Financial advisory firm Foster Denovo has acquired Hampshire-based IFA Creative Financial Solutions for an undisclosed sum, subject to FCA approval.
Creative Financial Solutions, set up by Duncan Sherlock and Simon John, advises on £110m ($126m, $135m) of assets.
Chief executive of Foster Denovo Roger Brosch, 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.”
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Sherlock added: “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.”
This is Foster’s Denovo’s second acquisition after it snapped up financial planning firm Wade Financial this September.
In February 2022 the firm secured up to £100m funding from minority stakeholder Crestline Investors for a five-year growth strategy.
Since then, Foster Denovo has completed 10 internal Practice Buy Outs (PBOs) for 18 advisers.