Fairstone has signed up two firms to its downstream buy out (DBO) programme.
Harrogate-based Imagine Financial Planning and Aberdeen-based Forbes Lawson Wealth Management have joined Fairstone, increasing the firm’s strategic footprint in Yorkshire and Scotland.
The two deals bring more than 700 clients, four advisers and five support staff to the business as well as funds under management of around £200m ($273m, €231m).
Both firms specialise in pension planning and investment management.
Lee Hartley, chief executive of Fairstone, said: “We are always looking for strong, high quality businesses with ambitious development plans to join Fairstone.
“The strength of our DBO programme is demonstrated in the fact that all the firms we have gone on to acquire have received at least 100% of their premium sale value and many achieving much more, consolidating our position as a secure, stable and proven acquirer within the sector.”
DBO scheme
The programme continues to be a core driver of growth for the business, reversing the traditional buy and build approach, with consolidation playing a key role in a firm joining the programme.
The scheme integrates advice businesses into the group within a two-year period.
