Foster Denovo snaps up North Shields IFA in first deal of 2026
- Simon Bourke
- 2 days ago
- 2 min read
5th August 2026
Deal summary
Foster Denovo has acquired Shaun Carr Financial Services, an independent financial planning firm based in North Shields, strengthening its wealth management presence in North East England.
Shaun Carr Financial Services brings £53 million in assets under advice across 157 client households. Founder Shaun Carr will join Foster Denovo as a senior partner and remain based in North Shields.
The firm will become part of Foster Denovo’s Tyneside hub, which was established following the acquisition of Newcastle-based Wade Financial Services in 2023.
About Foster Denovo
Foster Denovo is a national financial advisory group offering wealth management, financial planning, retirement planning, estate planning, mortgages and protection, alongside employee benefits consultancy through its Secondsight division.
The group has been backed by US investment firm Crestline Investors since February 2022, when Crestline took a minority stake and provided up to £100m to support Foster Denovo’s acquisition and growth strategy.
Foster Denovo advises on approximately £3.7bn of assets and operates from 13 offices across the UK. It has completed multiple external acquisitions alongside 26 internal practice buy-outs, while group EBITDA increased by £7.8m to £9.4m over the three years to the end of 2024.
About Shaun Carr Financial Services
Shaun Carr Financial Services is a North Shields-based independent financial planning firm founded and led by Shaun Carr. Its advice is focused principally on investment and retirement planning. The firm advises 157 client households with £53 million in assets under advice.
What happens next?
Shaun Carr has joined Foster Denovo as a senior partner and will continue to advise his clients from North Shields. No further integration timetable or operational changes have been disclosed.
Foster Denovo's other recent acquisitions
Verum Wealth – January 2025
Foster Denovo acquired Glasgow-based Verum Wealth, adding £87 million in assets under advice to its Scottish hub. Founder Tony McPhee became an employed partner, with the firm’s wider team also joining Foster Denovo.
Brian Mole Independent Financial Advisers – December 2024
The acquisition of Burton-upon-Trent-based Brian Mole brought seven advisers, nine support staff, approximately 1,300 clients and close to £300 million in assets under advice into Foster Denovo.
80Twenty Consultancy – October 2024
Foster Denovo acquired 80Twenty in Lockington, Leicestershire, establishing its first East Midlands office. The transaction included four advisers, six support staff, around 120 private clients and several corporate clients, with more than £500 million in funds under management and influence.
Considering your next chapter?
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For a confidential conversation about valuation, buyer fit or your route to market, contact our team.
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