Consolidator Fairstone has completed the acquisition of Zimb Johnson Bespoke Financial Planning, a Lincolnshire-based advisory firm, for an undisclosed sum.
Set up in 1999, Zimb Johnson offers wealth management services to individuals and owner-managers of private companies, along with advice to trustees, family offices and charities.
Zimb Johnson was integrated through Fairstone’s proprietary downstream buyout (DBO) programme.
Zimb Johnson company principal Leigh Johnson said: “It became clear that increased regulation, compliance and reporting could restrict the time we might otherwise spend with our clients. Through working with Fairstone, we were offered significant support in these areas, combined with state-of-the-art technology and back-office systems.”
The transaction brings total fee income of around £850,000 and funds under management of nearly £200m to Fairstone. A total of four employees will migrate to Fairstone as part of the deal.
Fairstone Group CEO Lee Hartley said: “Bringing such a well-respected business into Fairstone marks an outstanding start to the year and underlines our intent to partner with high-quality firms who share our culture and are determined to grow, with our support. Having made a number of successful acquisitions in 2017 and greatly expanded our DBO programme we look forward to another successful year in 2018.”