Consolidator Fairstone has made its first acquisition of 2023 with the purchase of Mantle Financial Planning (Mantel), adding more than £450m in funds under management (FUM) to the group.
Principals Colin Caulfield and Clive Shaw said they joined the Chartered IFA business to get greater support dealing with "the increasing difficulties of being a medium-sized IFA directly regulated by the FCA". Mantel is a Surrey-based holistic planning firm for high-net-worth clients. Its acquisition brings 11 advisers and 16 staff to Faristone along with more than 2,000 clients. The consolidator explained that Mantle had joined its Downstream Buy Out (DBO) acquisition model in June 2020. Under the model, which sees companies use Fairstone's support services while focusing on growing...
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