Fairstone Group looks to Yorkshire for new growth

01 February 2017

Fairstone Group, one of the UK’s largest Chartered Financial Planning firms, has entered into a downstream buyout agreement with Wakefield based Lofthouse Gate Ltd.

Founded in 2005, Lofthouse Gate offers advice across the financial planning spectrum and specialises in providing pension and investment planning for SMEs and their staff.

The deal has been struck under the Fairstone's downstream buyout (DBO) model, which involves the South Tyneside company taking an initial minority stake before integrating the business over a number of years.

Upon completion, the transaction will bring revenues of £850,000 to the Fairstone Group and additional funds under advice of approximately £90m.

Roger Fayle, director at Lofthouse Gate, said:

"Our decision to join Fairstone was based on their market leading support and resources, which will enable us to offer a more efficient client proposition.

"Making use of Fairstone's core technology platform and their effective client acquisition programme will enable us to spend more time helping our clients to achieve their financial goals."

Lee Hartley, chief executive of Fairstone Group, added:

"With three decades of experience in financial services, Roger and his team bring a clear and efficient approach to his work, incorporating regular meetings and contact to build long-term client relationships.

"We are very pleased to have a company of this quality join the Fairstone Group. For us, it is vital to have both a business and cultural fit with the companies who decide to join us.

"Having spent time with the team at Lofthouse Gate we are incredibly excited about our future working together."

Original aticle Insider Media