Fairstone has secured a total of £1.5m fee revenue and £130m of assets under management (AUM) for its business through the first eight deals announced in its new Individual Buy Out programme (IBO).
Building on its existing Downstream Buy Out programme for larger IFA businesses, the consolidator firm said the IBO programme was designed to enable individual advisers "to build a long term, tax-efficient retirement fund and ensure continuity of service for their clients". Under the agreement, it explained, IFAs receive an initial capital sum, as well as a proportion of ongoing fee revenue for an agreed period of, typically, 15 years. Fairstone added it would assist with all succession planning, including candidate selection, legal, technical and regulatory support. Fairstone chief ...
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