Belfast Telegraph

UK financial giant in buyout arrangement with Belfast company ASM

ASM directors Keith Storey, Haydn Gibson, Stephen Sproule and Brian Craig
ASM directors Keith Storey, Haydn Gibson, Stephen Sproule and Brian Craig

By Staff Reporter

One of the UK's largest chartered financial planning firms has announced a new buyout arrangement with Belfast company ASM Financial Planning Limited.

Fairstone has signed up ASM to its downstream buyout (DBO) programme - a process that allows Fairstone to work with advisers and firms typically over a four-year period to integrate them into its business before fully acquiring the firm.

The deal brings more than 3,000 clients, seven advisers and a team of nine support staff to the wider business as well as gross fee income of £1.5m and Funds Under Management of circa £250m.

Based in Belfast, ASM Financial Planning provides pension, protection and investment advice to high net worth individuals as well as local and international businesses based in Northern Ireland.

Haydn Gibson, managing director of ASM Financial Planning, said: "We are enthusiastic about our link-up with Fairstone. As one of the largest Chartered IFA firms in the UK, we believe this will enhance our ability to offer a competitive and professional service to our extensive Northern Ireland client base.

"The arrangement with Fairstone provides us with economies of scale that will enable us to focus on relationships and to provide quality advice to our clients."

Fairstone chief executive Lee Hartley added: "We are delighted to bring another quality business into our downstream buyout programme. ASM will now be able to take advantage of Fairstone's support and infrastructure to grow the business without compromising on client service or independence.

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"Our DBO programme continues to be a core driver of growth for the business, reversing the traditional buy and build approach. Integration plays a key role in a firm joining the programme and the DBO proposition ensures all firms benefit."

Belfast Telegraph