Foster Denovo builds on north-east presence with first acquisition of 2026

Foster Denovo has acquired a further advice firm in the north-east to extend its presence in the region.

The UK-wide advisory group has added Shaun Carr Financial Services to its wealth management division in a further boost to the firm’s Tyneside hub.

Carr will be a senior partner bringing with him £53 million in assets under advice for 157 households. He will be based in North Shields.

He attributes the positive experience of the advisers from what was formerly Wade Financial in Newcastle, who joined Foster Denovo in 2023 as key to his decision to come onboard.

Shaun 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 Chief Executive Officer 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”

This latest acquisition comes as the number of internal practice buy-outs has reached 26, all of which contribute significantly to the group’s earnings. The business, which also includes employee benefits consulting division, Secondsight, now has 13 offices across the UK.

The group is currently embarked on a major technology project, called Symphony, to embed agentic AI across its day-to-day operations, freeing its teams to spend even more time working with clients.

Foster Denovo has been recognised for its excellence in developing its employees by achieving the Investors in People (IIP) platinum accreditation, its highest level.

You can also read the press release on:

Professional Adviser

Money Marketing

Foster Denovo Limited, is authorised and regulated by the Financial Conduct Authority. Registered office: Foster Denovo Limited, Ruxley House, 2 Hamm Moor Lane, Surrey, KT15 2SA