Fairstone funds under management rise 21% to £13bn

The consolidator also reported a 22% increase in revenue, up to £84.8m, and a 19% increase in recurring income to £62.2m. Repeating income, which covers all revenues generated from existing clients, stood at 92% of turnover, according to the Newcastle-headquartered firm. Adjusted EBITDA at the end of 2021 also showed a profit of £12.8m, while fully embedded EBITDA, which includes all partner firms currently undergoing integration, stood at £25m. With a 12.6% rise in wealth clients and a 16% rise in transactional clients during 2021, the firm's organic growth had accelerated, Fairst...