Fairstone boss Lee Hartley said his firm was in a "strong position" to continue its acquisition spree during the pandemic, as the consolidator announced plans to acquire northern-based IFA Financial Concepts.
The deal added £104m assets under management and marked Fairstone's fifth acquisition in 2020, strengthening its presence in North West England, with Financial Concepts' offices in Carlisle and Whitehaven. It adds 5,000 clients, six advisers and five support staff to Fairstone, and, in line with its downstream buy out (DBO) model, will be integrated the firm within two years before eventually being acquired by Fairstone. Fairstone chief executive Lee Hartley said Financial Concepts had a "strong focus on providing quality, first-class service and has a client-centric ethos, making...
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