Fairstone’s latest catch, a firm of independent financial advisers headquartered in Wales, specialises in assisting clients with all aspects of investment, pensions, life insurance and tax planning.
The acquisition was first announced in April as part of Fairstone’s Downstream Buy Out programme, in which it provides rounds of financing to a fledgling company before absorbing it further down the line.
The deal with DHD will bring £260m in funds under management to UK’s largest chartered financial planning firm and an additional £1.5m of revenue.
The principals at DHD, including Aled Davies, Clive Davies and Denise Jacob, will join the new firm, followed by a team of four advisers and five support staff.
Fairstone chief executive, Lee Hartley was pleased that the DHD team had “embraced the Fairstone proposition from the outset.”
“DHD is an extremely well organised and robust business which also enjoys a strong and loyal client base,” he continued.
“As part of Fairstone’s offering, DHD will benefit from the unique range of growth and support services that we can provide. This means that the team at DHD can focus on their clients whilst the back-office, marketing and client activation work are boosted by the broader Group, enabling the team to set their growth ambitions to a new trajectory.”
