The DBO model sees Fairstone take an initial minority stake in an IFA business and integrate the firm over a number of years. This helps to minimise Fairstone’s exposure to integration risk and allows the acquired company to profit from their own success upon final acquisition. These companies can leverage the Group’s technology platform and benefit from significant support in marketing, new client acquisition and reactivating dormant clients. There are currently 22 adviser firms under this type of arrangement with Fairstone.
Led by Angela Murfitt, Angela Murfitt Financial specialises in investment, pensions and IHT planning. Fairstone first partnered with the company four years ago, since when revenues have grown by 80% with funds under management currently standing at £30 million.
Since entering the agreement with Fairstone, Angela has served as a member of Fairstone’s board of Chartered Financial Planners which provides technical leadership to the Group and guides the company’s drive in ongoing professional development to ensure that 50% of Fairstone’s advisers are qualified to level 6. Angela is a Chartered Financial Planner as well as a Chartered Member of the Chartered Institute for Securities and Investment.
Lee Hartley, CEO of Fairstone Group, said:
“With a focus on providing clear and reliable retirement planning and investment advice, Angela Murfitt Financial is an excellent example of the type of company Fairstone is looking to partner with. As a Chartered Financial Planner, Angela takes the time to get to know her clients and works with them to create, protect and preserve their wealth and achieve their life goals. We look forward to an ongoing relationship with the team, supporting their marketing, front and back office and client acquisition strategies in order to help them to grow the business.”
Angela Murfitt, Chartered Financial Planner at Fairstone added:
“We are extremely proud to be joining Fairstone, the UK’s largest Chartered Financial Planning firm. By fully integrating into the Fairstone Group, a sustainable and exciting future for our independent advice proposition is assured. In partnering with Fairstone, we have been able to deliver a modern and comprehensive client-centred proposition.”