Three more advice firms join Fairstone's DBO programme

Norfolk-based Hamlyn Financial Services has joined the programme, bringing £100m funds under management (FUM) that is spread across 1,500 clients.

Essex-based Andrew Cohen Associates has also become part of the DBO prcess, bringing £145m of assets under management (AUM) across 750 active clients while Dundee-based Findlay & Company has also joined, bringing more than £120m AUM.  

Fairstone's DBO process sets out to ensure companies are fully-integrated with the group prior to acquisition, with a view to providing a seamless transition for clients and staff.

Through the process, a further two businesses have recently moved into full acquisition - Darlington-based Belasis IFA, and Allensons in Wokingham, bringing a combined gross fee income of £1.2m, FUM of £50m and a total of 20 staff.

Fairstone said it expected to make more acquisitions in the first half of 2019 and CEO Lee Hartley (pictured) added: "Our DBO programme is yielding exceptional results with a significant number of business being onboarded and coming through to full acquisition.

"These firms are showing consistent growth performance as they take advantage of the regulatory, technical and operational support Fairstone provides."

Individual Buy Out Programme

Meanwhile, the consolidator's individual buy out programme - a structure that enables individual advisers to ensure continuity of service for their clients through Fairstone - has brought two further Chartered financial planners to the business.

London-based Paul Miller and Surrey-based Andy Smith together bring an additional 222 clients and £46m AUM into the group. Fairstone now has 320 regulated advisers and 168 support staff operating across 48 locations countrywide.

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• Topics
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• Fairstone Financial Management
• downstream buy out
• Hamlyn Financial Services
• Adrew Cohen Associates
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• acquisitions