Avidus Scott Lang has been acquired under what Fairstone called its “Downstream Buy-Out Model”.
Avidus specialises in pension planning, asset management and estate planning, as well as having a long-established expertise in bespoke services to high net worth individuals and corporate clients across the UK.
The deal adds £350m of assets under management and £2m in revenues to Fairstone.
The Sale firm’s advisers will get access to Fairstone’s Paraplanning and customer acquisition services and core technology platform client reactivation services.
Ian Thomasson, financial adviser at Avidus Scott Lang, said: “By integrating with Fairstone we are able to deliver increased quality of service to our clients.
“Fairstone already has an enviable record of reactivating clients and in new client acquisition, which is vital to us as we look to grow the business. We will also seek to selectively grow the business through acquisition and Fairstone’s backing will allow us to do this more efficiently.
“We are committed to providing the highest levels of advice possible, and feel that our new relationship with Fairstone will allow us to reduce time spent on back office tasks and focus on delivering the service our clients deserve.”
Firms joining Fairstone can also be involved with its newly launched academy programme that helps advisers to achieve Chartered status.
Lee Hartley, chief executive of Fairstone, said: “Avidus Scott Lang is a great cultural fit for Fairstone. We are always looking for partners who will benefit from our structure and, by removing some of the pressure from back office tasks, we can help them grow their business and service their clients.”