Adviser consolidator Fairstone has acquired Essex-based firm Andrew Cohen Associates, marking its ninth deal of the year via the DBO programme.
Andrew Cohen Associates has joined Fairstone via its downstream buy-out (DBO) programme, which gradually integrates a new firm into Fairstone - typically over a two-year period. Based near Saffron Walden, Andrew Cohen Associates specialises in advice and management of investment and retirement portfolios. The move brings an additional 850 clients into the group together with four advisers and six support staff. The acquisition also secures gross fee income of £1m for Fairstone together with funds under management (FUM) of £150 million. Fairstone CEO Lee Hartley said: "The team are ...
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