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Fairstone secures £200m FUM with Leicester purchase

Consolidator Fairstone has acquired Leicester-based Brett & Randall Financial Services in its second acquisition for 2019.

The deal was completed under Fairstone’s downstream buy-out model which integrates independent firms into the group.

Brett & Randall specialises in investment and retirement portfolios and will bring 420 clients under the Fairstone umbrella.

The consolidator also secures a gross fee income of £1.3m and £200m in funds under management.

Fairstone chief executive Lee Hartley says: “We are delighted to finalise this deal and bring another valued business into Fairstone. This deal continues our excellent start to 2019.”

Hertfordshire-headquartered Pensions and Wealth Management was acquired by Fairstone in February – the consolidator’s only other deal for the year thus far.

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