Fairstone Group, one of the UK’s largest Chartered Financial Planning firms, has entered into a downstream buyout agreement with Wakefield based Lofthouse Gate Ltd.
Principles, Roger Fayle, Kirk James and Andrew Kealey have significant experience working with both business and personal clients. Founded in 2005, Lofthouse Gate offers advice across the financial planning spectrum, in particular providing clients with specialist pension and investment planning for SMEs and their staff. The deal brings total revenue of £850,000 to the Fairstone Group and additional funds under advice of approximately £90million.
Lofthouse Gate will benefit from the efficiencies created through the pioneering front and back office support of the Fairstone Group, which will allow them to dedicate more time to providing quality financial advice. In addition, the nature of the downstream buyout model will mean that clients enjoy a seamless transition as the business integrates with Fairstone. Fairstone will also work with Lofthouse Gate to acquire new clients through an advanced SOE programme and will reactivate dormant clients, ensuring they benefit from continued contact with their advisers.
Roger Fayle, of Lofthouse Gate said:
“Our decision to join Fairstone was based on their market leading support and resources, which will enable us to offer a more efficient client proposition. Making use of Fairstone’s core technology platform and their effective client acquisition programme will enable us to spend more time helping our clients to achieve their financial goals.”
Lee Hartley, CEO of Fairstone Group, added:
“With three decades of experience in financial services, Roger and his team bring a clear and efficient approach to his work, incorporating regular meetings and contact to build long-term client relationships. We are very pleased to have a company of this quality join the Fairstone Group. Lofthouse Gate’s team of advisers and support staff will now be able to leverage the strength of Fairstone’s system efficiencies, which will benefit both the front and back office, saving valuable time for the advisers and ensuring clients receive the very best financial advice.
“For us it is vital to have both a business and cultural fit with the companies who decide to join us. Having spent time with the team at Lofthouse Gate we are incredibly excited about our future working together.”
