Business & Economy
Fairstone planning further growth after Sterling Asset Management deal
May 27, 2021
A wealth management firm says it remains “in a superb position to deliver more growth” after completing an acquisition.
Newcastle-headquartered Fairstone has taken on East Midlands-based Sterling Asset Management.
Bosses say the move – which adds 1000 clients, more than £100 million of funds under management and four advisers and three support staff to the Fairstone group – strengthens the operator’s growth plans for 2021 and beyond.
Based in Leicestershire, Sterling specialises in advice and management of investment and retirement portfolios.
Reflecting on the deal, Lee Hartley, chief executive of Fairstone [pictured below], which incorporates one of the UK’s largest Chartered financial planning firms, said: “This signifies another valued addition.
“Sterling shares our core values of putting clients at the heart of everything we do, making it an excellent fit and we have worked closely with the team throughout the integration phase.
“We invest in forward-thinking firms to optimise their capital value, providing the framework they need to significantly grow their business, without compromising on client service or independence.
“We are delighted to have Sterling on board.”
Simon Knighton, Sterling director, added: “Our relationship with Fairstone means we can take full advantage of the support offered, leaving us with more time available to spend with our clients by utilising their economies of scale and expertise.
“We are delighted to be working with Fairstone, which has been good to its word throughout the merger process and remains as focused on quality outcomes for clients as we are.
“The merge is part of our long-term commitment to clients, and we are very excited about the future.”
Fairstone operates from 42 locations across the UK and oversees £11 billion worth of funds under management for more than 34,000 clients.