The company has fully-acquired Lancashire-based McParland and Partners, which employs a number of Chartered Financial Planners.
The eight advisers and 15 support staff at McParland and Partners have joined Fairstone.
The deal completes the purchase of the company under the downstream buyout model. It is the latest in a long line of takeovers by Fairstone.
Based in Nelson, Lancashire and operating satellite offices in Manchester and Sheffield, McParland & Partners first partnered with Fairstone in July 2014. The company offers advice to SMEs and private clients as well as providing independent trustee services.
The acquisition brings total revenue of £1.8m to the Fairstone Group and funds under management of approximately £160million.
Lee Hartley, CEO of Fairstone Group, said: “Sean’s vision has always been to provide the highest quality independent financial planning and investment services. McParland and Partners boasts a senior team of Chartered Financial Planners, supported by highly experienced staff, which creates an ideal fit for a Chartered group such as Fairstone. Their consistent, client-centric approach is vital as we move into a period of political and economic uncertainty and we very much look forward to our continuing work with the team.”
Sean McParland, principal at McParland and Partners said: “The acquisition by Fairstone means that our clients can look forward to a continuation of the high quality of advice and service they have enjoyed. The strength of Fairstone’s technology input will provide significant opportunities to continue to grow the business well into the future and to leverage a national brand of Chartered financial advisers.”
The DBO model involves Fairstone taking an initial minority stake in an IFA business and integrating it over a number of years before completing a final acquisition.