Newcastle-headquartered Fairstone has acquired Essex-based financial advice company Sacre Associates for an undisclosed sum.
This is Fairstone’s third acquisition of 2023 after it bought Spalding-based MT Financial Management and Surrey-based Mantle Financial Planning for undisclosed sums.
The purchase increases Fairstone’s funds under management (FuM) by £450m. It brings 1,200 clients to the business, as well as Sacre’s 12 advisers and 19 support staff.
Fairstone chief executive Lee Hartley said: “We look forward to continuing to work with the team at Sacre, investing both capital and resource into the business, as we continue to increase our footprint across the home counties − an area of high net worth and significant opportunity for expansion.
“The collective power of Sacre’s local expertise and reputation and our national infrastructure and status will enable us to achieve our shared vision for strategic growth and success.”
