Fairstone grows with Allen Tomas & Co agreement

A wealth management firm has expanded.

Sunderland-headquartered Fairstone Group has added Allen Tomas & Co to its stable.

The agreement for the Kings Lynn-based operator adds more than £120 million of funds under management to the business, as well as 275 clients, four advisers and eight support staff.

And it comes just days after Fairstone announced deals for County Durham’s Advanced Financial Services and Hampshire and Wales’ Station Financial IFA.

Lee Hartley, Fairstone chief executive [pictured, below], said: “The Allen Tomas & Co team bring a first-class and modern approach to their work, centred around building quality long-term client relationships, making them an excellent fit.

“Our market-leading framework gives firms the platform and support they need to significantly grow their businesses, without compromising client service or independence, and we look forward to working with the team to help them scale significantly.”

Michael Crisp, Allen Tomas & Co business principal, added: “Partnering with Fairstone cements our place in the local community and brings more security for clients, staff and professional connections.

“Their business provides the financial strength, compliance framework and stability a smaller firm like ours needs to grow and prosper within a sector that continues to face significant regulatory challenges.”