Fairstone has finalised the acquisition of Berkshire-based planning firm Chiltern House after it completed the consolidator's two-year integration period.
Chiltern House, based in Bracknell, is a whole-of-market adviser specialising in the management of investment and retirement portfolios.
The firm has 500 clients, four advisers and seven support staff. The deal sees Faristone gain £2.6m gross fee income and £400m funds under management.
Chiltern House participated in Fairstone's ‘downstream buy out' programme which "integrates ambitious IFA firms into the group, typically over a two-year period, prior to final acquisition".
Fairstone chief executive Lee Hartley said: "We are delighted to complete the final acquisition of Chiltern House, having worked closely with them throughout the integration phase.
"Their focus on quality advice and exceptional service is exactly what we are looking for in a business and their client-centric approach makes them an excellent fit for Fairstone."
He added: "At Fairstone, we work hard to ensure our proposition gives firms the framework they need to significantly grow their businesses, without compromising on client service or independence, and Chiltern House has shared our appetite to grow and develop.
"Finalising this deal with Chiltern House marks a very valued addition to our group and continues our scheduled growth plan for 2020."
Chiltern House principal Keith Fisher said: "After 18 successful years in business and with retirement beckoning for two of the founding directors, we decided to join Fairstone to ensure the future success of the business and so that clients can continue to enjoy first-class service.
"Our decision to become part of a leading and highly respected national Chartered firm secures not only the long-term interests of our clients but also the team at Bracknell and we look to the future with every confidence."
Newcastle-based Fairstone said seven firms had joined its buy out programme this year, bringing about £1.2bn in funds under management. The national advice firm said its total funds under management were about £10bn with £12bn funds under advice.
Hartley added more businesses were set to join Fairstone's buy out programme in the near future.
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