Lincolnshire-based IFA Zimb Johnson Bespoke Financial Planning has become the latest adviser acquisition for consolidator Fairstone.
Four staff will join Fairstone, bringing £200m in funds under management and total fee income of £850,000.
The firm is the second IFA to have been in the consolidator’s downstream buy-out model to be fully acquired by Fairstone so far this year, with another eight planned over the course of 2018.
Zimb Johnson adviser Leigh Johnson put the decision to join Fairstone down to increase regulation, compliance and reporting.
He said: “Through working with Fairstone, we were offered significant support in these areas, combined with state-of-the-art technology and back-office systems.
“This merger is extremely exciting for us and Fairstone’s financial resources will allow us to develop the business and continue to provide high-quality and dedicated advisory services to our clients.”
Fairstone chief executive Lee Hartley says: “Partner firms tell us time and again that early integration makes an enormous difference not just to the business, but also to their clients. The DBO programme ensures that this process takes place before the point of sale, meaning our partners are already enjoying the benefits of our commercial, legal, compliance and customer acquisition support long before the completion of the DBO process.”