Foster Denovo has announced the acquisition of Midlands-based IFA firm Brian Mole Independent Financial Advisers for an undisclosed sum.

Based in Burton-upon-Trent in Staffordshire, the firm has become part of the financial advisory group in a continued expansion in the Midlands, after the 80Twenty Consultancy, in Lockington, Leicestershire, was acquired in October.

This latest deal marks Foster Denovo’s sixth acquisition in 12 months and adds a 14th office to the firm’s UK business.

Advisers Kevin Douglas, Dean Woodward, Nigel Fern, David Hulland, Mark Hill, Nigel West, and Leighton Norton, alongside nine supporting staff, serving 1,300 clients with assets under advice of nearly £300m, will become part of Foster Denovo.

Over the past 12 months, Foster Denovo has bought Rosemount Asset Management in Glasgow to found a hub in Scotland, doubled the size of its employee benefits division with Punter Southall’s corporate advisory arm, and acquired wealth managers Wade Financial in Newcastle and Creative Financial Solutions in Hampshire.

Commenting on the latest acquisition, Foster Denovo CEO, Roger Brosch, said: “What struck me about Kevin and the team is that they genuinely care about one another, their clients, and the highest standards of advice.

“Add in a perfectly aligned culture between us all and you have the raw ingredients for a successful integration and a period of exciting growth. I am hugely excited to start working with everyone there and seeing what great things we can achieve together in the Midlands.”

Brian Mole Independent Financial Advisers executive director, Nigel Fern, stated: “This really works for our clients and our colleagues because Foster Denovo has a framework to retain what we do best – designing and delivering personalised financial advice, which we can now enhance and develop still further with the resources and support this deal gives us.

“It helps that we hit it off straight away and see the world in the same way as Roger and his colleagues, which has really energised everyone about what lies ahead.”

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