UK financial planning firm Foster Denovo has partnered with industry recruitment specialists Recruit UK in a bid to carry out its financial adviser growth strategy.
The partnership comes a few months after it bought the UK wealth arm of London & Capital.
Recruit UK said in a statement that the financial planning firm is reaching out to individual IFAs as well as firms looking for a long-term exit strategy, which mimics plans of rivals AFH and Fairstone Group.
International Adviser recently spoke to the strategy and acquisitions director at Quilter Private Client Advisers (PCA), Dominic Rose, about why advisers are looking to exit the market.
Market consolidation
Roger Brosch, chief executive of Foster Denovo, said: “We have partnered with Recruit UK as part of our overall growth strategy, which has already seen us make significant moves as a ‘facilitator’ in the market.
“To us, this means offering a compelling option for businesses who put the interests of clients and staff at the forefront of everything they do.
“We offer an attractive proposition to advisers and our relationship with Recruit UK will see us continue to find and invest in high quality advisers.
“This partnership sees Recruit UK take an in depth look at our business, and identify advisers which share our values and work ethos.”
Recruit UK also works with 2 Plan Wealth Management, Rowan Dartington, Fairstone, AFH, Bartholomew Hawkins, Beaufort Financial, Prudential, Tilney and Sanlam.
