National Financial Planning firm Fairstone has acquired South West-based Station Financial IFA and County Durham-based Advanced Financial Services.

The deals add over £380m in assets under management and £4m in annual revenue.

They also bring 2,000 clients, 17 advisers and 19 support staff.

Both firms joined Fairstone under its downstream buy out model which allows for a period of integration before full acquisition.

Both deals have been completed.

Station IFA has three offices in New Milton Hampshire, Bridgend and Chepstow in Wales.

The acquisition boosts Fairstone’s presence in Wales to five offices, and adds a fourth office to the firm’s footprint in the South West.

Leighton Hawkins, co-principal at Station said: “Fairstone’s unique acquisition proposition was perfect for us as it gave us the time we needed to ease into the sale without compromising any of our stakeholders. By taking the deal slowly and doing it properly, we have managed it with minimum disruption to our colleagues and most importantly, our clients.”

Advanced Financial Services has two North East-based offices in Newton Aycliffe and Consett.

The acquisition doubles Fairstone’s presence in County Durham.

Philip Bousfield of Adanced said: “As a small firm, we were looking for the strength of a national brand to support us in scaling our business. Fairstone provided a growth framework while enabling us to retain what was most important to us, the personal relationship we have with our clients. Joining Fairstone has provided us with the resources we need to ensure that we continue to offer our clients the best possible independent financial advice, both now and in the future.”

Fairstone oversees £15bn in funds under management on behalf of more than 55,000 wealth management clients.

Lee Hartley, Fairstone CEO, said: “I’m delighted to welcome the teams from Station and Advanced. Both are trusted, client-centric firms with a long track record of success and importantly both firms share our appetite to grow and develop, making them a perfect fit.”