Fairstone completes acquisition of Prosperity Wealth after DBO partnership
- Simon Bourke
- 4 days ago
- 4 min read
10th March 2026
Deal summary
Fairstone has acquired Prosperity Wealth, an independent financial planning firm in the West Midlands, in Fairstone’s largest acquisition to date. Financial terms were not disclosed. Reported deal metrics indicate that Prosperity Wealth adds around £1.5bn of client assets, more than 5,000 clients, 80 staff and 49 advisers to the wider group. The deal follows a two-and-a-half-year partnership between the two firms, which began in July 2023 when Prosperity Wealth entered Fairstone's Downstream Buy Out (DBO) programme.
About Fairstone
Fairstone is a UK and Ireland wealth management and financial planning group headquartered in Sunderland. In recent reporting, the group said it operates from more than 50 locations, employs more than 1,250 people, serves over 60,000 wealth clients and is targeting £40bn of client assets under management by the end of 2030.
Its acquisition strategy is centred on its DBO model, under which firms join Fairstone first, receive investment and operational support during a partnership period, and are then fully acquired later. Fairstone refined that model in April 2025 to place greater emphasis on higher-growth firms, and in June 2025 said Richardson Premier Wealth had become its 100th DBO partner.
About Prosperity Wealth
Prosperity Wealth was founded in 2010 and is led by independent financial adviser Matt Bell. The firm specialises in wealth management, cashflow planning, corporate financial planning and employee benefits advice. It employs 80 staff, including 49 advisers, and serves more than 5,000 clients across the UK, with the majority based in the West Midlands. At £1.5bn in client AUM, it is a sizeable regional practice with a particular specialism in corporate financial planning.
Why is Fairstone acquiring Prosperity Wealth?
Prosperity Wealth's Brierley Hill base will become Fairstone's West Midlands hub, fitting a broader strategy of building regional operational centres that replicate head office functions at a local level.
Russell Bignall, Fairstone's chief financial planning officer, noted Prosperity Wealth's specialism in corporate financial planning as a particular point of interest, while Mike Slater, managing director for the central region, pointed to the West Midlands' rate of new business and its concentration of business owners and senior professionals as reasons the region sits within the group's expansion plans.
The DBO structure means that by the time full acquisition completes, both parties have already spent several years working together, as was the case with Fairstone's January 2025 acquisition of Imagine Financial Planning, which had entered the programme in 2021.
What happens next?
Prosperity Wealth's Brierley Hill offices will operate as Fairstone's West Midlands hub, joining ten other hubs across the UK and Ireland. Each hub is intended to deliver a full range of operational services at a regional level. Matt Bell will remain as head of office. Fairstone has indicated it is actively seeking further DBO partners in the West Midlands and nationally.
What this deal means for IFA owners considering a sale?
For firm owners considering a sale, this deal is a straightforward example of the DBO model completing as intended. Demographic pressure continues to drive consolidation activity across the sector, and Fairstone is one of several well-capitalised platforms actively seeking partners. The terms on which any sale proceeds, including valuation basis, earn-out structure and operational autonomy post-completion, vary considerably between acquirers. Chapters Capital advises IFA and financial planning firm owners on exactly these decisions; if you are considering a sale or partnership, we would be happy to talk through your options.
Fairstone's other recent acquisitions
Imagine Financial Planning — January 2025
Fairstone completed the full acquisition of Harrogate-based Imagine Financial Planning in January 2025, having first entered a DBO partnership with the firm in 2021. The deal brought Fairstone's funds under management to more than £17 billion at the time of completion.
Forbes Lawson Wealth Management — October 2024
Aberdeen-based Forbes Lawson Wealth Management, which had entered the DBO programme in 2021, was fully acquired by Fairstone in October 2024, strengthening the group's presence in Scotland. The firm specialised in pension planning and investment management.
Grayside Financial Services and Executive Wealth Management — August 2024
Fairstone acquired Surrey-based Grayside Financial Services and Swindon-based Executive Wealth Management in a double deal completed in August 2024, bringing across approximately 1,250 clients and adding £318m in assets under management.
FAQs
What is Fairstone's Downstream Buy Out (DBO) programme?
The DBO programme is Fairstone's proprietary acquisition model. An IFA firm enters a partnership with Fairstone, during which Fairstone typically takes a minority equity stake and provides infrastructure, compliance and growth support. At the end of the partnership period — typically two to three years — Fairstone acquires the remaining equity at a pre-agreed multiple of profit. The model is designed to maximise business value before the final sale completes.
How big is Prosperity Wealth?
Prosperity Wealth has £1.5bn in assets under management, 49 advisers, 80 staff in total, and more than 5,000 clients, the majority based in the West Midlands.
When did Prosperity Wealth first partner with Fairstone?
Prosperity Wealth entered Fairstone's DBO programme in July 2023. The full acquisition was announced in March 2026 following the completion of the partnership phase.
Is Fairstone looking for more acquisitions in the West Midlands?
Yes. Fairstone has stated it is actively seeking further DBO partners in the West Midlands and across the UK and Ireland as part of its aim to reach £40bn in client AUM by the end of 2030.
Considering your next chapter?
At Chapters Capital, we specialise in financial planning and wealth management M&A.
Whether you are considering a sale, merger, or want to learn more about buyers in the space, please contact one of our professional associates today for a confidential, no-obligation consultation.
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