Consolidator Fairstone has added 11 advisers to the firm after partnering with Surrey-based Mantle Financial Planning.
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 office in Surrey and another in Twickenham. It specialises in pension planning and investment management.
Fairstone CEO Lee Hartley (pictured) said he was delighted to welcome Mantle FP to the consolidator's DBO programme, adding: "The structure of our unique DBO programme ensures we partner with quality firms with an appetite to grow and develop and Mantle Financial Planning share our values and aspirations for the future. We look forward to working with them and helping them to grow their business further.
"Our unique DBO model is continuing to yield exceptional results and bringing seven firms into the programme so far this year demonstrates that Fairstone has much to celebrate not only in terms of the excellent on-going service we are providing to our clients, but also the robust sustainable growth we are seeing throughout the business."
Mantle FP principal Colin Caulfield said: "We decided to join Fairstone to help us to deal with the increasing difficulties of being a medium-sized IFA directly regulated by the FCA. Joining Fairstone was the right decision as they are an independent, Chartered, national firm which is not just interested in the client bank, but the company as a whole.
"We look forward to integrating with Fairstone and we firmly believe this will be in the long-term best interests of both our clients and the company."
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