Pensions Wealth Management Service has been purchased by Fairstone, in a deal that will contribute £200m in funds under management to the company. The transaction is Fairstone’s first acquisition of 2019 and will expand the firms reach in the UK with PWMS’ Hertfordshire and Lancashire offices.
Lee Hartley, CEO of Fairstone, spoke about the firm’s downstream buyout (DBO) model which has been used in Fairstone’s acquisition strategy:
“Our DBO proposition continues to gain in popularity, particularly among more sophisticated wealth management firms who place significant importance on ensuring that positive customer outcomes are realised as a result of the transaction.
“We are delighted to complete the final acquisition with PWMS having worked with the firm throughout the integration phase of the DBO programme.”
For more information on Fairstone’s offering come and meet the team at our events, or contact gwill.evans@gunnerandco.com
