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Consolidator completes fourth IFA acquisition in nine months

Handshake-Business-Finance-Deal-Corporate-700.jpgConsolidator 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.

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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.

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