Foster Denovo has bought Hampshire-based Creative Financial Solutions as it looks to increase its presence in the south east.
The adviser team at Creative Financial Solutions, set up by Duncan Sherlock in 2000 and joined in 2006 by Simon John, advises on £110mn of assets on behalf of 245 family units.
Sherlock said: “Our client focused approach and shared culture of prioritising people, has found a perfect home with Foster Denovo.
“This exciting new chapter will enable us to further enhance the value we bring to our clients while continuing to uphold the values and culture that have been the cornerstone of our success. Together, we are looking forward to creating even greater opportunities for our clients and our talented team.”
In September, Foster Denovo reached a deal to buy Newcastle chartered financial planning firm Wade Financial. Both deals are subject to FCA approval.
In February 2022, Foster Denovo secured up to £100mn funding from minority stakeholder Crestline Investors for a five-year growth strategy.
Since then, it has completed 10 internal practice buy outs for 18 advisers.
Roger Brosch, chief executive of Foster Denovo, said: “Duncan and Simon have built a great business and a loyal client base. Both bear testimony to their clear client focus. Culturally, and propositionally, this is a perfect fit for both businesses.
“I look forward to us joining forces to continue offering Creative Financial Solutions’ clients the very best service and advice.”
amy.austin@ft.com
