Fairstone unveils latest acquisitions
Chartered financial planning firm Fairstone has acquired Mortgage Find and Lofthouse Gate.
The deals bring over 8,000 clients into the group together with 20 advisers and 14 support staff.
The acquisitions also secure a gross fee income of £2.3m for Fairstone, together with funds under management of more than £120m.
Lee Hartley, chief executive of Fairstone, said: “We are delighted to complete the final acquisitions of Lofthouse Gate and Mortgage Find, having worked closely with them through our proprietary DBO programme.
“Both Lofthouse Gate and Mortgage Find are dedicated to quality service and like Fairstone, take a client centric approach to business.
“Fairstone’s business model delivers strong organic growth that leads to a transfer of client ownership and also places a focus on firms with an appetite to grow and develop, which is an ambition shared by both Lofthouse Gate and Mortgage Find.
“We are delighted to finalise these two deals and bring two further respected businesses into the group.”
London-based Mortgage Find, which has an annual lending figure of around £280m, specialise in arranging both residential and buy-to-let mortgages.
Mark Alexander, company principal at Mortgage Find, added: “We joined forces with Fairstone to allow us to utilise their excellent compliance systems and structures so that we could in turn spend more time focussing on clients and their needs.
“This deal means that we can combine our strengths with Fairstone to give our clients a fantastic service and proposition.”
Lofthouse Gate specialise in pension planning and investment management.