Foster Denovo has acquired Midlands-based Brian Mole Independent Financial Advisers, adding £300m in assets under advice.

The deal is Foster Denovo's sixth acquisition in 12 months, and adds a 14th office to its UK footprint.

The price paid for the acquisition has not been disclosed.

Burton-upon-Trent-based Brian Mole IFA employs seven advisers serving 1,300 clients.

The seven advisers; Kevin Douglas, Dean Woodward, Nigel Fern, David Hulland, Mark Hill, Nigel West, and Leighton Norton, will also bring their nine support staff with them to join the Foster Denovo team.

Roger Brosch, CEO of Foster Denovo, said: “What struck me about Kevin and the team is that they genuinely care about one another, their clients, and the highest standards of advice.

“Add in a perfectly aligned culture between us all and you have the raw ingredients for a successful integration and a period of exciting growth. I am hugely excited to start working with everyone there and seeing what great things we can achieve together in the Midlands.” 

Nigel Fern of Brian Mole said the acquisition will enable the firm to develop further with the resources and support it brings.

During the past year, Foster Denovo has acquired Rosemount Asset Management in Glasgow to found a hub in Scotland, and financial adviser 80Twenty Consultancy in Leicestershire. It has also acquired wealth managers Wade Financial in Newcastle and Creative Financial Solutions in Hampshire.

The firm also doubled the size of its employee benefits division with the acquisition of Punter Southall’s corporate advisory arm.