Fairstone makes fifth acquisition of the year

Fairstone has purchased Belasis IFA, based in Darlington, adding £50m in funds under management. This marks the financial planning consolidator’s fifth acquisition of 2018. Belasis, which advises on both personal and corporate finance, will bring five advisers and over a thousand clients to Fairstone, as well as £500,000 in gross fee income. Fairstone CEO, Lee Hartley, spoke about the acquisition:
“Having worked with Belasis IFA through our proprietary downstream buy-out programme over a number of years we are delighted to complete the final acquisition with the business. The whole team at Belasis have a shared ambition with Fairstone to further grow their operation and with our support in areas such as client activation, marketing, compliance and regulation, we are able to help partners such as Belasis achieve very significant levels of organic growth.”
Belasis directors Craig Dyball and Stuart Hodgson commented: “Over the years we have developed a very strong service and investment proposition. As such, we wanted to find a well-established firm with strong ethical standards to support our proposition and help us to build our business, without eroding the high levels of service we provide to our clients. “Fairstone’s general ethos and philosophy thoroughly enhances this attitude for the benefit of our clients. We look forward to working even more closely together to allow the business to reach its full potential.”
If you’d like to know more about selling your business to Fairstone, contact louise.jeffreys@gunnerandco.com