Foster Denovo has acquired Brian Mole Independent Financial Advisers for an undisclosed sum as it expands across the Midlands.
Based in Burton-upon-Trent, Staffordshire, the practice becomes part of the financial advisory group after the 80Twenty Consultancy, in Lockington, Leicestershire, came on board in October.
This latest deal marks the national firm’s sixth acquisition in 12 months and adds a 14th office as it continues to establish its UK footprint with teams across the Midlands.
As a result of this acquisition the firm’s seven advisers, along with nine support staff will join Foster Denovo, Foster which now supports 1,300 clients with assets under advice approaching £300 million.
Over the last 12 months, Foster Denovo has bought Rosemount Asset Management in Glasgow to found a hub in Scotland, doubled the size of its employee benefits division with Punter Southall’s corporate advisory arm, and acquired wealth managers Wade Financial in Newcastle and Creative Financial Solutions in Hampshire.
As the group accelerates its five-year growth strategy, it has also created the new position of Chief Finance Officer and recruited Paul O’Leary earlier this month.
Foster Denovo CEO Roger Brosch says that there was a “perfectly aligned culture” between the group and this new acquisition.
Meanwhile Nigel Fern of Brian Mole adds: :“This really works for our clients and our colleagues because Foster Denovo has a framework to retain what we do best – designing and delivering personalised financial advice, which we can now enhance and develop further with the resources and support this deal gives us.”
