View more on these topics

Fairstone double acquisition secures 2,700 new clients

Handshake-Business-Finance-Deal-Corporate-700.jpgAdvice firm consolidator Fairstone has followed up on its Leicester acquisition three weeks ago with the purchase of another Leicester-based firm, Bankfield Financial Advisers.

Fairstone has also acquired Devon-based South West Financial Planning.

The two purchases through the consolidator’s downstream buy-out model follow that of Brett & Randall Financial Services at the start of May.

The two acquisitions bring the total number of Fairstone purchases for 2019 to four.

Both SWFP and Bankfield specialise in holistic planning and bring a further 2,700 clients to the group along with 12 advisers.

The acquisitions secure a gross fee income of £1.5m for Fairstone and bring funds under management of £120m under its umbrella.

Fairstone chief executive Lee Hartley says: “Fairstone also places a focus on firms with an appetite to grow and develop and this is an ambition shared by both Bankfield and SWFP. We are delighted to finalise these two deals and bring two further respected businesses into the group.”


Fiona Tait: Looking at intergenerational differences is a start

The FCA’s report into the wealth of baby boomers, Generation X and millennials makes a good start by entitling itself Intergenerational Differences rather than Intergenerational Fairness. There seem to be many commentators who like to pit one group against another, so millennials have been “cheated” out of their rights by “greedy” baby boomers, who don’t […]


7IM confirms new CEO after Tom Sheridan departure

The FCA has approved the appointment of former Barclays managing director Dean Proctor as chief executive of Seven Investment Management. Proctor replaces Tom Sheridan who announced his departure from the firm in March after 17 years. 7IM, which launched as a discretionary fund manager in 2002, currently has £14bn in assets under management and also […]


Advisers still unable to match demand for profession

Six in ten adults feel they would benefit from regular financial advice, but just 15 per cent see an adviser regularly, according to Openwork. The research from the network says the number of advisers is still lagging when compared with demand. Its findings still reflect positively on the profession’s necessity moving forward, it adds. There […]

Andrew Tully: Steps to ease your PI pain

The number of defined benefit transfers has reduced from the peak we saw a year or so ago, but demand from clients who want to consider if a transfer is suitable remains high. Advisers need to make sure their processes keep up to date with the continuing changes from the FCA. However, it is the […]

Global equities: time to de-risk?

While equity valuations have doubled since the financial crisis, Simon Edelsten explains that there are still pockets of value. But not where you might think Macro-economic uncertainty is causing turbulence in equity markets. Artemis Global Select Fund manager Simon Edelsten says his investment themes are taking him in a different direction to some of his peers – away […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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