RGA IFA has joined the Fairstone Group, bringing revenue of £750,000 into the company along with funds under management of around £65m.
Under the terms of the deal, Fairstone will fully acquire the RGA business following an integration period.
Robert Goodman, company principle at RGA said: “We believed in treating customers fairly long before the regulator adopted this approach and TCF is entrenched in everything we do.
“Fairstone is a perfect fit for RGA and we are delighted to have joined the group.
“Over the years we have developed a strong service and investment proposition for our clients and Fairstone’s general ethos and philosophy enhances this attitude for the benefit of our clients.”
RGA, which is based in Uxbridge, represents around 525 clients and it will be free to advise on financial products available from all providers.
Lee Hartley, chief executive of Fairstone Group, said: “Robert Goodman and Terry Payne, along with their team, have created a first class financial advisory business in RGA, which now employs five regulated advisers who have all adopted the same high ethical standards which we share at Fairstone.
“This is something that we take very seriously and RGA have made it a cornerstone of their offering.
“As well as this the team are accessible to their clients, offering a personal, professional service and we look forward to help bring this to a wider audience.
“RGA is a forward-looking company, already making strong use of technology to enhance their proposition and Fairstone will bring its considerable technological expertise to help the company achieve their exciting growth targets.”
Earlier this year Fairstone received a £25m injection of capital from private equity firm Synova Capital, which has become the lead investor in the company.
In January Mr Hartley told FTAdviser he anticipated the company would be making between eight and 10 new acquisitions during 2016.
Fairstone was founded in Newcastle in 2008 and has grown to include 260 financial advisers throughout the UK, servicing 25,000 private clients with £5.8bn of funds under advice.
