Fairstone has acquired Darlington-based Belasis IFA - the fifth acquisition carried out by the firm in recent months.
The acquisition has added funds under management of £50m and an additional 1,250 clients to Fairstone, representing a gross fee income of £500,000. Belasis IFA's five financial advisers and two support staff will join the consolidator. Before it was fully acquired, Belasis had been part of Fairstone's ‘downstream buyout' model, which sees the consolidator work with firms for a number of years to integrate them into the business before fully acquiring them. IFA Fairstone ditches DB transfer triage process Fairstone CEO Lee Hartley said: "Having worked with Belasis IFA through our pr...
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