Fairstone has acquired two Aberdeen-based financial advice firms, City Gate Aberdeen and Albyn Associates.
The wealth management group has also opened a new office in Aberdeen, which both have now relocated to.
City Gate Aberdeen, led by Alan Johnston, was founded September 2002 and provides financial planning, mortgage and protection services; managing more than £100m of assets. The firm first partnered with Fairstone in 2023 through its Downstream Buy Out (DBO) programme.
Albyn Associates was founded in 1998 and offers financial planning and mortgage services, managing more than £80m of assets. The firm, led by Colin MacLennan and Charlie Thomson, signed up to the DBO programme in December 2023.
Fairstone chief executive Steven Cooper said: “This is a significant move for us in a strategically important area of the UK, where we see great potential for further expansion.
“Aberdeen and northern Scotland have a strong tradition of entrepreneurial, internationally-connected businesses which are increasingly shaped by the energy transition.
“We see this creating strong demand for the kind of sophisticated financial planning, private wealth and intergenerational advice which we specialise in.”
