Fairstone has acquired east Midlands-based Sterling Asset Management for an undisclosed sum.
It is the UK financial planning firm’s fourth acquisition in 2021.
Based in Leicestershire, Sterling Asset Management is a whole-of-market advice firm specialising in advice and management of investment and retirement portfolios.
The firm has four directors, Simon Knighton, Mark Houldey, Andrew Rastrick and David Hindle.
The M&A deal brings an additional 1,000 clients into the Fairstone Group together with Sterling’s four advisers and three support staff, and also secures funds under management in excess of £100m ($141m, €1.16m).
‘Invest in forward thinking firms’
Lee Hartley, chief executive of Fairstone, said: “We are delighted to complete the final acquisition of Sterling Asset Management which signifies another valued addition to Fairstone.
“Sterling share our core values of putting clients at the heart of everything we do, making them an excellent fit and we have worked closely with the team throughout the integration phase.
“Within Fairstone, 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.”
Prior to this deal, Fairstone bought Dundee-based Findlay & Company Financial Services, Glasgow-based advice firm Chartermarque and Berkshire-based Hammett and Petch Financial Planning for an undisclosed sum.
