Financial advisory group Foster Denovo has made its latest acquisition in the East Midlands of the UK with the purchase of 80Twenty, based in Lockington in Leicestershire.
80Twenty marks Foster Denovo’s fifth acquisition in 12 months, becoming the 13th office in its UK-wide presence and the first in the East Midlands. This expansion demonstrates the firm’s commitment to providing high quality advice nationwide across the UK.
The deal means four advisers – Neil Welbury, Jackie Worby, David Catterall and Stuart Annable, along with six support staff – become part of Foster Denovo. With around 120 private clients and a number of high-profile corporate clients, 80Twenty brings in well over half a billion of funds under management and funds under influence.
Foster Denovo chief executive Roger Brosch said: “We’re delighted to welcome Neil, Jackie, David and their fabulous team to Foster Denovo. As we’ve got to know each other throughout 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 said: “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.”
The latest deal comes just a month after the firm bought Rosemount Asset Management in Glasgow to establish an office in Scotland. Previously, the group doubled the size of its employee benefits division, buying Punter Southall’s corporate advisory arm, preceded by the acquisition of wealth managers Wade Financial in Newcastle and Creative Financial Solutions in Hampshire.
Foster Denovo has been recognised for its excellence in developing its employees by being awarded the Investors in People (IIP) platinum accreditation, its highest level achieved by only two per cent of companies who apply worldwide.
