The deals take Fairstone’s total number of advisers across the UK to over 300, servicing 40,000 private clients with over £7bn of assets.
The latest three firms to join Fairstone are:
• Sheffield-based pensions & investment specialist Campbell Harrison
• North Kent & South East London’s Mortgage Find
• Harpenden and Southport based Pensions & Wealth Management Services
Alex Campbell heads up Campbell Harrison. He said: “The biggest threat to small IFAs is PI Insurance and the FSCS. Joining Fairstone means I can concentrate on the part of the job I enjoy, helping clients, without worrying about the longevity of the company.”
Mortgage Find managing director Mark Alexander, who has a team of 14 advisers, said: “We have found the integration process extremely simple and we look forward to making the most of our new partnership.”
Pensions & Wealth Management Services bosses David Halsall and Brian Brett said they were primarily attracted by Fairstone’s culture and proposition. Mr Halsall said: “Brian and I have spent some time looking for a structure that will reduce our administrative, compliance and regulatory responsibilities and we are delighted to have found this with Fairstone. We like the people and the culture and, not only can we spend a great deal more time in the future working directly with clients, but also we have a proposition that offers a long-term future for our younger members of staff.”
The deals have been completed through the Fairstone Downstream Buy Out programme. Collectively, the deals bring revenue of over £3.25 million and additional funds under advice of approximately £290 million.
Lee Hartley, Fairstone Group CEO, said: “We are very pleased to have three companies of such quality join the group where they will be able to leverage the strength of Fairstone’s system efficiencies, which will benefit both the front and back office, saving valuable time for advisers and ensure clients receive the very best financial advice. For us, it is vital to have both a business and cultural fit with the companies who decide to join us. Having spent time with the teams at Campbell Harrison, Mortgage Find and Pensions & Wealth Management, we are incredibly excited about our future working together.”