Fairstone adds sixth firm to acquisition programme in 2020

Lincolnshire-based MT Financial Management represents the sixth adviser firm Fairstone has added to its downstream buyout programme in 2020, adding £180m funds under management to the consolidator. The deal also sees five advisers and 11 support staff join the business, as well as 560 clients and gross fee income of £1.2m. The firm is set to be fully integrated into the Fairstone model within two years before eventually being fully acquired by the business. Fairstone said the downstream buyout model means the two firms will be able to fully align cultures and systems before the sale i...