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Fairstone acquires South West wealth manager

Chartered Financial Planning group Fairstone has acquired South West-based Sabre Financial in its ninth acquisition of 2020.

Sabre Financial, based in Kingsbridge in South Devon, has joined Fairstone through its downstream buy out programme, bringing 1,000 clients, four advisers and six support staff to the group.

The latest acquisition for the Financial Planning group has a gross annual fee income of £1m and funds under management of over £160m.

Fairstone’s buy-out model typically sees firms on the integration scheme for two years before full acquisition.

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Fairstone signed up the eighth firm this year, West Midlands-based Complete Financial Planning, to its buy-out programme in September. 

Total funds under management for the group are now over £1.3bn.

Sabre Financial has started the phased pre-acquisition process under the buy-out programme.

It specialises in pensions planning and investment management.

Fairstone CEO Lee Hartley said: “We are delighted to welcome Sabre Financial into our Downstream Buy Out programme. The team at Sabre Financial bring a first-class and modern approach to their work, centred around building quality long-term client relationships, 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 and we look forward to working with the team at Sabre Financial to help them to grow their business further within our unique DBO programme.”

Fairstone is a full-service wealth management house delivering integration-led growth and its unique DBO approach ensures that companies are fully-integrated with Fairstone prior to final acquisition, ensuring a seamless transition for clients and staff.

Sabre Financial principal Dale Came said: “We believe that a relationship built on trust between customer and advisor is paramount; this enables us to provide great advice and service. The move to Fairstone is key to ensuring that this continues moving forward.

“It allows us to grow our operation, remain independent and able to service client needs to the highest standard, whilst having the backing of one of the largest Chartered financial planning firms in the UK.”

Headquartered in Newcaste, Fairstone is one of the UK’s largest Financial Planning firms with over 69,000 clients and operates nationally across 42 locations.

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