Chartered financial planner Fairstone has fully acquired Harefield-based IFA Robert Goodman Associates (RGA), making it the fourth outright acquisition the company has made in 2018 as it continues to implement its growth strategy.
The acquisition brings revenues of £800,000 to Fairstone and funds under management of £70 million. Six advisers and their support staff have ensured a smooth transition for RGA’s 1,000 clients throughout the process.
The deal completes the purchase of the firm following a two-year integration period within Fairstone’s downstream buy out (DBO) programme.
Lee Hartley, chief executive of Fairstone Group, said: “As a firm, RGA is dedicated to quality service. We have always believed that clients should never be commoditised and throughout the acquisition process, clients have remained the priority. All six RGA advisers have a shared ambition to continue to grow the business. As one of the largest Chartered financial planning firms in the UK, Fairstone will bring its marketing support and technology to bear to ensure that RGA can offer their bespoke, whole-of-market advice to an ever-growing client base.”
The other three firms acquired by Fairstone this year include Cheshire-based Hammond McNulty Wealth Management, Zimb Johnson Bespoke Financial Planning and Sims Financial Planning.
RGA offers a full range of financial planning advice including investment and pension planning.
Based in Newcastle upon Tyne with offices in London and Bristol, Fairstone is made up of 410 advisers and staff in 38 branches and office locations, acting for over 41,000 clients. The group oversees £8.1 billion of client assets with £5 billion of FUM.