Foster Denovo has made its latest acquisition in the East Midlands with the purchase of 80Twenty, based in Lockington in Leicestershire.
Foster Denovo has completed its fifth acquisition within a year, bringing 80Twenty into its network as the 13th office and the first in the East Midlands.
The acquisition expands Foster Denovo’s footprint with over half a billion in assets under management and influence from 80Twenty’s individual and corporate clients by adding four advisers—Neil Welbury, Jackie Worby, David Catterall, and Stuart Annable—as well as six support workers.
This most recent acquisition comes after the company entered Scotland last month when it acquired Rosemount Asset Management in Glasgow. Prior purchases include wealth managers Wade Financial in Newcastle and Creative Financial Solutions in Hampshire, as well as Punter Southall’s corporate advising firm, which greatly expanded Foster Denovo’s employee benefits sector.
Foster Denovo chief executive Roger Brosch says: “We’re delighted to welcome Neil, Jackie, David and their fabulous team to Foster Denovo. As we’ve got to know each other over the course of this transaction, it’s clear we share an excitement for what a combined future holds.
“Cultural and propositional fit is critical for us and we know the 80Twenty team shares our values and sees the world as we do. We look forward to prospering together as we grow.”
80Twenty executive director Neil Welbury says: “80Twenty advises high net worth, financially astute individuals, so any chosen partner had to be able to add value to that dynamic. We are also retained by a number of large corporate clients, and so understanding how that advice process works was also key.
“Foster Denovo have built a reputation in both marketplaces, and so we see them as a natural home for our clients. Also, with the added support and additional services available at Foster Denovo, this will only serve to enhance our proposition further.”