Fairstone 'boosts market position' with takeover

A national wealth manager has expanded with a takeover.

Fairstone has bought Imagine Financial Planning.

Bosses say the deal for the Harrogate-based operator takes Sunderland-headquartered Fairstone’s funds under management to more than £18 billion and “reinforces its position as one of the UK’s largest wealth management firms”.

The agreement comes after Imagine Financial Planning joined Fairstone’s downstream buy-out programme in 2021, which allows business owners to work towards a sale at a future date.

It also follows a bullish outlook from Fairstone officials, who recently revealed the firm – which saw revenue grow 32 per cent in its 2023 financial year – is in “advanced discussions” with operators to continue bolstering its UK-wide network.

Shona Lowe, managing director North at Fairstone, which operates bases in London, Belfast and Glasgow, said: “Imagine Financial Planning’s strong reputation and client-first approach make it an excellent fit.

“The strength of our downstream buy-out programme lies in its ability to deliver significant value to our partner firms while maintaining their independence during the partnership phase. 

“This success underpins our continued growth strategy and the appeal of our unique model.”

Nigel Woods, director at Imagine Financial Planning, added: “The support we’ve received through the downstream buy-out programme has been instrumental in enabling us to grow while continuing to deliver exceptional service to our clients.

“Joining Fairstone is the next step in our journey, and we’re excited to continue growing as part of the group.”

Fairstone complements its head office on Sunderland’s Doxford International Business Park with a catalogue of national bases that include sites in Bridgend, Bristol, Dundee, Nottingham, Peterborough, Tunbridge Wells and Wakefield.

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