London advice firm Premier Portfolio Financial Services has joined Fairstone’s acquisition programme, in a deal that will add £40m assets under advice to the consolidator.
Premier is now part of Fairstone’s downstream buy-out model and it is expected it will fully join the consolidator before the acquisition is completed.
The deal brings four advisers and total ongoing fee revenue of £550,000 to Fairstone.
Premier principal Adam Salomon says: “We wanted to put in place a plan for the business that will protect our valued client relationships long into the future.”
Fairstone chief executive Lee Hartley adds: “We are very pleased to bring another successful, high quality business into our downstream buy out programme.”