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Fairstone completes My Wealth Management deal

Lee Hartley
Lee Hartley

Fairstone Group has now fully acquired Leicestershire-based My Wealth Management.

Fairstone took a minority stake in My Wealth Management three years ago as part of the Group’s downstream buyout model. Since that first deal, My Wealth Management has grown its revenues by 35% and funds under management currently stand at £140 million.

Fairstone, the UK’s largest Chartered Financial Planning firm, does not disclose financial details of its acquisitions. It takes initial minority stakes in IFA businesses and integrates them over a number of years. Currently Fairstone has 22 adviser firms under this type of arrangement.

My Wealth Management, which has around 1500 clients, specialises in investments, retirement and estate planning. It’s led by Ian Morris.

CEO of Fairstone Group Lee Hartley (pictured above) said: “With the best interests of their clients as its driving influence, My Wealth Management is another example of the type of company Fairstone is looking to partner with.   Ian and the team at My Wealth Management take time to listen and understand their clients before presenting a holistic wealth planning solution that’s driven by individual client needs providing peace of mind and value for money.  We look forward to an ongoing relationship with the team, supporting their marketing, front and back office and client acquisition strategies in order to help them to grow the business.”

Morris said: “Before entering into the DBO process, we spent a lot of time assessing how we could grow our business effectively whilst enhancing client service and Fairstone stood out as a group with a crystal clear vision as to what financial services should look like and how best this is delivered to clients.  We are, therefore, extremely excited to be joining Fairstone.  We believe, that by integrating into the Fairstone Group structure, we will ensure our that clients will continue to receive a sustainable advice service from a modern and comprehensive client-centred proposition.”

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