Fairstone snaps up two more IFA firms as buying spree continues

The London consolidator added £113m FUM and gross fee income of £830,000 through its acquisition of Swaffham-based Hamlyn Financial Services. The purchase brought 2,500 clients, six advisers and seven support staff to Fairstone, its first acquisition of the year. Stevenage financial planner Wagstaffs brought 330 clients, £1m gross fee income and about £150m FUM to Fairstone, which now oversees £10.8bn in client investment assets. Fairstone chief executive Lee Hartley said both firms were a "perfect fit" for Fairstone's proprietary downstream buyout model: "We are delighted to complete...