View more on these topics

Fairstone buys Leeds IFA in third acquisition of 2016

Business-Handshake-Meeting-Deal-Low-Angular-700x450.jpg

Leeds-based Howton Financial Services has become the third firm to be acquired by consolidator the Fairstone Group in 2016.

Fairstone announced it fully acquired Howton today, though the consolidator’s model means it will initially take only a minority stake in the IFA and integrate it into Fairstone over a number of years.

Fairstone first partnered with Howton three years ago. Another 22 adviser firms currently have a similar partnership with Fairstone with a view to complete acquisition at a later date.

Howton Financial Services managing director Paul Howard says: “In joining Fairstone we were able to transfer the somewhat onerous compliance and regulatory responsibilities to them which allowed us to commit greater time and resource to client care and service.”

Fairstone Group chief executive Lee Hartley says: “Having joined Fairstone, we have given Howton back the time previously spent on compliance and regulatory issues allowing Paul and his team to fully focus on their clients.”

In November, Fairstone announced it was buying Bankfield Financial Advisers through the same model as Howton and, earlier this month, it confirmed its acquisition of Leicestershire-based My Wealth Management.

Recommended

Is this the endgame for the current mergers & acquisitions boom?

Last year, worldwide mergers and acquisitions (M&A) rose to an unprecedented $4.7tn, according to Thomson Reuters, a 41 per cent increase over 2014. Anthony Forcione, senior equity analyst at Loomis Sayles, an affiliate of Natixis Global Asset Management, looks at what’s been driving this particular wave of mergers. Click here to view full article: Loomis-Sayles

AFH Alan Hudson 700

AFH eyes acquisitions as profits rise 42%

Consolidator AFH has seen pre-tax profits rise by 42 per cent to £860,000 in the first half of 2016. Revenues have also grown by 42 per cent, to £11.7m up from £8.22m in the same period of 2015. In addition, funds under managent grew 44 per cent, to £1.9bn up from £1.3bn. The firm adds […]

Childcare - thumbnail

Three questions for employers…

The Family and Childcare Trust’s annual survey has been widely reported in the media and the two headline figures were these: the average cost of a nursery place for a child under two has risen by 33 per cent since 2010; and the costs have risen by five per cent in a single year.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment