Fairstone bolsters growth plan with another acquisition
By Katey Pigden 27
Lee Hartley, Fairstone
Fairstone is continuing its acquisition spree with the purchase of East Midlands-based Sterling Asset Management.
Earlier this year, Fairstone strengthened its position in Scotland with the purchase of Glasgow-based Chartermarque.
Fairstone operates a ‘Downstream Buy Out’ acquisition model, which integrates IFA firms into the group, typically over a two-year period, prior to final acquisition.
It made around 10 acquisitions last year.
Sterling Asset Management is a whole-of-market advice firm with four directors: Simon Knighton, Mark Houldey, Andrew Rastrick and David Hindle.
The acquisition brings an additional 1,000 clients into the Fairstone group together with Sterling’s four advisers and three support staff. The acquisition also secures funds under management in excess of £100m.