'More to come' as wealth manager seals 100th deal

A wealth management firm is eyeing further expansion after notching a landmark agreement.

Fairstone has secured its 100th downstream buy-out programme partnership.

The Sunderland-headquartered national operator has welcomed Halifax-based Richardson Premier Wealth to its stable.

And bosses say they are in “active discussions with a number of potential partners” to grow beyond the century mark and double assets under management to £40 billion by the end of 2030.

Family-owned Richardson Premier Wealth is run by Paul Richardson, and advises more than 200 clients, with assets under management of more than £50 million.

Fairstone’s downstream buy-out model allows business owners to work with the company and grow operations while planning for a sale at a future date.

Operating for more than ten years, officials say it has played a key role in boosting Fairstone’s wealth client base beyond 60,000 and assets under management to £20 billion.

Lee Hartley, chief executive of Fairstone, which has more than 50 offices across the UK and Ireland, said: “Richardson Premier Wealth is a high-quality, trusted independent financial adviser.

“It really looks after its clients and is firmly focused on sustainable growth, making it a perfect partner for us.

“Reaching our 100th downstream buy-out is a proud moment, but it is nowhere near a final destination.”

Paul Richardson, principal at Richardson Premier Wealth, added: “This is a real win-win for us and our clients.

“By helping us with regulation, compliance, resources and technology support and innovation, Fairstone will enable us to spend more time focusing on clients and pursuing our growth plans.”

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