Fairstone acquires Berkshire-based financial planner with £60m FUM

Hammett and Petch FP, based in Bracknell, Berkshire, is a whole-of-market advice firm specialising in advice and management of investment and retirement portfolios. It employs two advisers and two support staff. Fairstone operates a "downstream buyout" (DBO) model where firms agree to be acquired by the Chartered business then go through an integration programme which typically completes within two years. Last year, PA revealed Fairstone's earn out figures from its DBO method. Advice businesses bought out by the consolidator attain an average 111% of their original sale value with one...