North East-based Chartered Financial Planning-focused adviser firm Fairstone has reported revenue and pro forma income grew 21% over the past year to £168m.

Assets under advice and management rose to £20bn in the year ended December 2024, underlying a period of strong growth for the firm, it said.

Fairstone has committed to plan to double the size of its business to £40bn of client assets under management by the end of 2030.

The acquisitive group provides Financial Planning and wealth management to more than 125,000 clients, including more than 60,000 wealth clients.

Fairstone has 12 regional hubs - 10 in the UK and two in Ireland - that are being developed into fully operational centres, it said. Overall the group operates from over 56 locations with a head office in the North East and a City office. Divisions include financial management, private wealth, corporate solutions, mortgage solutions and estate planning channels.

Fairstone employs more than 1,250 operational staff and regulated advisers.

Apart from its physical footprint, Fairstone has recently been developing a ‘digital-first service’ called Mineral which offers financial advice via video call.

The company says that Mineral will help to tackle the advice gap by making professional financial advice, “more accessible and more affordable.” Fairstone is embedding the service across its national network.

Mineral is designed to support individuals who are accumulating wealth and seeking to grow their financial position, the company says.

Fairstone’s Downstream Buy-Out (DBO) progressive acquisition programme has helped expand the group over many years by enabling it to buy and absorb other advice firms. Earlier this year, the group concluded its 100th DBO partnership deal with Yorkshire-based Richardson Premier Wealth Ltd.

The group has recently had several senior management changes after Fairstone founder Lee Hartley announced he would be stepping down from his CEO role to become deputy chair.

Last month, the group announced that Aldermore Bank CEO Steven Cooper would become its new CEO. He will take up his post later this autumn at the same time as Lee Hartley becomes deputy chair.

Fairstone chairman David Hickey 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."