Chadney Bulgin said it had been approached by 60 potential acquiring firms before making a decision.

The deal, one of acquisitive Fairstone’s largest to date, will add 11,000 wealth and mortgage clients to Fairstone along with Chadney Bulgin’s 27 advisers and 38 support staff. 

The price for the deal has not been disclosed.

Chadney Bulgin is a whole-of-market Chartered advice firm which specialises in advice and management of investment and retirement portfolios. The firm has two offices, one in Fleet, Hampshire and the other in Chichester, West Sussex.

The acquisition was arranged via a structured buy out proposition, Fairstone’s acquisition scheme for larger firms.

Chadney Bulgin said that with a number of partners nearing retirement the firm had been on the look out for an acquiring firm for some time.

Chadney Bulgin’s principals David Thomas and Martyn Griggs said that Fairstone’s proposition and significant Chartered arm also enabled the firm to continue to provide independent advice to clients.

Mr Thomas said: "With a number of our partners approaching retirement, it was important to seek a potential acquirer who can take Chadney Bulgin to the next level. 

“Martyn and I spoke to over 60 firms with the primary aim of finding a Chartered firm with a very similar culture of placing the client at the heart of everything we do, whilst also looking after our staff. Fairstone fits those criteria perfectly.”

Mr Griggs added: “For several years, we have been searching for the right business partner to embrace our culture, philosophy, and principles, in continuing to provide the highest quality, client focussed, Chartered, independent financial advice.” 

Lee Hartley, CEO of Fairstone, said: “We are delighted to welcome Chadney Bulgin to the Fairstone family. The client-focussed team has almost three decades of experience in providing quality advice and exceptional service to their clients, making them an excellent fit for Fairstone.

“Welcoming Chadney Bulgin marks a valued addition to the group and continues our commitment to invest in quality, forward thinking firms that are on a clear upward trajectory. We are looking forward to working with the team to support them to significantly grow the business, without compromising on client service or independence.

Fairstone is based in Newcastle and has 42 locations in the UK. It has £12bn in FUM for 40,000 wealth clients.