Acquisitive wealth management and Financial Planning firm Fairstone has acquired Belfast-based ASM Financial Planning with over £250m of funds under management.

The completed acquisition brings 1,500 clients, six advisers and nine support staff to Fairstone.

Based in Belfast, ASM is a whole-of-market advice firm specialising in advice and management of investment and retirement portfolios.

Fairstone’s progressive acquisition model sees adviser firms gradually integrated with the group over a 2-3 year period. The acquisition model has seen 54 firms incorporated within Fairstone since 2011.

Haydn Gibson and Keith Storey, principals at ASM Financial Planning, said the acquisition by Fairstone appealed as it enabled the firm to continue to provide an independent offering to clients, while also benefitting from being part of a larger organisation.

Lee Hartley, CEO of Fairstone, said: “We are delighted to complete the final acquisition of ASM Financial Planning, having worked closely with them throughout the integration phase.

“Their focus on quality advice and exceptional service is exactly what we are looking for in a business and their client-centric approach makes them an excellent fit for Fairstone.”

The acquisition is the latest in a run of acquisitions made by the acquisitive wealth management and Financial Planning firm. Last week Fairstone began the acquisition process for Nottingham-based Financial Planning firm James Ryan Thornhill via its downstream buy out programme. 

In May Fairstone completed the acquisition of East Midlands-based Sterling Asset Management, a whole-of-market advice firm based in Leicestershire, adding 1,000 new clients. 

Fairstone is based in Newcastle and operates from 42 offices in the UK with 380 regulated advisers. It advises on £11bn in Funds Under Management for 40,000 wealth clients.