The acquisition of John F. Loughrey Financial Services is Fairstone Ireland’s sixth. Credit: Fairstone Ireland.

Wealth manager Fairstone Ireland has expanded its domestic footprint with the purchase of John F. Loughrey Financial Services, a financial planning firm in Letterkenny.

This acquisition is Fairstone Ireland’s sixth and increases its assets under management (AUM) to €1.5bn ($1.58bn).

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Fairstone Ireland CEO Paul Merriman said: “Letterkenny and the broader Northwest region are critical to our growth strategy, and this acquisition strengthens our presence in this key area.

“Together, we will continue to deliver outstanding service while elevating the standard of wealth management for clients in the region.”

With more than four decades of industry experience, John F. Loughrey offers a wide range of services, including investment advice, retirement planning, deposit accounts, protection, savings, and mortgages.

This acquisition is set to broaden Fairstone’s geographical reach into the Northwest region.

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The partnership between Fairstone Ireland and John F. Loughrey is expected to bring improved opportunities for both entities and the communities they serve.

Fairstone Ireland mergers and acquisitions head Anthony O’Driscoll said: “The financial landscape is increasingly complex, and scale is key to delivering the best solutions.

“By partnering with John F. Loughrey Financial Services, we deepen our presence in Letterkenny, a vibrant and growing area, ensuring we can meet the evolving needs of clients here and across the Northwest.”

Last month, Fairstone acquired Aberdeen-based Forbes Lawson Wealth Management.