The parents company of national advisory business Foster Denovo has completed seven internal practice acquisitions.
The deals - announced today (30 March) - bring £800m in assets under advice to Foster Denovo Group and follow its securing of £100m in funding 13 months ago.
The agreement with Crestline Investors saw it take a minority stake in Foster Denovo Group last February.
The seven deals completed since were achieved through practice buyouts (PBOs) across both the group's private client and corporate businesses.
More than 70 advisers are now employed by the group while Crestline's investment will also be behind an external acquisition drive for Foster Denovo over the next five years.
"Alongside external acquisitions, we see PBOs both as a great option to offer to practice owners as a way to future-proof their business, and to continue to grow Foster Denovo through the addition of likeminded and culturally compatible people who are looking for a PBO underpin further down the line," said director of corporate development Henna Fry.
"Our role is to facilitate a smooth transition for those wanting to access a centralised, market leading proposition, giving advisers the tools and resources needed to best serve their clients and to enhance their practice value."
