Fairstone adds £140m FUM with My Wealth Management acquisition

My Wealth Management, which is led by financial director Ian Morris and represents around 1,500 clients, specialises in investments, retirement and estate planning. Fairstone finalised the purchase under its downstream buyout (DBO) model. The model sees Fairstone take an initial minority stake in an advisory business and integrate the firm over a number of years. Fairstone has argued this helps minimise its exposure to integration risk while allowing the acquired company to "profit from their own success upon final acquisition". 22 adviser firms currently sit under this type of arrang...