Foster Denovo has acquired Brian Mole Independent Financial Advisers as it expands across the UK’s Midlands region.
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.
It means advisers; Kevin Douglas, Dean Woodward, Nigel Fern, David Hulland, Mark Hill, Nigel West, Leighton Norton, together with nine support staff serving 1,300 clients with assets under advice approaching £300 million, become part of the growing financial advisory group.
Roger Brosch, CEO of Foster Denovo, said: “What struck me about Kevin and the team is that they genuinely care about one another, their clients, and the highest standards of advice.
“Add in a perfectly aligned culture between us all and you have the raw ingredients for a successful integration and a period of exciting growth. I am hugely excited to start working with everyone there and seeing what great things we can achieve together in the Midlands.”
Nigel Fern of Brian Mole said: “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 still further with the resources and support this deal gives us.
“It helps that we hit it off straight away and see the world in the same way as Roger and his colleagues, which has really energised everyone about what lies ahead.”
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 has also been recognised for its excellence in developing its employees by achieving the Investors in People (IIP) platinum accreditation, its highest level.
