Wealth manager eyes £40 billion growth target after strong results

A national wealth manager has reaffirmed a £40 billion growth target after posting strong financial results.

Fairstone saw revenue rise 21 per cent and pro forma fee income jump to £168 million in the year to the end of December 2024.

Bosses say the increases leave the Sunderland-headquartered company well placed to fulfil a blueprint aiming to double assets under management to £40 billion by the end of 2030.

Praising its downstream buy-out programme – which earlier this year secured its 100th partnership – and digital-first service Mineral that offers financial advice via video call, they add the firm is “ideally placed” to further scale across the UK and Ireland.

Formed in 2008 by Lee Hartley, Fairstone provides financial planning and wealth management support to more than 125,000 clients from offices across England, Scotland, Wales and Northern Ireland.

David Hickey, independent chair at the business – which last month announced ex-Aldermore Bank boss Steven Cooper will become its new chief executive later this autumn – said: “This is another strong set of results and is a tribute to the hard work, dedication and determination of our excellent team.

“With £20 billion of client assets under management, our continued growth reflects the ongoing success of our approach.

“The announcement of our new chief executive and signing of our 100th downstream buy-out deal makes us ideally placed to scale further across the UK and Ireland.

“We have our sights firmly set on helping many more people make confident and informed financial decisions about their future as we target £40 billion of client assets under management by the end of 2030.”

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