Foster Denovo acquires Chartered IFA adding £220m AUA

Wade Financial brings six advisers and ten support staff

Jenna Brown
clock • 1 min read

Foster Denovo is to acquire Newcastle-based Chartered financial planning firm Wade Financial in a deal that brings £220m in assets under advice (AUA).

The deal, which is subject to regulatory approval, sees six advisers and ten support staff join Foster Denovo. It added the acquisition would create a regional hub to "facilitate further expansion" in the North East. The buyout follows Foster Denovo's £100m backing by Crestline Investors in February 2022. Since the investment, it said it had completed ten internal practice buy outs for 18 advisers, which have "contributed to a tripling of the group's EBITDA".  Chief executive Roger Brosch said: "We look forward to welcoming Stephen, Ian, David and the whole Wade team to Foster Deno...

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