Ian Brady has today been announced as the next chief executive of financial planning firm Fairstone Ireland, succeeding the firm’s founder Paul Merriman in the top position.

Merriman, who established the advisory firm “askpaul.ie” in 2016 before it was acquired by UK-based Fairstone Group for an undisclosed sum in 2022, will now serve as its president.

Fairstone has acquired 20 independently owned wealth management and financial planning firms in Ireland within the last four years and now has over €4 billion in assets under management, the company said in a statement.

It employs approximately 240 people in Ireland, and provides advice on investment, inheritance, retirement, mortgages and wealth management to over 70,000 clients across the country.

Brady joins the firm from Unio, where he served as chief executive for two years before departing in February. He had previously worked as managing director of wealth management at the firm for one year.

After completing his business studies at University College Dublin, Brady joined Davy in 2004 and worked in the investment financial services company for 21 years, ultimately serving as its managing director.

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He described taking on his new role at Fairstone, which is subject to regulatory approval, as “a privilege”.

He said the group’s chief executive, Steven Cooper, “has set out a clear vision for Fairstone, an advice-led, client-outcome focused, whole-of-market wealth business, with the ambition to double by 2030 across the UK and Ireland”.

“Steven talks about clarity of purpose, integrity and stewardship, and that mirrors exactly the belief I’ve built my career on: we have no business without our clients. Everything begins and ends with them,” Brady continued.

Cooper, the chief executive of UK-based Fairstone Group, said the Irish arm of the business “has experienced significant expansion in recent years through the leadership of Paul; and a combination of strategic partnerships, organic growth and continued investment”.

Today’s appointment “reflects the company’s commitment to enhancing its leadership team as it pursues its long-term vision for the Irish market,” he added.

Merriman said Brady “is one of Ireland’s most respected leaders in financial advice and wealth management” and “is ideally placed to lead the organisation”.