News

2
Sep

Fairstone with a pipeline of 10 acquisitions

Fairstone chief executive Lee Hartley has revealed that 10 advice firms are lined up for purchase in Fairstone’s downstream buyout programme. The DBO model, where Fairstone integrates advisers within the firm before acquiring them, had 5 firms join in 2018 and 5 firms join in 2019, with the expectation of being purchased in 2020 and 2021 respectively.

Fairstone’s annual results for 2018 posted profits of £2.5m as well as an increase of over a third in assets under management.

Mr Hartley commented on the results and the DBO model: “A combination of organic growth and the success of our unique DBO programme, which reverses the traditional buy and build approach, is continuing to deliver exceptional results and to drive growth, with a series of deals with partner firms being completed at various stages within the financial year.

“Our considered approach, together with our proven business model and the significant financial backing that we have at our disposal, allows the management team and shareholders to look forward to 2019 and beyond in a positive manner.”