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Fairstone Group Completes UK Asset Manager Acquisition

The financial terms of the deal were not disclosed.
UK financial planning firm Fairstone Group has
completed the full acquisition of Hase Osborne Asset
Management. In September,
the firm signed up two new advisory firms to its downstream
buy-out programme.
This is the fourth successful transition in 2017 for a
DBO partner being fully acquired by Fairstone and brings
total revenue of £2.1 million ($2.8 million) to the
Fairstone Group with funds under management of approximately
£250 million, the firm said in a statement.
Based in Wendover, Buckinghamshire, Hase Osborne Asset Management
offers wealth management and holistic financial planning
solutions for high net worth individual. It has 14 staff
providing specialist pensions, investment and tax planning advice
to 650 clients.
The financial terms of the deal were not disclosed.
"This marks another significant step in our growth strategy and
highlights our commitment to those firms which join our flexible
buy out scheme," said Lee Hartley, chief
executive of Fairstone Group. "A number of businesses
have joined us this year and the common factor is that clients
are never commoditised and their interests are protected. We look
forward to helping John and the team grow their business through
the scale and support we can bring and with Fairstone’s
whole-of-market proposition and the ability to manage client
portfolios through our low-cost discretionary service we believe
we can offer proven and unrivalled opportunities to our new
partners.”