Foster Denovo acquires Newcastle-based financial planning firm

Foster Denovo has expanded its presence in the north east of England with the acquisition of Newcastle-based financial planning firm Shaun Carr Financial Services.

The UK-wide advisory group has added Shaun Carr Financial Services to its wealth management division for an undisclosed sum.

Sean Carr will remain with the company as a senior partner, bringing £53m in assets under advice across 157 clients with him.

He cited the positive experience of the advisers from what was formerly Wade Financial in Newcastle, which Foster Denovo acquired in 2023, as a key motivator behind the decision.

“I know the guys at what was Wade and they were able to share their very positive experience of what it meant to become part of Foster Denovo,” Carr stated.

“This kind of insight is really valuable from people who have gone down the same road you’re considering.

“We all know regulation has increased and the depth and scale of the support team I can now call on frees me to focus on giving my clients an even better service, also a big factor in my decision.”

The deal marks Foster Denovo’s first acquisition in 2026 and comes as the number of internal practice buyouts has reached 26.

Foster Denovo, which also has an employee benefits consulting division, Secondsight, now has 13 offices across the UK.

Foster Denovo chief executive officer, Roger Brosch, commented: “The people in the businesses which become part of Foster Denovo - the ones who place their trust in you to do right by them, their colleagues, and, most importantly, their clients – are proof of what we are creating.

“That word of mouth endorsement of our approach, in placing cultural fit above all else, really hits home.

“We’re delighted Shaun has joined us and look forward to welcoming more advisers into the fold this year.”

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