Fairstone said there was growth in every one of its key areas, including client numbers, advisers, recurring income, gross margin, profits and FUM.

It said there was a client attrition rate of just 2.4%, with repeat advice levels of 94% and a client satisfaction score of 98%.

The attrition rate number includes clients who have passed away or exited as a function of divorce. Fairstone said removing those factors from the analysis showed a pre- and post-acquisition client retention rate close to 100%.

Fairstone used its latest annual report to announce a new mission statement: “To be the most trusted wealth management firm in the UK and Ireland.” It’s backed its ambition with an updated ten-point strategy, the culmination of an eight-month plan to lay the foundations for significant future expansion.

It includes a move to a new head office, once the HQ of Nike UK, in Sunderland’s Doxford International Business Park, and is strengthened by a series of additions to the executive, IT, M&A and compliance teams, together with investments in client and adviser platform technology.

Chief executive Lee Hartley said: “We have invested an additional £4.1m in our resource base to ensure that we have the people to underpin the progress.”

He added: “Results of this type simply cannot be achieved unless you are consistently delivering great outcomes for clients – and that’s why all of our colleagues need to be congratulated for the superb work they continue to do.”

Fairstone chairman David Hickey said: “2022 was a turbulent time for financial markets however, Fairstone continued to thrive, growing client numbers, advisers, revenues and EBITDA respectively, showing significant growth in every aspect of the group’s activities. This has created substantial forward motion which has been carried into 2023.”

The company has been busy making a number of acquisitions this year. Last week it announced plans to acquire £120m AUM Kings Lynn-based Chartered Financial Planning firm Allen Tomas & Co. Earlier in November it acquired South West-based Station Financial IFA and County Durham-based Advanced Financial Services, adding £380m AUM.

In July it acquired £1.5bn AUM Midlands wealth manager Prosperity Wealth while in May it acquired £450m FUM Essex-based IFA Sacre Associates. In March it acquired £200m FUM Lincolnshire Chartered Planner firm MT Financial Management.

Its first deal of the year was acquiring £450m FUM Surrey Financial Planner Mantle Financial Planning in February.

Fairstone oversees £15bn in funds under management on behalf of more than 55,000 wealth management clients.