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Advice sector will ‘open up’ in 2014

Foster Denovo says it is currently finding few suitable acquisition targets, in part because valuations are high.

Like many advisory firms, Foster Denovo is seeking to expand in the post-Retail Distribution Review world and as such is talking to a number of potential acquisition targets.

Despite “looking constantly”, however, it is not doing much in the way of buying. Foster Denovo’s chief executive Roger Brosch explains that agreeing valuations has proved a major blocker in many cases.

To read the full article on Financial Adviser, please click here.