Fairstone has completed a major expansion in the West Midlands, acquiring Prosperity Wealth in Brierley Hill, marking the wealth management group\u2019s largest deal to date.<\/p>\n
Founded in 2010, Prosperity Wealth provides wealth management, cash flow planning, corporate financial planning, and employee benefits advice.<\/p>\n
The firm employs 80 staff, including 49 advisers, serving more than 5,000 clients, primarily in the West Midlands, with \u00a31.5bn in assets under management.<\/p>\n
The acquisition follows a partnership that began in July 2023 under Fairstone\u2019s Downstream Buy Out (DBO) programme, which supports independent advisory firms through growth investment before full acquisition. Prosperity Wealth has now fully joined the Fairstone group.<\/p>\n
Matt Bell, head of office at Prosperity Wealth, said: \u201cWe\u2019re really excited to become part of the Fairstone group. We wanted to join Fairstone because it offers us the opportunity to create a real step-change in growth while remaining a trusted source of independent financial advice \u2013 in many respects, it\u2019s the best of both worlds. Over the past two and a half years since we first partnered with Fairstone, we\u2019ve really benefited from the excellent support we\u2019ve received and the business has already grown substantially as a result. Fairstone\u2019s commitment to client service excellence matches our own values. The greater resources, support and economies of scale they offer mean our clients benefit in the form of reduced fees, a wider choice of products and the enhanced financial security they get from being part of one of the UK and Ireland\u2019s largest and most trusted wealth management groups.\u201d<\/p>\n
Prosperity Wealth\u2019s Brierley Hill office will now serve as Fairstone\u2019s hub for the West Midlands. Fairstone\u2019s 11 hubs across the UK and Ireland are being developed into fully operational centres that replicate head office functions at a local level.<\/p>\n
Mike Slater, managing director for Fairstone\u2019s Central region said: \u201cProsperity Wealth\u2019s status and influence in the region made it an obvious choice to become our hub for the West Midlands. Matt and his team will now be in the vanguard as we look to extend our client base across what is one of the UK\u2019s most thriving regions. With the West Midlands having one of the country\u2019s highest rates of new business formation and a rising population of entrepreneurs, business owners, and senior professionals, the need for trusted, Chartered, independent financial advice has never been greater. We can\u2019t wait to work with Matt and his team to bring all the benefits of Fairstone to the region.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Acquisition brings 80-strong team, 49 advisers, and \u00a31.5bn in client assets under management to the group\u2019s West Midlands expansion<\/p>\n","protected":false},"author":266702,"featured_media":2109375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57362],"coauthors":[127717],"class_list":["post-2109373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","tag-greater-birmingham","tag-top-story"],"yoast_head":"\n