About East Devon Associates
East Devon Associates are based in Sidmouth, Devon. It offers professional independent financial advice for investments and ISAs, savings, pensions & annuities, life assurance, income protection, inheritance tax planning, and expert advice for individuals, charities and trustees. On April 27, 2020, East Devon Associates was acquired by Fairstone. Terms of the transaction were not disclosed.
Latest East Devon Associates News
Feb 22, 2022
22 Feb 2022 Lee Hartley Newcastle-headquartered wealth management house Fairstone has completed the acquisition of a financial advisory firm as it celebrates a trio of milestones. The company has purchased East Devon Associates under its downstream buyout (DBO) model, which integrates businesses into Fairstone prior to final acquisition. The acquisition is its third announced so far in 2022 and adds a combined total of £350m of client assets to the group. Founded in 2004, East Devon Associates bring five staff and 500 clients into the group and increase the firm's footprint in the South West. The pair first began their DBO relationship in 2020. Company principal Graham Salter said: "Working with Fairstone over the past two years has reassured us that we have made the right choice for ourselves, our staff and most importantly for our clients." The acquisition follows Fairstone celebrating ten years of dealmaking and securing its 50th acquisition, hitting £100m of revenues. Fairstone chief executive Lee Hartley said the company would further boost momentum achieved through organic growth, completed by more strategic acquisitions and reinforced by a strong pipeline of opportunities. He added: "We have now reached three very significant milestones which reflect our substantial growth in a very clear fashion. These are real indicators of maturity and are also important markers in our mission to establish ourselves as the leader in the whole-of-market wealth advisory space. "Our first acquisition ten years ago laid the foundations for our exceptional London business that has evolved from those origins. Thanks to the success of our unique downstream buy out (DBO) acquisition programme, we now enjoy a truly national footprint, delivering first-class service to clients countrywide." Fairstone now has 42 locations, 400 regulated advisers and 410 operational staff. It oversees £13bn in funds under management for 40,000 wealth clients. The group's growth strategy was further reinforced as a result of a transaction with global private equity house TA Associates last year. The investment formed the central aspect of a multiple financing boost for the firm, with private equity backers Synova also reinvesting into the group and funders Alcentra, the European arm of BNY Mellon, increasing the scale of the acquisition facilities available. TAGS
East Devon Associates Frequently Asked Questions (FAQ)
When was East Devon Associates founded?
East Devon Associates was founded in 2003.
Where is East Devon Associates's headquarters?
East Devon Associates's headquarters is located at 98-100 High St, Devon.
What is East Devon Associates's latest funding round?
East Devon Associates's latest funding round is Acquired.
Who are the investors of East Devon Associates?
Investors of East Devon Associates include Fairstone Group.