Fairstone adds Surrey advice firm in seventh deal of 2020

Mantle FP has joined Fairstone through its downstream buyout (DBO) programme, which gradually integrates a new firm into Fairstone typically over a two-year period, before it is fully acquired. The consolidator has gained almost £1.2bn in funds under management (FUM) through its DBO model so far this year, bringing total FUM at the firm to close to £10bn and funds under advice to almost £12bn. The agreement with Mantle FP has added more than 1,750 clients to Fairstone, along with 11 advisers, 13 support staff, FUM of more than £480m and gross fee income of £3.3m. Mantle has an offi...