Fairstone Acquires Prosperity Wealth for Expansion

Fairstone, a Sunderland-based wealth management firm, has made its biggest acquisition yet by purchasing Prosperity Wealth from Brierley Hill in the West Midlands. The deal, though undisclosed, signifies a significant expansion for Fairstone. Prosperity Wealth, established in 2010, employs 80 people, including 49 advisers serving over 5,000 clients across the UK, primarily in the West Midlands. The firm manages £1.5 billion in client assets and offers services like cashflow planning and corporate advice. Fairstone and Prosperity initially collaborated in July 2023, boosting the groups assets under management to £20 billion. This acquisition follows several recent deals. Both parties expressed enthusiasm about the partnership, with Prosperitys head highlighting growth opportunities, lower fees, and stronger security, and Fairstone praising the firms regional influence. Fairstone aims to reach £40 billion in assets by 2030 and seeks ambitious partners nationwide and in Ireland. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7959d95710e69a01