Fairstone grows with James Ryan Thornhill deal

A wealth manager has expanded following a takeover.

Fairstone has added James Ryan Thornhill to its stable.

The deal brings more than £110 million of assets under management to Sunderland-headquartered Fairstone, as well as £1 million fee income and 600 clients.

A team of financial and mortgage advisory, paraplanning and administrative staff have additionally joined Fairstone under the agreement.

The takeover builds on James Ryan Thornhill’s initial place on Fairstone’s downstream buyout model, which sees the business provide technological and capital support to independent financial advisory firms to boost growth ahead of a sale.

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Lee Hartley, Fairstone chief executive, said: “James Ryan Thornhill and Fairstone were an excellent match from the outset.

“We only partner with ambitious, growth-orientated firms, which favour a longer-term partnership beyond acquisition.

“I am looking forward to seeing the next stage of James Ryan Thornhill’s growth.”

Del-Ryan Rafter, James Ryan Thornhill director, added: “The biggest appeal of Fairstone’s proposition was that they truly valued the human capital within the business, by which I mean our hard-working colleagues who are vital to the day-to-day running of operations.”