Fairstone has bought west Yorkshire-based Utopia Financial Planning for an undisclosed sum.
Based in Liversedge, Utopia is a whole-of-market advice firm specialising in advice and management of investment and retirement portfolios.
The acquisition brings an additional 800 clients into the group together with Utopia Financial Planning’s four advisers and six support staff. The deal also brings funds under management in excess of £100m ($139m, €116m).
Lee Hartley, chief executive of Fairstone, said: “Our experience shows that culturally aligned firms are the most profitable and successful in the long-term. Ray, Darron and the team at Utopia place clients at their core and their commitment to first class service makes them an excellent fit for us.
“Within Fairstone, we invest in forward thinking IFA 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 Utopia on board, marking another valued addition to the Fairstone family.”
This is Fairstone’s sixth acquisition in 2021 after it bought Dundee-based Findlay & Company Financial Services; Glasgow-based advice firm Chartermarque; Berkshire-based Hammett and Petch Financial Planning; east Midlands-based Sterling Asset Management; and Belfast-based ASM Financial Planning for an undisclosed sum.
