4th December 2024
Foster Denovo has expanded its presence in the Midlands by acquiring Brian Mole Independent Financial Advisers, based in Burton-upon-Trent, Staffordshire. This acquisition marks the national firm's sixth in the past 12 months and adds a 14th office to its network, enhancing its footprint across the UK. The deal brings a team of seven advisers: Kevin Douglas, Dean Woodward, Nigel Fern, David Hulland, Mark Hill, Nigel West, Leighton Norton, and nine support staff, who serve 1,300 clients with assets under advice nearing £300m.
This acquisition follows Foster Denovo's purchase of 80Twenty Consultancy in October and aligns with the group’s five-year growth strategy. Recent acquisitions, including Rosemount Asset Management in Glasgow, Wade Financial in Newcastle, and Creative Financial Solutions in Hampshire, reflect the company's ambition to build regional hubs and enhance its advisory capabilities nationwide.
CEO Roger Brosch emphasised the importance of culture and client care in this growth strategy, stating, “What struck me about Kevin [Douglas] and the team is that they genuinely care about one another, their clients, and maintaining the highest standards of advice. With a perfectly aligned culture, we have the essential ingredients for successful integration and exciting growth.”
Nigel Fern of Brian Mole pointed out the deal's benefits for clients and the team: “Foster Denovo provides a framework that allows us to retain our strengths in designing and delivering personalised financial advice while enhancing and developing our services with their resources and support.”
Additionally, the group has doubled the size of its employee benefits division by acquiring Punter Southall's corporate advisory arm and strengthened its leadership team by appointing Paul O’Leary as Chief Finance Officer. Foster Denovo's commitment to excellence has been recognised with the Investors in People (IIP) platinum accreditation, the highest level achievable, showcasing the group’s focus on developing its people.
This acquisition highlights the ongoing consolidation trend in the financial advice sector, as firms increasingly aim to expand their regional presence, enhance their operations, and deepen their expertise while maintaining client-centred services at the core of their strategy.
At Chapters Capital, we specialise in financial planning and wealth management M&A, helping firms navigate transitions and explore growth opportunities. Whether you are considering a sale, merger, or expansion, our tailored approach ensures you receive expert guidance at every step. Contact one of our professional associates today for a confidential, no-obligation consultation.