Fairstone has expanded its presence in Scotland by bringing Edinburgh-based 336 Financial Management into its Downstream Buy-Out (DBO) programme.

The deal marks the 29th partnership Fairstone has made across the UK and Ireland over the past two years,  collectively adding a total of £4.1bn AUM and 177 new advisers into the group. Now, Fairstone has £18bn funds under management.

Fairstone’s DBO programme provides ambitious IFA firms who have no desire to sell in the immediate future, the ability to release capital on day one of partnership and then work towards a full sale at a future date of their choosing. Fairstone provides access to investment, resource, and new clients during the partnership period to ensure that each business reaches its optimal value at the date of full acquisition.

Chief executive Lee Hartley said: “336 Financial Management’s excellent reputation and client-first approach make it an excellent fit for Fairstone. The team will play a pivotal role in building our presence in Edinburgh, the heart of  Scotland’s financial services industry and a key location in the broader plan to drive continued growth throughout Scotland.”

Douglas Young, director at 336 Financial Planning, added: “Fairstone’s reputation as the UK’s largest and most trusted independent, wealth advisory firm was a huge factor in our decision. Joining Fairstone will allow us to work with the excellent Fairstone Investment team and to offer bespoke investment solutions at the best value for our clients.”

Elaine Walker, Director at 336 Financial Planning said: “We are delighted to have joined Fairstone. The support and resources available are outstanding, and we feel confident that joining Fairstone will be hugely beneficial for both our business and our clients. Being part of a national firm with such scale and expertise allows us to enhance our offering while maintaining our client-focused approach.”