National advice firm Fairstone has acquired IFA firm Brett & Randall Financial Services.
This acquisition comes after Fairstone previously signed the firm to its downstream buyout (DBO) programme. It marks Fairstone Group’s second DBO purchase this year after Pension and Wealth Management Services Ltd, based in Harpenden and Burscough, also signed in February.
Collectively, Fairstone believes these two acquisitions will bring upwards of 18 advice and support staff as well as approximately £1.8 million in revenue.
Fairstone estimates Leicester-based Brett & Randall Financial Services will alone contribute £1.3 million of gross fee income to the national firm, bring in managed funds of over £200 million and add an additional 420 clients under the Fairstone umbrella.