View more on these topics

Consolidator adds £70m assets with fourth 2018 deal

Consolidator Fairstone has bought Harefield-based IFA Robert Goodman Associates adding £70m of assets under advice to the business.

The firm has 1,000 clients and revenue of £800,000.

It was part of Fairstone’s downstream buy-out model and the completion of the deal marks the end of an acquisition process that started in 2016.

RGA company principal Robert Goodman says: “Joining and integrating with a larger, reputable and chartered firm has helped us to strengthen our business whilst allowing us to remain independent and further improve the levels of service to our clients.

Fairstone Group chief executive Lee Hartley says: “We are delighted to have finalised our fourth full acquisition of 2018 with another leading IFA firm. As a firm, RGA is dedicated to quality service.”

This is the fourth acquisition by Fairstone this year. Other recently acquired firms include Sims Financial Planning and Zimb Johnson Bespoke Financial Planning.

Fairstone chief executive Lee Hartley told Money Marketing in February the group has between eight and 10 acquisitions in the pipeline for 2018.

Recommended

We'll do great things together
1

Which consolidator has the winning model?

As consolidators continue to acquire advice firms, analysts are assessing the financial position of key firms in the market to see how long the buying spree can continue. Aim-listed AFH continues to lead the way in volume of acquisitions, with 14 in the year to October 2017, its recently released accounts show, and eight so […]

AFH Alan Hudson 700

Consolidator snaps up Yorkshire IFA

Consolidator AFH has bought York-based advice firm Corville Financial Services for up to £2.9m. The acquisition is AFH’s eighth so far for the financial year. AFH has already paid £1.47m with the rest of the projected purchase price to be paid in two lots over 26 months, subject to performance. Debbie and Nick Burchall will […]

consolidator

Consolidator Fairstone targets two more firms for acquisition

Consolidator Fairstone has added another two firms to its acquisition programme adding £220m assets under advice to the business. Yorkshire-based Utopia Financial Planning and Sovereign Wealth Management, which has offices in Bath and Bristol, have joined Fairstone’s downstream buyout model and will fully join the consolidator before the acquisitions are completed. The two businesses will […]

To be and not to be – Multi asset investing with conviction

At Pictet Asset Management we believe active management of asset allocation is the most important generator of returns. What is not to be in our portfolio is just as important as what is to be because good performance is determined as much by the assets you avoid as by those you hold. The FP Pictet Multi Asset Portfolio managers are not wedded to any particular […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. £70Million of assets between 1,000 clients = £70,000 average per client.
    £800,000 income between 1,000 clients = £800 average per client.

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com