Lee Hartley, founder of expanding Financial Planner and wealth manager Fairstone, has stepped down from the board and from his position as deputy chair.

He had only held the position since October, after resigning as chief executive earlier in the year.

Mr Hartley launched the North-East-based national wealth advisory firm in 2008.

The business, based on Chartered Financial Planning, has expanded rapidly over the past nearly two decades, making more than 100 acquisitions of financial advisory firms.

When stepping down as CEO Mr Hartley said: “I’m immensely proud to have built Fairstone from an initial concept through to our position today.”

He leaves Fairstone after launching a new venture capital business Castrius Capital Partners in December. The firm is a 'venture accelerator' supporting the launch, growth and scale-up of innovative private organisations who are headquartered in the North East.

Mr Hartley said: “We’ve set ourselves a fairly major target, bringing £10bn of funding capacity to the region over the next 10 years to massively boost growth and create a significant increase in aspiration, ambition and prosperity across the businesses we partner with.”

David Hickey, Fairstone chairman, said: “I have known and worked with Lee for almost a decade.

“He is the most impressive business founder I have ever worked with, and the scale and continuing success of Fairstone is a lasting tribute to his abilities as a businessman and leader. I have no doubt his new business in the venture capital sector will be equally successful in the years to come.

“In the meantime, and on behalf of all Fairstone stakeholders, I would like to thank him for his enormous contribution to making Fairstone one of the largest and most trusted wealth managers in the UK and Ireland, and I wish him every success in the future.

“As a business, Fairstone continues to go from strength to strength. We have an excellent CEO in the form of Steven Cooper, a highly experienced and motivated senior management team and exciting plans for further expansion in 2026 and the years beyond.”

In August 2024 the firm appointed former Abrdn MD Russell Bignall as its new group managing director.

In June 2024 Fairstone appointed Nick Stebbing as chief operating officer as part of plans to enhance its investment management business and broaden the range of services it offers clients and advisers.

In April 2024 it appointed six new managing directors as it changed its organisational structure.

Fairstone has fee income of more than £175m annually and operates from more than 56 locations with a head office in Sunderland and a City office in London. It has financial management, private wealth, corporate solutions, mortgage solutions and estate planning channels.

The firm employs more than 1,250 staff and regulated advisers and oversees £20bn in funds under management for more than 65,000 wealth management clients.

It has an objective of reaching £40bn in client assets by the end of 2030.