UK-based wealth manager Fairstone has added Richardson Premier Wealth, marking the 100th partnership under its Downstream Buy Out (DBO) programme.
Richardson Premier Wealth is a family-owned business headquartered in Halifax, West Yorkshire, with additional footprint in Glasgow.
The firm advises more than 200 clients and manages just over £50m in assets.
Richardson Premier Wealth principal Paul Richardson said: “We’re thrilled to be joining Fairstone. From the first conversation we had with their team, it was clear that their focus on putting the client first and creating long-term, sustainable growth was a perfect fit for us.”
The DBO model provides partner firms with capital investment, operational resources, and regulatory support, enabling them to focus on performance without the burden of back-office or compliance tasks.
The programme has contributed to Fairstone’s growth, with the firm now managing $20bn in assets for over 60,000 wealth clients.
The consolidator has set a target to double this to £40bn ($54.8bn) by the end of 2030.
To support its growth ambitions, Fairstone is refining its DBO model to focus on higher valuations for wealth advisory firms.
Upgrades include a “dynamic” valuation framework linked to business performance and client outcomes.
Fairstone CEO Lee Hartley said: “We are absolutely delighted to welcome Richardson Premier Wealth Ltd as the 100th DBO firm to join Fairstone.
“It is a high quality, trusted independent financial adviser which really looks after its clients and is firmly focused on sustainable growth, making it a perfect partner for us.
"UK’s Fairstone adds 100th firm under DBO Programme" was originally created and published by Private Banker International, a GlobalData owned brand.
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