Goodman Chartered Financial Planners in Kent and East Devon Associates will add 1,000 clients, 17 advisers and 11 support staff to Fairstone.
Combined, the firms bring gross fee income of over £2m and £215m in Funds Under Management.
Goodman Chartered Financial Planners, based in Tunbridge Wells, Kent, specialise in investments and IHT planning. It has four advisers, eight support staff and 520 clients. The firm has total fee income of £1.6m and more than £150m in FUM.
East Devon Associates in Sidmouth specialises in pensions and investments and has two advisers, three support staff and 475 clients. The firm has total fee income of £500,000 and more than £65m FUM.
Both firms join Fairstone’s Downstream Buy Out (DBO) programme, a phased acquisition scheme.
Fairstone chief executive Lee Hartley said: “Both Goodman and East Devon Associates have a strong focus on providing their clients with first-class service, making them an excellent fit with Fairstone, both commercially and culturally.”
“We look forward to working with both companies to help them grow their businesses further.”
Fairstone boasts of being one of the largest Chartered Financial Planning firms in the UK with annual fee income of over £65m. It operates from 42 locations with a head office in Newcastle. Fairstone has acquired 43 firms since 2011 and now has 345 regulated advisers and 265 operational staff who look after 65,000 clients and £10.8bn in client assets.