Fairstone Group, a UK-based chartered financial planning firm, has completed the takeover of Hase Osborne Asset Management through its downstream buy out (DBO) programme.
Buckinghamshire-based Hase Osborne Asset Management provides wealth management and financial planning services to high net worth individuals (HNWIs). It offers pension, investment and tax planning services and employs 14 staff.
This is the fourth acquisition of the year by Fairstone via the DBO programme. Under this model, Fairstone takes an initial stake in the companies and integrates them gradually into the business by the end of an agreed period.
The deal adds £250m in funds under management and £2.1m in total revenue to Fairstone’s portfolio.
Fairstone Group CEO Lee Hartley said: “We look forward to helping John and the team grow their business through the scale and support we can bring and with Fairstone’s whole-of-market proposition and the ability to manage client portfolios through our low-cost discretionary service we believe we can offer proven and unrivalled opportunities to our new partners.”