Capital and Trust - May 5, 2022 - 0 minute read

Fairstone; one of the UK’s largest Chartered Financial Planning firm, has purchased Carlisle based Financial Concepts a chartered independent advice firm.

Established in 2000, Financial Concepts specialise in pensions and investments and will be adding more than £135m assets under management. The company joined Fairstone’s downstream buy out acquisition model in December 2019. Fairstone has stated since then the firm has seen a 7% increase in revenue and a 6% increase in clients.

The acquisition of Financial Concepts will bring more than 1,700 clients to the Fairstone Group, along with 10 advisers and staff.

Director of Financial Concepts, Darren Turnbull said: “We are delighted to join Fairstone as we feel that this will enhance the offering from our business as we move forward, providing long term continuity to our clients while giving our staff the chance to progress in their careers.”

This will be the fourth acquisition for Fairstone this year, and it expects to make many more throughout the year.

CEO of Fairstone, Lee Hartley said: “They joined us at a rather difficult time as it was a couple of months before we went into lockdown with all the challenges that presented, but we worked closely with the team throughout the integration phase to provide the support and framework to grow the business. Our acquisition strategy remains firmly focused on bringing in quality, ambitious firms such as Financial Concepts, who want to join us and be supported to grow with us, delivering long-term organic growth.”

The sum has yet to be disclosed.

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