Fairstone Group has added Sale-based IFA Avidus Scott Lang to its roster.
The Group incorporates one of the largest Chartered Financial Planning firms in the UK and has signed Avidus Scott Lang within its own Downstream Buy-Out (DBO) Model.
Avidus Scott Lang focusses on pension planning, financial planning, asset management and estate planning. It also offers bespoke services to high net worth individuals and corporate clients across the UK.
With this latest deal, one of number in recent months, Fairstone has added an additional £350m of assets under management and £2m in revenues, together with seven IFAs and 9 support staff.
Fairstone says that Avidus Scott Lang will now integrate with its systems, in order to achieve a good transition for around 4,000 clients.
IFA at Avidus Scott Lang Ian Thomasson said: “By integrating with Fairstone we are able to deliver increased quality of service to our clients. Fairstone already has an enviable record of reactivating clients and in new client acquisition, which is vital to us as we look to grow the business. We will also seek to selectively grow the business through acquisition and Fairstone’s backing will allow us to do this more efficiently.
“We are committed to providing the highest levels of advice possible, and feel that our new relationship with Fairstone will allow us to reduce time spent on back office tasks and focus on delivering the service our clients deserve.”
CEO of Fairstone Lee Hartley (pictured above) said: “Avidus Scott Lang is a great cultural fit for Fairstone. We are always looking for partners who will benefit from our structure and, by removing some of the pressure from back office tasks, we can help them grow their business and service their clients. For an ambitious company like Avidus Scott Lang, the financial support that we are also able to offer is invaluable to assist with future growth, and we look forward to working with the team over coming years.”