Consolidator Fairstone has acquired Darlington-based Belasis IFA. The addition brings 1,250 clients, £500,000 in gross fee income and £50m funds under management to the national firm. Five advisers and two support staff join Fairstone as part of the acquisition.
Fairstone chief executive Lee Hartley says: “Having worked with Belasis IFA through our proprietary downstream buyout programme over a number of years we are delighted to complete the final acquisition with the business.
“The whole team at Belasis have a shared ambition with Fairstone to further grow their operation and with our support in areas such as client activation, marketing, compliance and regulation, we are able to help partners such as Belasis achieve very significant levels of organic growth.
“We are delighted to finalise this deal and bring such a well-respected business into Fairstone. This marks an outstanding end to the year and underlines our intent to partner with high-quality firms who share our culture as well as our approach to ensuring client interests are never compromised as a result of a sale.”
Fairstone makes third acquisition of 2018
Belasis IFA company principals, Stewart Hodgson and Craig Dyball, say: “Over the years we have developed a very strong service and investment proposition. As such, we wanted to find a well-established firm with strong ethical standards to support our proposition and help us to build our business, without eroding the high levels of service we provide to our clients.
“Fairstone’s general ethos and philosophy thoroughly enhances this attitude for the benefit of our clients. We look forward to working even more closely together to allow the business to reach its full potential.”