Financial advice firm Foster Denovo has made its second acquisition of the year after buying a part of London & Capital's UK wealth business.
London & Capital has £3bn of assets under management (AUM) but the amount acquired by Foster Denovo in the deal has not been disclosed. Two financial advisers will make the move across from London & Capital as part of the deal, while the servicing of the firm's clients' portfolios will also be transferred to Foster Denovo. The advice business said there would be not be any immediate change to clients' portfolios or their charges as a result of the acquisition. Foster Denovo CEO Roger Brosch said: "Having been engaged in extensive discussions with the London & Capital senior managem...
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