Foster Denovo acquires Chartered IFA adding £220m 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...