Fairstone reports 21% revenue surge as client assets hit £20bn

Fairstone, one of the UK’s leading financial advice firms, has reported another year of strong growth, according to its latest annual results.

The group, which provides financial planning and wealth management to over 125,000 clients, including over 60,000 wealth clients, saw a 21% year-on-year increase in revenue and pro forma fee income to £168m in the year to the end of December 2024.

Fairstone is delivering growth through a clear strategy of organic expansion and targeted acquisitions.

The group has invested in its UK and Ireland network, establishing 12 regional hubs – 10 in the UK and two in Ireland – that are being developed into fully operational centres.

These hubs will reflect the structure of Fairstone’s head office, embedding core functions within local teams to improve delivery and support.

As well as expanding its physical footprint, Fairstone has also been developing its digital-first service, Mineral, which offers expert financial advice via video call.

Mineral is helping to address the advice gap by making professional financial advice more accessible and more affordable.

Fairstone identifies Mineral as its solution to closing the advice gap and is now embedding the service across its national infrastructure. The platform is designed to support individuals who are accumulating wealth and seeking to grow their financial position, offering accessible advice through a digital-first experience.

Fairstone’s Downstream Buy-Out (DBO) acquisition programme continues to stand out in the industry. Recent refinements have made it more appealing to firms seeking investment and operational support.

Earlier this year, the group concluded its 100th DBO partnership deal with Yorkshire-based Richardson Premier Wealth Ltd joining the programme.

In the 13 years since the DBO programme was started, it has been a major factor in Fairstone growing the amount of client assets under management (AUM) to £20bn. Enhancements to the model are expected to drive further acquisitions in the coming years.

Fairstone’s success has been underpinned by strengthening its leadership team. Last month, the group announced that former Aldermore Bank CEO Steven Cooper CBE has been appointed as its new Chief Executive Officer.

Steven, who takes up his post later this autumn, will take over as CEO from Fairstone founder Lee Hartley, who becomes Deputy Chair.

The enhanced leadership team, investment in existing operations and further strategic acquisitions will drive Fairstone’s ambition to double the size of its business to £40bn of client assets under management by the end of 2030.

David Hickey, Independent Chairman at Fairstone, said:

“This is another strong set of results for Fairstone and is a tribute to the hard work, dedication and determination of our excellent team.

“With £20bn of client assets under management, our continued growth reflects the ongoing success of our client-focused approach, providing chartered, trusted and independent advice at every life stage.

“The announcement of our new CEO, Steven Cooper CBE, and the signing of our 100th Downstream Buy-Out deal this year, makes us ideally placed to scale further across the UK and Ireland.

“We have our sights firmly set on helping many more people make confident, informed financial decisions about their future as we target £40bn of client assets under management by the end of 2030.

“Fairstone continues to be recognised as a trusted, independent, and chartered financial advice firm, committed to delivering high-quality service across every stage of the client journey.

“With over 14,000 verified reviews on Trustpilot and a satisfaction rating of 98%, our reputation is built on consistent client outcomes and a strong focus on professional standards.”