A national wealth management firm has bolstered operations with a twin market move.
Fairstone has bought Grainger Financial Planning and Riverstone Wealth Management.
Bosses say the swoop for the businesses – which operate in Sunderland-headquartered Fairstone’s North East heartland – “demonstrates its commitment to further growth” in the region.
The deals come after the businesses joined Fairstone’s downstream buyout programme in 2024, which allows owners to work with the company and grow operations while planning for a sale.
Sunderland-based Grainger Financial Planning serves almost 400 clients and has £120 million of assets under management.
Riverstone Wealth Management, based in Morpeth, Northumberland, oversees £63 million of client assets under management.
Steve Easter, managing director for Fairstone’s northern region, said: “With our group headquarters in Sunderland, we know this region is home to a thriving community of entrepreneurs, business owners and families who are creating and preserving significant wealth.
“In acquiring Grainger and Riverstone, we’re bringing firms on board which share our values, strengthen our ability to support clients and help them build financial futures with confidence.”
Paul Clough, firm principal at Grainger Financial Planning alongside Mike McGurrell, said: “Joining Fairstone gives us the opportunity to grow the business, while maintaining our commitment to providing trusted, independent financial advice.”
Mark Wiseman, founder and firm principal at Riverstone Wealth Management alongside brother Ian, added: “Working with the Fairstone team over the past two years has been great, and we’re looking forward to a really bright future.”
The moves come just days after Fairstone strengthened its Scottish presence with a double deal for City Gate Aberdeen and Albyn Associates.
Operating from more than 50 bases across the UK, 1350-plus-staff Fairstone serves more than 60,000 wealth clients with assets under management of more than £22 billion.
Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day.
Find out how Bdaily can help →
Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.
