Foster Denovo has bought a Kent-based financial planning firm as the first of several acquisitions planned for this year.
The national advice firm completed the acquisition of Orchard Wealth Cultivation earlier this week for an undisclosed sum, with the firm’s clients to be incorporated into Foster Denovo.
Orchard was founded in 2005 by Mike Wiggins and Sally Wiggins both of whom will join Foster Denovo as employees, the former as a senior partner.
Roger Brosch, chief executive at Foster Denovo, said: "Having really got to know Mike and Sally over the last few months, it is clear that they have built a first class financial management, planning and advice service, and maintaining exceptionally strong relationships with their clients is core to everything they do.
"We are delighted they are joining our journey and it is obvious that we will be an ideal home for them and their clients."
Mr Brosch said Foster Denovo is looking for more opportunities to partner with firms who "share its culture".
He said: "We are at an advanced stage of discussion with a number of firms and hope to have further exciting announcements soon."
Mike Wiggins, director at Orchard Wealth Cultivation, said: "A significant effort has been made over the last three years to find the right partner to help us grow, whilst retaining the close working relationships and values that remain so important to us.
"We believe we have found that in Foster Denovo. Roger and the team share our culture and values and together I feel we can build an even stronger proposition for our clients."
rachel.addison@ft.com
