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Foster Denovo buys up Kent advice firm

Business-General-Handshake-Hire-Appointment-700x450.jpgNational advice firm Foster Denovo has acquired Kent-based adviser Orchard Wealth Cultivation for an undisclosed sum.

The group says the deal is the first in “a number of expected acquisitions for 2019”.

Orchard founders Mike and Sally Wiggins will now join Foster Denovo and continue servicing their existing client banks.

The agreement for the purchase was finalised on Monday.

Foster Denovo chief executive Roger Brosch says the group is now looking to make similar acquisitions as part of an accelerating growth strategy for the year.

The group is in discussions with several potential firms.

He says: “We are at an advanced stage of discussion with a number of firms and hope to have further exciting announcements soon.

“We are excited about the potential the [Orchard] acquisition brings and we will continue to look for similar opportunities to partner with firms who share our culture and belief in our client proposition.”

This follows news this week that Foster Denovo is also in the first stages of building an investment platform.

The group announced on Tuesday that it had partnered with London-based tech partner Host Capital and is expecting to debut the platform by the end of the year.



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