Fairstone has completed the acquisition of Glasgow-based IFA Professional Partners, adding £160m funds under management to the consolidator's operations.
Professional Partners will also add three advisers and five support staff, who help bring in annual revenue of around £1.1m. The firm was established 27 years ago and offers a range of personal and corporate financial advice to some 800 clients. Fairstone completed the purchase of the firm after it spent a period within the consolidator's downstream buyout programme. This involves Fairstone taking an initial minority stake in a business and completing the buy-out at the end of an agreed integration period. Professional Partners principals Fraser Thomson and Fraser McPhate said: "We w...
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