Fairstone buys Â£400m Berkshire-based advice firm Chiltern House
Consolidator Fairstone has snapped up Berkshire-based advice firm Chiltern House, thereby gaining around Â£400m in funds under management (FUM) and Â£2.6m gross fee income.
Fairstone closed the deal through its downstream buy out (DBO) model which involves integration of IFAs usually over a two-year period before final takeover. As part of the deal, four advisers and seven support and Chiltern have joined Fairstone.
Besides, the deal increases the consolidator's client base by 5...