Fairstone has completed the full acquisition of Cheshire-based IFA Hammond McNulty Wealth Management in what the consolidator business has said will prove "the first in a series of major acquisitions" in 2018.
The deal adds funds under management (FUM) of approximately £50m - a figure Hammond McNulty said it hoped to double over the next five years. Five staff will join Fairstone as part of the deal. Hammond McNulty, which joined Fairstone's ‘downstream buyout' (DBO) programme in 2012, offers independent whole-of-market advice, specialising in pensions and inheritance tax planning as well as savings, investments, critical illness, life assurance and mortgages for clients in the North West of England. Company principal Mark Pedley (pictured, left) said: "With MiFID II and GDPR coming into fo...
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