Fairstone, the national adviser, has acquired MT Financial Management, a holistic financial planner based in Spalding, Lincolnshire.
The deal will add £200m to Fairstone’s funds under management.
MT Financial Management is another firm to be acquired after joining Fairstone’s downstream buyout programme. After joining in March 2020, the firm enjoyed an 11 per cent rise in new clients alongside an equal rise in assets under management.
MT principal Trevor Wiltshire, commented: “Fairstone is equally committed as we are to providing first-class independent financial advice to our clients.
“As we become fully part of the Fairstone family we look forward to the further opportunities this provides us to grow and build on our success to date and better serve our clients in the years to come.”
Lee Hartley, Fairstone chief executive, commented on the consolidator’s acquisition strategy: “They will continue to receive ongoing support post acquisition to grow further and unlock additional avenues of greater long-term value, including a secondary capital event, through our enhanced buy-out offering.
“Our acquisition strategy remains firmly focused on bringing in quality, ambitious firms such as MT Financial, who want to join us and utilise our framework to deliver ongoing organic growth,” Hartley said.
This is the second acquisition of 2023 for Fairstone, after its purchase of Surrey-based Mantle Financial Planning back in February.
To discuss the market for potential acquisitions, speak with our Senior Broker Gwill Evans and click here.
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