Parent company, Moneygate Group Ltd will, from this week, be known as Fairstone Group Ltd. With revenues of £26 million annually, the Fairstone Group, is a privately-owned business with backing from UK based private equity firm Committed Capital, two North East-based venture capital companies, Northstar Ventures & NEL, and a Swiss-based family office.
The group has Funds Under Advice of £4.2 billion and Funds Under Management of £1.5 billion for 60,000 clients.
Lee Hartley, chief executive of Fairstone Group, said: "Following the rebrand of our customer facing business from Moneygate to Fairstone in 2013, this final stage of our rebrand completes our work to create a single, strong identity across our group. We have seen very significant growth over the last three years and this re-brand is part of our ambition to raise the profile of Fairstone across the industry and in the eyes of our customers.
"We continue to seek robust, like-minded IFA firms to join the Fairstone family and to benefit from our powerful business support structure and unique buy-out proposition."
Headquartered in Newcastle upon Tyne with regional offices in London and Bristol, the group operates a core technology platform which enables the delivery of financial solutions across advisory, investment management and direct channels.
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Fairstone Financial Management is the group's primary regulated business and is a national firm of independent financial advisers providing specialist and holistic advice across the Financial Planning spectrum. The company has a nationwide team of 200 advisers supported by a back-office team of Paraplanners, researchers and customer support staff.
Fairstone chairman, David Hickey added: "Customer choice and exceptional service are at the core of everything we do at Fairstone and the bringing-together of our brands under one banner will provide greater transparency for our clients. Fairstone's distinct channels are bound together by its proprietary technology platform and core processes which ensure high-quality, robust and repeatable outcomes for our customers.
"We are dedicated to building Fairstone's business throughout the UK and the recent opening of our new London offices will provide close and dedicated access to our team of specialists."