Fairstone has expanded its operations once with with the acquisition of two independent financial advice firms in the North East.

The fast-growing wealth management group has bought Grainger Financial Planning, which is based in Sunderland, and Riverstone Wealth Management, which is based in Morpeth in Northumberland.

Grainger Financial Planning offers a wide range of financial planning and wealth management services and has been advising clients for more than 15 years. The firm serves almost 400 clients and has £120m of client assets under management.

Riverstone Wealth Management was established in 2009 and provides financial advice to more than 65 clients with £63m of client assets under management.

Both firms first partnered with Fairstone in May 2024 through the unique Downstream Buy Out (DBO) programme.

Paul Clough, firm principal at Grainger Financial Planning alongside Mike McGurrell, said: “We’re really pleased to be joining Fairstone as a company based in Sunderland, like ourselves, it genuinely feels like we’re coming home.

Mark Wiseman, founder and firm principal at Riverstone alongside brother Ian Wiseman, said: “Working with the Fairstone team over the past two years has been great and we’re looking forward to a really bright future.

Heartland

Steve Easter, Managing Director for Fairstone ’s Northern region, said: “It is fantastic to be able to welcome Paul, Ian, Mark and the Grainger and Riverstone teams to Fairstone The acquisition of both firms demonstrates our commitment to further growth in our North-East heartland and to bringing on board ambitious, growing financial advice and wealth management firms.

With our group headquarters in Sunderland, we know from first hand that this region is home to a thriving community of entrepreneurs, business owners and families who are creating and preserving significant wealth, and who value the kind of long-term, trusted relationships that sit at the heart of good financial advice.<

Fairstone is one of the fastest growing financial services organisations in the UK and Ireland. It operates from more than 50 different locations, employs over 1,350 people serving over 60,000 wealth clients with client assets under management of more than £22bn.

The conpny's DBO model offers capital investment, operational resource, and regulatory support to partner firms, allowing them to focus on developing their performance without being restricted by back-office or compliance workload.

Pictured above is Fairstone Northern region Managing Director Steve Easter (second from left) welcomes (from left) Mark Wiseman of Riverstone Wealth Management and Mike McGurrill and Paul Clough of Grainger Financial Planning.