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...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Consolidation: Does big equal bad in the advice sector?

Consolidation: Does big equal bad in the advice sector?

'Integrations take time and effort on all sides'

Anthony Carty
clock 17 September 2025 • 4 min read
WIFA 2025 headline sponsor video: LV's Katherine Carnegie on inclusive leadership

WIFA 2025 headline sponsor video: LV's Katherine Carnegie on inclusive leadership

‘Creating a culture where everyone thrives’

Professional Adviser
clock 17 September 2025 • 1 min read
Fintel simplifies model into two divisions as it stresses cultural fit in acquisitions

Fintel simplifies model into two divisions as it stresses cultural fit in acquisitions

The group moves from three divisions to two

Sahar Nazir
clock 16 September 2025 • 2 min read