Daily Newsletter

subscribe

  • View site map
  • Privacy Policy
  • Terms and Conditions
  • Contact

Published by Money Map Media – part of G&M Media Ltd Copyright (c) 2024.

International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.