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Business & Economy

Fairstone grows with MT Financial Management deal

A wealth management firm has expanded after bringing a “like-minded business” into its stable.

Newcastle-headquartered Fairstone has bought MT Financial Management.

The deal has added more than 600 clients and £200 million in funds under management to Fairstone’s books, as well as four advisers and nine staff.

Founded more than 25 years ago, Spalding-based MT Financial Management serves clients across Lincolnshire and Cambridgeshire.

Lee Hartley, Fairstone chief executive, said: “MT Financial has a well-established reputation for providing excellent client-centric service and they are passionately whole-of-market making them perfectly aligned with Fairstone.

“We couldn’t be happier to complete the purchase; when you bring like-minded businesses together then the fit is obvious from the start.”

Trevor Wilshire, MT Financial Management principal, added: “Fairstone is equally committed as we are to providing first-class independent financial advice to clients.

“As we become fully part of the Fairstone family, we look forward to the further opportunities to grow, build on our success and better serve clients in the years to come.”

Fairstone, which incorporates one of the UK’s largest Chartered financial planning firms, operates from more than 40 bases across the UK, overseeing £14 billion of funds under management for in excess of 45,000 clients.