Chartered Financial Planner Fairstone has acquired Devon IFA firm Sabre Financial, adding £200m in Funds Under Management to the group.

The deal, for an undisclosed sum, adds Sabre Financial’s nine advisers and staff to the group as well as more than 800 clients.

Sabre principals Stuart Read and Dale Came will join Fairstone.

The takeover boosts Fairstone’s total FUM to more than £13 billion.

The Devon-based firm joined Fairstone’s Downstream Buy Out progressive acquisition model in September 2020.

Sabre was established in 1997 and focuses on pensions and investments.

Stuart Read said: “After discussing our objectives with a number of organisations, we felt that Fairstone was the only firm who genuinely understood the reasons behind our success as a Financial Planning business, and crucially, would support our growth.

“The proposition really appealed as our clients do not have higher costs forced upon them nor are they obligated to move into different investment solutions. This allows us to strive for excellence in the advice market whilst remaining independent.”

Fairstone CEO Lee Hartley said: “Sabre Financial struck us as a dynamic firm, with an excellent reputation for serving clients over many years, making a great addition to the Fairstone family.

“Bringing Sabre into the group extends our nationwide footprint and the pace of their growth to date demonstrates their alignment with our model.” .

North East-based Fairstone includes one of the UK’s largest Chartered Financial Planning firms. The group has over 40 locations across the UK with a head office in the North East and City office. It oversees £13.5bn in for more than 45,000 wealth clients.