Foster Denovo acquires employee benefits consultancy TEBC

IFA Foster Denovo has acquired employee benefits consultancy TEBC, which will be integrated into the firm’s existing employee benefits proposition Secondsight.

TEBC brings with it five staff and has about 100 corporate client relationships, mainly providing advice on pensions and group risk, as well as face-to-face member advice.

The staff will join Foster Denovo following the acquisition and will over time be integrated into the IFA’s existing employee benefits division, Secondsight, it said.

Chief executive Roger Brosch said this was the first acquisition it has completed as part of its growth strategy. Foster Denovo already has eight offices across the UK.

He said: “Sue Lewis, who heads up TEBC, has built exceptionally strong relationships with her clients and her experience in financial services and employee benefits is invaluable. I am particularly looking forward to Sue joining and sharing her extensive knowledge with her new employee benefit colleagues in Secondsight.”

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