Foster Denovo  

Foster Denovo lands £100mn PE funding to grow advice firm

Foster Denovo’s boss added: “This is a US business with a UK arm which has been here for many years. The London team has headed up a lot of the 24 or 25 European investments the firm has made so far. We feel like we’re interacting with a UK business.”

The aspiring national advice firm has its own white-label platform called ‘Clearview’ using Tercero technology, part of Third Financial.

Its aim, alongside a five-year acquisition strategy, is to revamp its digital services through third-party services rather than build them itself. “Tech can get out of date quickly,” Brosch explained.

The firm already uses the likes of Intelligent Office, but it requires other capabilities - such as being able to feed data between the two business arms when appropriate.

While the firm is much more confident now than it was three years ago, Brosch said the firm’s services really need to go from guidance to self-service with advice in the middle.

ruby.hinchliffe@ft.com