Fairstone has made changes to its organisational structure across its wealth advisory, training and central paraplanning functions.
According to the firm, the updated structure will bring the group’s national and partnership functions into a “unified advisory business” and is part of Fairstone’s aim to drive organic growth.
The change has resulted in six managing directors being appointed with three joining the northern, central and southern regions of the UK.
It has also been announced Fairstone’s chief commercial officer Adam Smith, has departed the group from today (April 30).
Following Smith’s departure, the group has appointed Nick Stebbing as chief operating officer, who will lead Fairstone Private Wealth.
Mike Slater will assume the role of managing director for the central region after seven years within the group.
Shona Lowe has joined Fairstone from Abrdn as managing director for the north, while chief operating officer at WHIreland Tony Hanlon joins as managing director for the south.
Lee Hartley, chief executive at Fairstone, said: “I would like to welcome Stebbing, and I would like to thank Smith for his contribution to Fairstone over the last five years and wish him well for the future.
“I am highly confident that alongside our already vastly experienced senior management team, the addition of Stebbing, Lowe and Hanlon will provide the transformative leadership to take the business forward over the next decade.”
The new structure has also created three roles dedicated to enriching client experience, adviser development and growth.
Steve Easter has been appointed as managing director of mortgage and protection, as Peter Donaldson transitions from managing director of the partnership to spearheading the growth function.
Donaldson will concentrate on adviser recruitment, retention and development in his new role.
Marguerite Peyton will become managing director for the group’s financial planning function and will oversee the advice journey, training and central paraplanning.
Hartley added: “The development of our organisational design signifies our commitment to delivering outstanding client outcomes, enhanced training and development for our advisers and ultimately a fitter, stronger business for the future.”
Back in January, Fairstone announced it was moving to a single charging structure with an ongoing advice fee of 80 basis points, as it looked to meet consumer duty requirements.
alina.khan@ft.com
