Chartered financial planning firm Fairstone has signed up two new advisory firms to its downstream buy out programme.
Chartermarque and Hammett and Petch Financial Planning have joined Fairstone, bolstering the company’s national footprint and adding a total of £200m funds under management.
Collectively, the deals bring seven new advisers and a team of support staff to the wider business as well as combined revenues of £1.4m.
Fairstone now services 41,000 private clients with more than £7bn in investment and pension assets.
The business has brought seven advisory firms into its buy-out programme since the beginning of 2017, most recently securing Octagon Wealth Management.
The downstream buy-out strategy enables partner firms to join Fairstone and plug-in to their growth support and funding before completing the buy-out at the end of an agreed integration period.
Lee Hartley, chief executive of Fairstone, said: “When we select businesses to work with, client interests always come first.
“Through our downstream buy-out programme we are always seeking out high quality firms that share our values and from the time spent with the teams at Chartermarque and Hammett and Petch, we knew that they would embrace our vision.”
Chartermarque, which has offices in Glasgow and London, focuses on pensions, wealth management and financial planning.
Hammett & Petch Financial Planning, based in Bracknell and Milton Keynes, specialises in pensions, investment and inheritance planning.