Fairstone completes two full acquisitions

Fairstone has announced two full acquisitions, adding more than £318 million of funds under management and 1,250 new clients.

The Sunderland-based wealth management firm has bought Grayside Financial Services in Epsom and Executive Wealth in Swindon.

Grayside Financial Services specialises in investment and post-retirement advice and Executive Wealth is a full-service financial planning firm with a specialist commercial mortgage arm, Prospero Finance.

Both firms join Fairstone after a period of integration as part of Fairstone’s unique DBO programme.

Lee Hartley, Fairstone chief executive said: “We’re delighted to welcome the Grayside and Executive Wealth teams into the Fairstone family.

“Both are client-focused, quality firms which have established an excellent reputation for providing first-class service over many decades. They’re a great fit for Fairstone.”

James Relph, Executive Wealth principal said: “We have grown significantly in the past few years and needed the support and infrastructure of a large national brand to maximise new opportunities and help take the business to the next level.

“Fairstone not only had the expertise to support us with technology, new regulatory requirements, and resource, but they were also the most proven acquirer in the sector with a track record of delivering results, making it the standout proposition.”

Mike Seddon, Grayside Financial Services principal said: “The DBO model really appealed to us as it has allowed us to partner with Fairstone first to integrate our processes and then be supported to grow, while remaining independent and continuing to service our client needs to the highest standard.”

Fairstone has also recently opened its sixth nationwide hub in Farnborough.

Lee added: “We already successfully operate five hubs across the UK, including a thriving City office in central London.

“In close proximity to Farnborough airport, the Aerospace Centre Business park was the perfect location for our next hub with its business gateway to London.”

Pictured: Lee Hartley