Foster Denovo Buys £87M Verum Wealth

London-based Foster Denovo announced that it is acquiring Scottish independent advisory firm Verum Wealth, adding £87M (~$107.31M) to its total AUA.

The Verum team, led by partner Tony McPhee, will be included in the firm’s newly-established business district hub in Glasgow, Scotland, after Foster’s acquisition of Rosemount Asset Management last year. Verum Wealth represents the firm’s seventh acquisition in over a year, and its first acquisition of 2025.

Foster Denovo said it now houses a network of 14 offices across the UK following a series of acquisitions it closed in 2024, including Brian Mole, 80Twenty, Wade Financial, and Creative Financial Solutions.