Fairstone is expanding its presence in Scotland with the acquisition of two firms and the opening of a new hub office in the Aberdeen area.
 
The fast-growing wealth management group has bought independent financial advice firms City Gate Aberdeen and Albyn Associates, both of whom are based in Aberdeen.
 
The two firms have relocated to Fairstone’s new hub office in Westhill on the outskirts of Aberdeen, where they join the rest of the group’s existing operation in the Granite City.
 
Fairstone CEO, Steven Cooper CBE, said: “We’re delighted to welcome City Gate Aberdeen and Albyn Associates to the group and to be opening our new office, which will form the hub for our operations across northern Scotland.
 
“This is a significant move for us in a strategically important area of the UK where we see great potential for further expansion.
  Aberdeen and northern Scotland have a strong tradition of entrepreneurial, internationally connected businesses which are increasingly shaped by the energy transition.
 
“We see this creating strong demand for the kind of sophisticated financial planning, private wealth and intergenerational advice which we specialise in.
  We’re looking forward to helping many more families and individuals in the region to make confident decisions to shape their financial futures.”
 
City Gate Aberdeen was founded September 2002 and provides clients with a wide range of financial planning, mortgage and protection services, managing more than £100m of assets.
 
Headed by Chartered Financial Planner & Fellow of the PFS Alan Johnston, City Gate Aberdeen first partnered with Fairstone in 2023 through the group’s unique Downstream Buy Out (DBO) programme.
 
Fairstone’s DBO model is designed to unlock the full potential of independent advisory firms by investing in their growth during a period of partnership, before fully acquiring the business.
 
City Gate Aberdeen’s partnership period has completed with the firm now becoming a full part of Fairstone.
 
Alan Johnston said: “We’re excited to become part of Fairstone and to have moved into the new hub office. This will give us improved technology infrastructure, enhanced meeting facilities and enable us to continue to offer our wider range of services to clients.
 
“Since we first partnered with Fairstone in September 2023 we’ve really benefited from having the additional support and backing that comes from a major national group. It has freed our team up to be able to spend more time with clients and to help further build the business.”
 
Albyn Associates was founded in 1998 and offers a wide range of financial planning and mortgage services, managing more than £80m of assets.  
 
Headed by independent financial advisers Colin MacLennan and Charlie Thomson, Albyn Associates signed up to the DBO programme in December 2023.
 
Colin explained: “We joined Fairstone to strengthen the support we can offer to clients. It’s enabled us to meet increasing regulatory, technology and governance requirements, while giving us access to colleagues who are specialists across all areas of financial planning.
 
“Our clients benefit from Fairstone’s whole‑of‑market relationships and national network and the group’s scale means clients can also access a wider range of products, often at more favourable investment terms. We’re really looking forward to working with our new colleagues and expanding the business across the region.”