Chartered Financial Planning group Fairstone has announced it will join forces with two more firms.

Fairstone confirmed that Octagon Wealth Management and UskVale Financial Planning are to work closely with Fairstone in future, bringing a total of 17 new advisers and support staff to the wider business. Octagon will become part of the group while Fairstone and UskVale have entered into an agreement to work together.

These deals come after the announcement in March that Fairstone had brought three advisory firms into their buy-out programme – Campbell Harrison, Mortgage Find and Pensions & Wealth Management Services, with combined revenues of £3.25m.

Fairstone Group CEO Lee Hartley said: “Since launching in 2008 Fairstone has looked to establish itself as a significant force within the sector. Our national presence is continuing to grow as our portfolio of advisory businesses expands.

“We have never looked to acquire businesses who want to stand still; it is crucial that the firms that we partner with are high quality and share both our values and aspirations for the future. That means firms who embrace technology and who expect their clients to not be treated like a commodity.”

Octagon Wealth Management joint company principals Jon Routledge and Richard Hollington said that providing a “fully independent ongoing service to our clients is of paramount importance to us”.

They said in a statement: “As we grow, being part of the Fairstone Group will enable us to continue to offer our clients the service levels and support that we are so proud of, as well as the peace of mind that as part of the Fairstone Group, we have access to in-house specialist advisers in almost every field.”

South Wales-based investment and retirement planning specialists UskVale Financial Planning is to work closely with Fairstone in future. It has 800 clients and £100m assets under management.

Company principal Paul Pelopida said: “We recognised the benefits of becoming part of a leading national IFA. The support we will receive from Fairstone will allow us to concentrate on business development and client relationships whilst Fairstone oversees and manages the compliance and regulatory requirements.

“Fairstone wants businesses with an appetite to grow and combined with our long-standing relationships we will marry well into Fairstone’s customer-centric philosophy.”

Mr Hartley said: “Fairstone has ambitious targets for growth but also for business quality. The addition of two companies of such calibre is an extremely welcome addition that will benefit both Fairstone and most importantly, our combined clients. Our aim is always to offer the very best whole-of-market choice and independent advice.

"It is my belief that UskVale Financial Planning and Octagon Wealth Management will help us to deliver on these objectives. We have spent considerable time in consultation with both businesses and look forward to helping them realise their full potential.”

• Update 10.07.17: In the first version of this story, it was stated that Fairstone had acquired two adviser firms. We've been asked to make clear that in fact, while Fairstone has entered into an agreement which may lead to the buyout of Octagon, UskVale has only signed an agreement to 'make best use of the services' of Fairstone but there is no intention at this stage for Fairstone to buy UskVale. The deal will mean the two firms working closely together but no acquisition will take place.