Consolidator Fairstone has added another £250 in assets under management with the completion of its fourth acquisition this year.
Buckinghamshire-based Hase Osborne Asset Management, one of the firms in Fairstone’s ‘downstream buy out’ programme, has now been fully merged into Fairstone, which has taken control of its 14 staff and 650 clients.
Hase Osborne currently generates revenue of around £2.1m on its £250m in assets.
Fairstone chief executive Lee Hartley says: “A number of businesses have joined us this year and the common factor is that clients are never commoditised and their interests are protected.”
Hartley says that the firm’s “whole-of-market proposition” and the ability to manage client portfolios through a “low-cost discretionary service” were some of the key opportunities for acquired businesses.
Fairstone recently secured the hire of former Intrinsic and True Potential compliance officer Sheriden Davy, which the firm said was a “significant investment” into a risk and compliance framework to build future growth on.