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Fairstone Group, one of the UKs largest Chartered Financial Planning firms has entered into an agreement to buy Yorkshire-based Lofthouse Gate.

Fairstone Group has entered into an agreement to buy Yorkshire-based Lofthouse Gate.

Fairstone Group has entered into an agreement to buy Yorkshire-based Lofthouse Gate.

The deal brings revenue of £850,000 to the Fairstone Group and funds under advice of around £90m.

Fairstone and Lofthouse Gate have struck an agreement which sees the consolidator take an initial minority stake in the business and integrate it over a number of years.

Lee Hartley, chief executive of Fairstone Group, said: “With three decades of experience in financial services, Roger Fayle and his team bring a clear and efficient approach to his work, incorporating regular meetings and contact to build long-term client relationships.

Founded in 2005, Lofthouse Gate offers advice across the financial planning spectrum, in particular providing clients with specialist pension and investment planning for small and medium sized enterprises (SMEs) and their staff.

Mr Fayle, a principal at 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.”