Sunderland-based Fairstone Financial Management said it completed the full acquisition of Aberdeen-based Forbes Lawson Wealth Management Limited, further strengthening its presence in Scotland.
The acquisition takes Fairstone’s funds under management to more than £17 billion, with a client base exceeding 125,000 across the group.
“Scotland continues to be a key focus for Fairstone, which now operates or partners with over 20 locations across the country,” said Fairstone.
“The addition of Forbes Lawson, a well-established firm in the North East, enhances Fairstone’s foothold in Aberdeen, a city offering significant growth opportunities.
“Forbes Lawson initially partnered with Fairstone in 2021 through the company’s Downstream Buy Out (DBO) programme.
“The DBO model provides capital investment, centralised resources, and access to some of the best portfolios available to investors through Fairstone’s Investment Management team. This allows firms to maintain operational independence while building towards full acquisition.”
Fairstone CEO Lee Hartley said: “We’re delighted to welcome Forbes Lawson into the Fairstone family. Their established reputation and client-first approach align perfectly with our values and long-term vision. The Forbes Lawson acquisition will play a pivotal role in building our presence in Aberdeen, a key location in the broader plan to drive continued growth throughout Scotland.”
Richard Macmillan, Director at Forbes Lawson, said: “The support we’ve received since partnering with Fairstone in 2021 has been excellent and has enabled us to continue growing while focusing on providing exceptional service to our clients.
“Fairstone’s reputation as the UK’s largest and most trusted independent, wealth advisory firm was a huge factor for us and we are thrilled to officially join their team. Their buying power allows us to work with some of the world’s leading fund managers, offering premium investment solutions at the best value for our clients.”
Ian Robinson, Director at Forbes Lawson, added: “We are delighted to have joined Fairstone. The support and resources available from Fairstone throughout the DBO programme have been outstanding, and we feel confident that joining Fairstone will be hugely beneficial for both our business and our clients.
“Being part of a national firm with such scale and expertise allows us to enhance our offering while maintaining our client-focused approach. We look forward to continuing to grow with Fairstone by our side.”