Angela Marson

"Fairstone has enabled us to be financially secure and remain working in the industry we love. Profitability is up 55% by being smarter and more efficient using the Fairstone framework."

Angela Marson

Business highlights

post transaction
Clients numbers ↑ 40%
Fee income ↑ 42%
Profitability Increased

 

Four years ago, Fairstone acquired Staffordshire-based Angela Murfitt Financial. Here, business principal, Angela Marson, talks about the acquisition process and life after the sale.

“Being part of the Fairstone group has enabled the business to grow organically in a safe and compliant manner,” says Angela Marson.

“Since being acquired by Fairstone, we have seen a 40% increase in client numbers and we have grown our turnover, FUM and our net profits significantly. 

“More importantly, due to the resources we now have access to, we can spend more time with clients to give them the very best service and experience.”

Angela explained that the company which specialises in investments, retirement and estate planning, first joined Fairstone’s Downstream Buy Out (DBO) process in 2013 and was fully acquired by Fairstone three years later.

Angela said: “We looked to join Fairstone as we needed a firm to provide structure and compliance support so that the advisers could be freed up to advise clients and develop the business.

Ambition

“Fairstone stood out through the technology and compliance support that was available. The ambition of the business was also a motivating factor.”

Fairstone, which incorporates one of the UK’s largest Chartered financial planning firms, integrates high quality financial advisory firms through its unique DBO model, which has led to the incorporation of 54 firms since 2011.

Angela added: “I would say that one of the biggest positives post acquisition is having a bigger support network to assist in business development. Since partnering with Fairstone, the business has grown significantly.

“As we worked so closely with Fairstone during the integration, the acquisition process was seamless, and it was very much ‘business as usual’ for us and our clients.

Business development

“One of the biggest positives of joining Fairstone is having a bigger support network to assist in business development.

“It’s comforting knowing that there is someone in our organisation who can help with pretty much any query.  It’s great that other advisers are also happy to help and share their experiences.”

Today, Fairstone is a national firm with 42 locations, made up of 380 regulated advisers and 275 operational staff. Fairstone oversee more than £10.6 billion in funds under management on behalf of 34,000 wealth management clients.

Countrywide, Fairstone is seeing an 11% out performance across its entire portfolio of acquired businesses, which means the firms it is acquiring are delivering more revenue, profits and growth than either their forecasts or buy out agreements are based on.

Financially secure

Angela added: “We have outperformed to a higher level than 11% as we have used the Fairstone structure to leverage our connections. Being part of a national firm has enabled us to work with some well-respected professional connections who will only deal with bigger professional IFA firms and this is resulting in higher ticket business opportunities.

“Fairstone has enabled us to be financially secure and remain working in the industry we love. Profitability is up 55% by being smarter and more efficient using the Fairstone framework.

“In addition to this, I am now able to spend more time working with clients and undertaking less administration and worrying about compliance. All in all, I have better a much better work life balance.”

DBO