A Chartered Financial Planner’s firm has been fully acquired by a national Financial Planning group.

Staffordshire-based Angela Murfitt Financial has been taken over by Fairstone Group under the firm’s downstream buyout model. There are currently 22 adviser firms under this type of arrangement with Fairstone.

This involves Fairstone taking an initial minority stake in an IFA business and integrating the firm over a number of years. No fee has been disclosed in today’s announcement.

Angela Murfitt, who used to work for Informed Choice in Surrey, first partnered with Fairstone four years ago, since when revenues have grown by 80% with funds under management currently standing at £30 million, the company reported.

Ms Murfitt, who is also a Certified Financial Planner and a Chartered Member of the CISI,  specialises in investment, pensions and IHT planning.

She said: “We are extremely proud to be joining Fairstone. By fully integrating into the Fairstone Group, a sustainable and exciting future for our independent advice proposition is assured. In partnering with Fairstone, we have been able to deliver a modern and comprehensive client-centred proposition.”

Lee Hartley, chief executive of Fairstone Group, said: “With a focus on providing clear and reliable retirement planning and investment advice, Angela Murfitt Financial is an excellent example of the type of company Fairstone is looking to partner with.

“As a Chartered Financial Planner, Angela takes the time to get to know her clients and works with them to create, protect and preserve their wealth and achieve their life goals.”

Since entering the agreement with Fairstone, Angela has served as a member of Fairstone’s board of Chartered Financial Planners which provides technical leadership to the group and guides the company’s drive in ongoing professional development to ensure that 50% of Fairstone’s advisers are qualified to level 6.