Foster Denovo enhances its presence in Scotland with the acquisition of Verum Wealth, adding £87 million in assets under advice to its portfolio.

Information on the Target

Verum Wealth, established in 2015 by Tony McPhee, is a reputable financial advisory firm that has transitioned from a joint venture with an accountancy firm to an independent entity. The company primarily serves owner-managed businesses, providing tailored financial services designed to meet the unique needs of its clients. With an expert team that includes Angela Britton, Samantha McIntosh, and Alison Kerr, Verum Wealth is well-positioned to enhance its service offerings and expand its client base.

As part of the acquisition by Foster Denovo, the Verum team will relocate to Foster Denovo's newly established office in Glasgow's business district. This move follows the integration of Rosemount Asset Management into Foster Denovo's growth strategy, which underscores Foster Denovo's commitment to expanding its presence in key areas.

Industry Overview in the Target’s Specific Country

The financial advisory industry in the UK has been characterized by rapid transformation, driven by increasing demand for personalized advice and the need for firms to navigate c