Consolidator Fairstone has purchased south west-based financial planning firm Sovereign Wealth Management through its downstream buy-out model.

Financial terms of the deal are unknown.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

With offices in Bath and Bristol, the acquired company is a whole-of-market advice firm specialising in investment and retirement portfolios.

Fairstone CEO Lee Hartley said: “We are delighted to complete the final acquisition of Sovereign Wealth Management, having worked hand-in-hand with them throughout the integration phase.

“The team are a strong cultural fit for Fairstone, with high-quality individuals who really care and put clients at the heart of what they do.”

The deal brings 1,500 clients and £1.25m gross fee income to Fairstone.

Fuelling growth through downstream buy-out model

Fairstone has carried out several acquisitions through its downstream buy-out model.

Under this model, the company typically purchases a stake in the to-be acquired firm, in order to integrate it over a two-year period, before the final takeover.

Fairstone’s ongoing buying spree

Last week, Fairstone acquired South Wales-based UskVale Financial Planning, which specialises in the management of investment and retirement portfolios.

It also snapped up Berkshire-based advice firm Chiltern House, and Lincolnshire-based MT Financial Management recently.

It followed the company’s previous acquisition of two advice firms in the UK that added £215m in FUM to its books.

In January this year, Fairstone bought Hamlyn Financial Services and Wagstaffs Wealth Management.