Fairstone has expanded its presence in East Anglia with the acquisition of Norfolk-based Allen Tomas & Co.
The Dersingham firm, near King’s Lynn, advises more than 260 clients and manages £120m of assets.
Founded in 2014 by independent financial planners Ben Allen and Michael Crisp, it provides investment, retirement planning and wealth management services to individuals and businesses.
Allen Tomas & Co joined Fairstone’s Downstream Buy Out (DBO) programme in July 2023 and has now completed its transition into the group. The DBO model allows firms to access capital investment, operational resources and compliance support before being fully acquired.
Fairstone group managing director Russell Bignall said: “The acquisition underscores our dedication to expanding regionally and nationally. With our sights set on doubling client assets under management from £20bn to £40bn over the next five years, we’re keen to partner with similarly ambitious firms across the UK and Ireland.”
Allen, business principal and chartered financial planner at Allen Tomas & Co, said: “Fairstone’s focus on putting the client first was so important for us. Our clients will benefit from the support, reassurance and IT capabilities of a major national firm while still getting personalised advice informed by our local knowledge.
“Importantly, Michael and I will retain our Chartered Independent status, so we can continue to provide unbiased advice from across the market. With compliance and regulatory support taken care of, we can dedicate more time to advising clients, growing the business and working with professional connections.”
Fairstone is one of the fastest-growing financial services organisations in the UK and Ireland. It operates from more than 50 locations, employs over 1,250 people and serves 60,000 wealth clients.
In June, Richardson Premier Wealth became the 100th firm to join Fairstone via the DBO route, reinforcing the group’s position as one of the most active acquirers in the advice sector.
