Chiltern House first joined Fairstone in 2018 via its downstream buy-out model, which sees the consolidator take a stake in an advice firm before integrating and then purchasing it.
In an update today (August 5) Fairstone confirmed the acquisition had now completed, bringing with it 500 clients, four advisers and gross fee income of £2.6m.
Lee Hartley, chief executive of Fairstone, said the deal was a "very valued addition" to the company as part of its growth plans for 2020.
Mr Hartley added: "We are delighted to complete the final acquisition of Chiltern House, having worked closely with them throughout the integration phase.
"At Fairstone, we work hard to ensure our proposition gives firms the framework they need to significantly grow their businesses, without compromising on client service or independence, and Chiltern House has shared our appetite to grow and develop."
Fairstone said Chiltern House had seen an 18 per cent increase in profits and 8 per cent growth in revenue during the last year as part of the acquisition programme.
It comes as the consolidator reported the "vast majority" of companies which reached acquisition stage as part of its downstream buy-out model were returning a higher valuation than expected on purchase.
Keith Fisher, principal at Chiltern House, said: "After 18 successful years in business and with retirement beckoning for two of the founding directors, we decided to join Fairstone to ensure the future success of the business and so that clients can continue to enjoy first-class service."
Fairstone has gained almost £1.2bn in funds under management through its acquisition model so far in 2020, sealing its seventh deal of the year in July.
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