Verso Wealth Management has acquired a specialist financial advice firm, taking its overall assets to £1bn.
Verso announced today (August 18) that it has purchased Campbell Thomson Insurance Services, marking its fifth acquisition and the first in Scotland.
Last year, Verso entered into a strategic partnership with Cairngorm Capital, and is currently aiming to build a national digital wealth management group.
Chief executive of Verso, Andrew Fay, said “With the support of our strategic partners, Cairngorm Capital Partners and their buy, build and transformation expertise, we are pursuing an ambitious consolidation plan, to build a market leading wealth management group with capabilities in financial advice and investment management, powered by the Verso platform.
“Campbell Thomson forms an important part of this.”
Campbell Thomson has 13 staff and £315mn of assets under advice.
Director of Campbell Thomson, Stewart Thomson, said the team will be able to relinquish its day-to-day regulatory and operational hurdles and focus on what it does best, “providing our clients with the very best advice available".
He said: “We view our partnership with Verso as a key part of our future growth strategy.”
Verso is a digital wealth management group providing financial advice and investment management.
The news comes a few weeks after Verso purchased Sunderland-based CDC Wealth Management as part of its IFA consolidation plan.
It is actively pursuing an IFA consolidation plan and said it is in advanced negotiations with a pipeline of IFA firms.
sally.hickey@ft.com
