Fairstone Group has fully acquired Staffordshire-based Angela Murfitt Financial.
The deal completes the purchase of the company under Fairstone’s downstream buyout model, which sees Fairstone take an initial minority stake in an IFA business and integrate the firm over a number of years.
Angela Murfitt Financial specialises in investment, pensions and IHT planning.
Fairstone first partnered with the company four years ago and since then revenues have grown by 80 per cent, with funds under management currently standing at £30m.
Angela Murfitt, a chartered financial planner at Fairstone, said: “We are extremely proud to be joining Fairstone, the UK’s largest chartered financial planning firm.
“By fully integrating into the Fairstone Group, a sustainable and exciting future for our independent advice proposition is assured.
“In partnering with Fairstone, we have been able to deliver a modern and comprehensive client-centred proposition.”
Fairstone's buyout model helps to minimise Fairstone’s exposure to integration risk and allows the acquired company to leverage the group’s technology platform and benefit from support in marketing, new client acquisition and reactivating dormant clients.
There are currently 22 adviser firms under this type of arrangement with Fairstone.
Since entering the agreement with Fairstone, Ms Murfitt has served as a member of Fairstone’s board of chartered financial planners which provides technical leadership to the group and guides the company’s drive in ongoing professional development to ensure that 50 per cent of Fairstone’s advisers are qualified to level six.
Lee Hartley, chief executive of Fairstone Group, said: “With a focus on providing clear and reliable retirement planning and investment advice, Angela Murfitt Financial is an excellent example of the type of company Fairstone is looking to partner with.
“As a chartered financial planner, Angela takes the time to get to know her clients and works with them to create, protect and preserve their wealth and achieve their life goals.
“We look forward to an ongoing relationship with the team, supporting their marketing, front and back office and client acquisition strategies in order to help them to grow the business.”
Newcastle-based Fairstone was originally called Moneygate but rebranded last year.