North East financial planning group Fairstone has announced it has snapped up a West Yorkshire business in its six acquisition so far this year.
The Boldon business has acquired Utopia Financial Planning, based in Liversedge, an 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 acquisition also secures funds under management in excess of £100m.
Fairstone uses a Downstream Buy Out acquisition model which integrates financial advisory firms into the group prior to final acquisition.
CEO Lee Hartley said: “We are delighted to complete the final acquisition of Utopia Financial Planning. They are exactly the kind of robust firm we are looking to join Fairstone and grow with us.
“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.”
Utopia Financial Planning principals Darron Whitehead and Ray Garnett said that the Fairstone proposition appealed as it provided continuity and long-term reassurance for clients and staff for years to come.
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Mr Whitehead said: “Fairstone share our client centred ethos as well as our commitment to providing first class service, while remaining independent.
“We have always strived to provide the best possible service for our clients, and we are very confident that the acquisition with Fairstone will enhance the relationship and services our clients have come to expect.”
Mr Garnett said: “We are very proud to become part of the Fairstone family, who will help us to look after our clients and their families for generations to come.”
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Headquartered in South Tyneside with 42 locations across the 海角视频, Fairstone is the number one ranked wealth management firm on Trustpilot and oversees £11bn funds under management for over 40,000 wealth clients.