Chartered Financial Planning firm Fairstone has signed up the eighth firm this year to its buy-out programme – West Midlands-based Complete Financial Planning.

The new deal brings the total of funds under management added through Fairstone’s ‘Downstream Buy-out’ programme so far this year to more than £1.2bn.

Complete Financial Planning adds more than 1,600 clients, 11 advisers and 10 support staff to Fairstone, along with gross fee income of £1.5 million and funds under management of more than £140m.

Fairstone’s buy-out model typically sees firms on the integration scheme for two years before full acquisition.

Complete Financial Planning is based in Hereford and specialises in pension planning and investment management.

Fairstone chief executive Lee Hartley said: “The team at Complete Financial Planning bring a first-class and efficient approach to their work, centred around building quality long-term client relationships, making them an excellent fit for Fairstone.”

Company principals at Complete Financial Planning, Mark and David Rawlings, said that the shared cultural values as well as putting clients first were deciding factors in choosing Fairstone.

Mr Rawlings said: “As one of the UK’s largest Chartered Financial Planning firms, Fairstone can also provide the financial strength and stability that a smaller firm like ours needs to grow and prosper within a sector that continues to face significant challenges.

“The Fairstone proposition appealed to us as it is an opportunity to work closely with Fairstone to build our business together. It also provides a valuable opportunity to benefit from working with a large and expanding team of Chartered Financial Planners.”