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IFA consolidator completes eighth deal for 2020

News Team, 28/10/2020

Fairstone chief executive Lee Hartley, with Andrew Cohen Associates principal Frank Banks-Seeney

IFA consolidator Fairstone has closed its latest deal, which will bring in 850 clients and around £150 million of assets under management.

The acquisition is of Essex-based Andrew Cohen Associates, a whole-of-market advice firm specialising in advice and management of investment and retirement portfolios. 

The acquisition brings an additional 850 clients into the group together with Andrew Cohen Associates’ four advisers and six support staff. The acquisition also secures gross fee income of £1 million for Fairstone together with funds under management of £150 million.

The acquisition was made via Fairstone’s “downstream buy out” (DBO) model, under which it takes a small stake in a firm, and integrates it gradual...


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