Tue, 26 Mar 2024 | BUSINESS SALE
Financial planning consolidator Fairstone Financial Management has completed its latest acquisition with a deal for Nottingham-based IFA James Ryan Thornhill Limited (JRT). The acquisition brings in more than £110 million in assets under management (AUM), 600 clients and a team comprising five financial advisers and seven paraplanners, mortgage advisers and administrative staff.
Following the acquisition, Fairstone Chief Executive Lee Hartley said: "JRT and Fairstone were an excellent match from the outset. I take great pride in Del-Ryan's comments around the value we place on people. This is exactly why our DBO model adds enormous value over and above other acquisition programmes in the sector. We work in partnership during integration stage and embrace the skills and knowledge of the whole team.”
"We only partner with ambitious growth-orientated firms like JRT who are not seeking a quick exit but favour a longer-term partnership beyond acquisition. I am looking forward to seeing the next stage of JRT's growth evolution."
Del-Ryan Rafter, director at JRT, said that the “biggest appeal” of joining Fairstone was that they valued “the ‘human capital’ within the business and by this, I mean our hard-working colleagues who are vital to the day to day running of our firm’s operations.”
The acquisition is the latest in Fairstone’s downstream buyout (DBO) model, which sees the company partner with IFA businesses, providing centralised services, technology and funding, before eventually completing a full acquisition.
This approach has established the company as the leading consolidator in a wave of M&A activity in the UK’s wealth management sector, which remains highly fragmented in spite of years of busy dealmaking. Fairstone has 55 UK locations and oversees approximately £15 billion of funds under management for in excess of 55,000 clients.
Over the past year, 16 companies across the UK and Ireland have joined Fairstone’s DBO programme, along with six additional full acquisitions. The company says that it has a strong M&A pipeline for 2024, with discussions underway with a “significant” number of acquisition targets.
Find out more about Fairstone's DBO model
The company provides individuals and businesses with bespoke, impartial financial advice, specialising in tailored support relating to mortgages, property finance and personal insurance.
Although profitable, this business has quality personnel who can continue working, leading to a smoother transition post sale.
Offered for sale progressive IFA with an average household age of 56, there is room for further portfolio accumulation.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.