Moneygate Group is set to rebrand its customer-facing advisory business to Fairstone Financial Management as part of its expansion plan.
The rebrand comes after Moneygate launched its own discretionary fund management service, Marketstar, earlier this year and is part of a move to overhaul the corporate image of several new divisions of the company.
Moneygate Group announced plans to launch a DFM service in February this year after buying Somerset-based DFM Watermark Financial Solutions for an undisclosed sum.
From 1 August, Moneygate Financial Services Ltd will become Fairstone Financial Management Ltd and Equus Independent Financial Management Ltd will be renamed Fairstone Financial Management (City) Ltd to coincide with the move to their new offices in King William Street in the City. Moneygate Group Ltd will remain unchanged and will continue to act as the holding company for the group.
Moneygate’s network of 150 IFAs will adopt the Fairstone name from 1 August. It plans to double its adviser numbers to over 300 in the next two years.
Lee Hartley, group chief executive of Moneygate, said: “Our business has grown and diversified and it became clear that we needed a fresh image to promote our services to consumers across the country.
“The re-brand will be underpinned by some exciting marketing activity and sponsorship deals to quickly establish the name in our target market.”
In March of this year Moneygate took a minority stake in high net worth wealth management firm Group Rapport.
