Fairstone has bought Aberdeen-based Forbes Lawson Wealth Management for an undisclosed sum
The deal will see Fairstone’s funds under management hit more than £17bn, with a client base now exceeding 125,000 across the group.
Forbes Lawson initially partnered with Fairstone in 2021 through the company’s downstream buy-out programme.
This model provides capital investment, centralised resources and access to portfolios through Fairstone’s investment management team.
It allows firms to maintain operational independence while building towards full acquisition.
Fairstone chief executive Lee Hartley said: “We’re delighted to welcome Forbes Lawson into the Fairstone family. Their established reputation and client-first approach align perfectly with our values and long-term vision. The Forbes Lawson acquisition will play a pivotal role in building our presence in Aberdeen, a key location in the broader plan to drive continued growth throughout Scotland.”
Richard Macmillan, director at Forbes Lawson, said: “The support we’ve received since partnering with Fairstone in 2021 has been excellent and has enabled us to continue growing while focusing on providing exceptional service to our clients.
"Fairstone’s reputation as the UK’s largest and most trusted independent, wealth advisory firm was a huge factor for us and we are thrilled to officially join their team. Their buying power allows us to work with some of the world’s leading fund managers, offering premium investment solutions at the best value for our clients."
In April Fairstone made changes to its organisational structure across its wealth advisory, training and central paraplanning functions.
The change resulted in six managing directors being appointed with three joining the northern, central and southern regions of the UK.
At the start of 2024 Fairstone announced it was moving to a single charging structure with an ongoing advice fee of 80 basis points, as it looked to meet consumer duty requirements.
amy.austin@ft.com
