29th October 2024
Foster Denovo, a leading financial advisory group, has announced its acquisition of 80Twenty, a Leicestershire-based advisory firm serving private and corporate clients. This is Foster Denovo’s fifth acquisition in the past year, marking a significant milestone. The acquisition adds a new office in the East Midlands and increases its UK presence to 13 locations nationwide.
The acquisition includes four experienced advisers—Neil Welbury, Jackie Worby, David Catterall, and Stuart Annable—and six support staff. This expansion enhances Foster Denovo's ability to serve high-net-worth individuals and corporate clients. With approximately 120 private clients and a selection of prestigious corporate accounts, 80Twenty brings over half a billion in funds under management, which complements Foster Denovo’s existing client base.
Roger Brosch, CEO of Foster Denovo, highlighted the alignment of values and vision between the two firms. "We’re delighted to welcome Neil, Jackie, David, and their team to Foster Denovo,” he stated. "Cultural and propositional fit is critical for us, and we know that the 80Twenty team shares our values and commitment to high-quality client service."
This strategic acquisition follows recent additions such as Rosemount Asset Management in Glasgow and Wade Financial in Newcastle, underscoring Foster Denovo’s dedication to growth and enhanced client offerings. The firm has also received the prestigious Investors in People (IIP) Platinum accreditation, achieved by only two per cent of applicants globally, recognising its excellence in people development.
Foster Denovo's acquisition of 80Twenty demonstrates its commitment to expanding and partnering with firms that share its values, ultimately improving client services throughout the UK. This addition enhances Foster Denovo's reach and capabilities, contributing to the ongoing consolidation trend in the wealth management sector.
At Chapters Capital, we specialise in financial planning and wealth management M&A. We provide expert guidance in aligning acquisitions with strategic goals, supporting smooth transitions, and maximising value. If you are considering a sale or exploring growth opportunities, contact our experienced associates today for a confidential, no-obligation consultation.