Fairstone Group has lined up the acquisition of three more adviser firms, which will add approximately £290m of funds under advice, £3.25m of revenue and a further 19 financial advisers.
The deals will take the consolidator's total number of advisers across the UK to more than 300, servicing some 40,000 private clients with more than £7bn of assets.
The three firms will be acquired through Fairstone's downstream buy-out model, which sees the group buy an initial stake in a firm and slowly integrate it into the business over a number of years before final purchase.
Fairstone has argued this helps minimise its exposure to integration risk while allowing the acquired company to "profit from its own success upon final acquisition".
Fairstone Group CEO Lee Hartley (pictured) said: "We are very pleased to have three companies of such quality join the Group where they will be able to leverage the strength of Fairstone's system efficiencies, which will benefit both the front and back office, saving valuable time for advisers and ensuring clients receive the very best financial advice."
The three firms Campbell Harrison, Mortgage Find and Pensions & Wealth Management Services will bolster the consolidator's presence in Sheffield, North Kent and Hertfordshire respectively.
Hartley added: "For us, it is vital to have both a business and cultural fit with the companies who decide to join us. Having spent time with the teams at Campbell Harrison, Mortgage Find and Pensions & Wealth Management, we are incredibly excited about our future working together."
Campbell Harrison managing director Alex Campbell said: "The biggest threat to small IFAs is PI insurance and the Financial Services Compensation Scheme. Joining Fairstone means I can concentrate on the part of the job I enjoy - helping clients - without worrying about the longevity of the company."
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