Tyneside financial planning firm Fairstone has signed up a Nottingham company to its acquisition programme.
The Boldon company has signed up James Ryan Thornhill to its Downstream Buy Out programme, which sees Fairstone taking a minority stake in companies with the intention of acquiring them in full at a later date.
The deal increases the firm’s footprint in the East Midlands and boosts Fairstone’s growth plan for 2021, bringing more than more than 1,000 clients, 13 staff and gross annual fee income of around £1.2m.
Fairstone CEO Lee Hartley said: “We are delighted to welcome James Ryan Thornhill into our Downstream Buy Out programme.
“The team at James Ryan Thornhill are committed to building quality long-term client relationships and their focus on quality advice and superior service is exactly what we are looking for in a business.
“Within Fairstone, we work hard to ensure our proposition gives firms the framework, funding and support they need to significantly grow their businesses, without compromising on client service or independence.
“We look forward to working with the team at James Ryan Thornhill through our DBO programme to transform their business into the very best version of itself that it can be.”
Company principal at James Ryan Thornhill, Del-Ryan Rafter, said: “We have taken the decision to join Fairstone to provide reassurance and long-term continuity for our clients. Of the various firms that we had discussions with, Fairstone stood out and the feeling of being part of the Fairstone family particularly appealed.
“Since partnering with Fairstone we are enjoying the best of both worlds; being able to provide business as usual to our clients whilst having the support of a major national Chartered IFA firm.”
