Foster Denovo completes Partner buyout
Foster Denovo Limited, the national firm of financial advisers, has completed its first Partner buyout.
Brian Bartlett, a Partner who has been with Foster Denovo since 2005, will retire from the firm at the end of 2015. Partners Dennis Wheway and John Pickering have agreed to purchase Brian’s client bank under a practice buyout arrangement (PBO).
This arrangement was introduced in Foster Denovo as a solution for Partners who are considering retirement and who wish to ensure their clients continue to receive a consistent level of service. It is also marketed as a solution for advisers outside of the business who are approaching retirement, and who wish to realise some capital value, as well as ensuring their clients continue to receive a first class level of service.