Financial Planner Foster Denovo has made its first acquisition of 2026 by expanding its North East footprint with the acquisition of a £53m AUM/A financial adviser firm.
The company has added Shaun Carr Financial Services, for an undisclosed sum, to its wealth management division, expanding its Tyneside hub.
Mr Carr will be a senior partner bringing with him £53m in assets under advice for 157 households. He will be based in North Shields, Foster Denovo says.
He says the positive experience of advisers working at what was formerly Wade Financial in Newcastle, who joined Foster Denovo in 2023, was key in persuading him to join Foster Denovo.
Mr Carr said: “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. 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.”
Foster Denovo CEO Roger Brosch said: “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”
Foster Denovo says this latest deal means it has now completed 26 internal practice 'buy-outs'. Foster Denovo also includes employee benefits consulting division, Secondsight, which now has 13 offices across the UK.
The group is currently embarked on a technology project, called Symphony, to embed agentic AI across its day-to-day operations, freeing teams to spend more time with clients.
Foster Denovo advice areas include Financial Planning, wealth management, retirement solutions, at retirement advice, estate planning, mortgages and protection.