Fairstone adds £150m FUM in seventh acquisition of 2019

Consolidator Fairstone Group has made its seventh acquisition of the year by acquiring north west-based Octagon Wealth Management. The purchase highlights Fairstone's downstream buyout (DBO) programme model, which sets out to ensure companies are fully integrated with the group prior to full acquisition, with a view to providing a seamless transition for clients and staff. Octagon will add 800 clients to the group, adding more than £150m funds under management (FUM) and a gross fee income of £1.10m. In June, the consolidator added £120m FUM to its network by fully acquiring Leicest...