Fairstone Financial buys Glasgow adviser Chartermarque

Newcastle-based Fairstone Financial Management has announced the acquisition of Glasgow based financial adviser Chartermarque, securing gross fee income of £1 million together with funds under management of £200 million.

“The announcement follows Fairstone being named the most acquisitive wealth management firm in the UK for 2020 and the second most acquisitive firm overall in the country in the ICAEW Corporate Financier annual review,” said Fairstone.

“This acquisition by the full-service wealth management house, further highlights the strength of Fairstone’s unique proprietary Downstream Buy Out (DBO) acquisition model which integrates ambitious IFA firms into the group, typically over a two-year period, prior to final acquisition …”

Based in St Vincent Street, Glasgow, Chartermarque is a “whole-of-market advice firm” specialising management of investment and retirement portfolios.

“The acquisition brings an additional 200 clients into the group together with Chartermarque’s four advisers and four support staff,” added Fairstone.

Fairstone CEO Lee Hartley said: “We are delighted to complete the final acquisition of Chartermarque which is a genuinely high-quality business with a proven leader in Scott Morton.

“We have worked closely with the team at Chartermarque throughout the integration phase and they share our core values of putting clients at the heart of everything we do, making them an excellent fit for Fairstone.

“Within Fairstone, we work hard to ensure our proposition gives firms the framework they need to significantly grow their businesses, without compromising on client service or independence. Finalising this deal with Chartermarque signifies a valued addition to our group.”

Morton said: “Continuing to meet our clients’ needs in a rapidly changing environment has been at the forefront of our decision to become part of Fairstone.

“The desire to continue to provide independent advice was particularly important and Fairstone’s financial strength allows further investment in people and infrastructure – all for the ultimate benefit of our valued clients.

“Fairstone provide the financial strength and stability that a smaller firm like ours will benefit from together with providing the technology that is vital in today’s marketplace.”

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