Tue, 26 Dec 2023 | BUSINESS SALE
Wealth management consolidator Fairstone Financial Management has continued its acquisitive expansion with a double acquisition. The Sunderland-based firm has acquired Kent-based Bellegrove Mortgage Services and Perthshire-based Next Home, bringing in a total of 22 staff and more than 6,000 clients.
The deals strengthen Fairstone’s offering in the mortgage lending market, which generates around 8 per cent of its total fee income. The takeovers will also provide growth opportunities for the acquired firms, which have been seeking to grow cross-referral opportunities in order to provide a more complete service for their clients.
Fairstone chief executive Lee Hartley commented: "I am delighted to welcome Next Home and Bellegrove to the Fairstone family. Both are client-focused, quality firms who have established an excellent reputation for providing first-class service over many years.”
"They are also very ambitious and are looking to grow and we are delighted to be able to support them on the next stage of their journeys.”
Hartley added: "While we are primarily a wealth management house, the mortgage sector is valuable to us as there is a synergy between the two; every mortgage adviser in the group work with IFAs who can provide wealth advice to their clients and vice versa, providing a complete wealth offering across the business.”
"Our mortgage channel gives us a position of real scale in the market, and we are continuing to invest in this area of the business, leveraging our proprietary technology system and relationships with some of the leading UK lenders, to provide further efficiencies for our clients and advisers in terms of turnaround times and ease of processes."
Read more about wealth management M&A
Established 20 to 25 years, this CA serves primarily limited companies, with a strong average fee of over £1,500 demonstrating the quality and retention of the clientele you will inherit.
Well-established and profitable Lancashire based accounting firm for sale. Principal happy to offer consultancy arrangement post sale to ensure seamless transition.
Well established and profitable Staffordshire based firm for sale, with over 90% of the portfolio consists of limited company clients with very strong average fees in excess of £2,000 and above.
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