Fairstone CEO Steven Cooper said the group will look to scale across Wales
Fairstone has opened a hub office in Cardiff as it looks to grow across Wales.
The latest office opening brings its hub count to 12, with more than 40 other offices in the UK and Ireland.
The Cardiff office is based north of the city, in the Vision Court business complex, and houses more than 20 staff and advisers who had been based in three offices in South Wales and the Welsh Borders.
The hub office serves in excess of 4,500 clients, managing more than £400m of client assets.
Fairstone central region managing director Mike Slater said: "This new hub office provides us with a strong platform for further expansion right across Wales.
"We are seeing extremely strong client acquisition rates in the region, which reinforces our confidence in the long-term opportunity across Wales."
The office is expected to accommodate addition advisers and support staff as the business looks to grow over the next 12 to 18 months, according to Slater.
"The hub has been deliberately selected and designed to support sustained organic growth over the next five years, while also providing the capacity to integrate targeted acquisitions where appropriate," he said. "It leaves us perfectly positioned to bring trusted, chartered, independent financial advice to many more people in Wales."
Fairstone Group CEO Steven Cooper described the office opening as "an important milestone" for the business as it looks to scale across Wales, with Cardiff set to act as a "foundation" for further growth.
"Establishing a presence in the Welsh capital is an important strategic step for us as a group as we look to support more families, individuals and business owners in making confident financial decisions," Cooper said. "With strong levels of early-stage entrepreneurship in the UK and a well-evolved business support system, Wales is a country with a clear opportunity for long-term growth."
Fairstone uses hub offices as operational centres
Fairstone's hub offices are intended to act as operational centres, delivering head office functions at a local level.
"Our hub offices play a key role in how we operate as a business," Cooper added. "They bring colleagues together, support collaboration across teams and ensure clients receive a joined-up service.
"The opening of our Cardiff hub gives us a strong platform to build from, and we expect it to play an important role as we continue to grow our presence across Wales over the coming years."
The £22bn AUM wealth manager's Wales push comes as Welsh government statistics show that Wales has one of the highest rates of SME and owner-managed businesses in the UK.
An estimated 94% of all companies in the country employ fewer than ten employees, according to the government figures.
Entrepreneurship has also boomed in Wales, with total early-stage entrepreneurial activity rising from 7.8% in 2022 to 11.5% in 2024.
