Wealth Manager - the site for professional investment managers

WM - Wealth Manager
Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Foster Denovo buys London & Capital's UK wealth arm

Foster Denovo has acquired London & Capital's UK wealth business.

Foster Denovo buys London & Capital's UK wealth arm

Foster Denovo has acquired London & Capital's UK wealth business. 

London & Capital, which is based in Fitzrovia and has £3 billion in assets under management, offers a range of wealth and asset management services to private and institutional clients.  

The value of the transaction, or the amount of assets held by the wealth arm was not disclosed. 

London & Capital clients will continue to be serviced by two of the firm's advisers, who will move across as part of the deal. 

Foster Denovo chief executive Roger Brosch (pictured) said: 'Having been engaged in extensive discussions with the London & Capital senior management team for some time, I am confident that we share the same values and believe their clients and the relationship team will be a natural cultural fit.

'Our passion for client service is similarly held by London & Capital, and our award winning proposition will enable advisers to offer a broader range of services to ensure their clients’ achieve all their financial goals.'

London & Capital chief operating officer Guy McGlashan added: 'In recent years we have taken deliberate steps to focus our business more keenly on our core strengths – particularly across more international specialist segments in the private client market and our distinct institutional business.

'Transferring our UK wealth clients to Foster Denovo is the next step in this strategy and we strongly believe that Foster Denovo will continue to provide our UK wealth clients with an excellent service and provide a good home for them and the advisers transferring with them.' 

The move follows Foster Denovo’s acquisition of Kent firm Orchard Wealth Cultivation in February.

Brosch indicated there could be more deals on the cards.  

'Our growth strategy is clear, we are well positioned for further deals and intend to be a "facilitator" in the market, able to offer a compelling option for businesses who put the interests of clients and staff high on their list of deal priorities,' he said. 

Share this story

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Share this story

dot
dot
dot

Top stories

Read More
dot