VERSO WM ACQUIRES SUNDERLAND BASED WEALTH MANAGEMENT COMPANY

Capital and Trust - March 15, 2022 - 0 minute read

CDC Wealth Management Limited has been acquired by Verso Wealth Management, this is the second acquisition of the year for Verso, who purchased Chartered firm Pavis Financial Management in January 2022.

The addition of Pavis and CDC to the Verso group adds scale to Verso’s network and creates hubs in the Northeast, building its national footprint.

CDC, who were founded in 2006, combines financial advice and planning, with discretionary investment management to provide a comprehensive wealth management service, with the team of 10 advisers, investment professionals and support staff, they provide advice on assets exceeding £150 million, as at Q4 2021.

CDC’s four principal directors, Phil Cain, John Dixon, Andrew Mann and Sue Butterworth, will remain in the firm working with Verso’s executive team.

One of the Directors Andrew Mann said: “We are delighted to be joining Andrew and the team at Verso. It is the natural evolution for our firm – we gain additional resources and enhanced technology, enabling us to leapfrog to the next generation of digital infrastructure painlessly. Pairing our expertise with Verso’s automated advice capability and straight-through-processing engine, we will be able to serve our existing clients better and importantly, broaden the types of clients we are able to serve.”

Andrew Fay, Verso’s chief executive said: “I am delighted to welcome all at CDC to the group. It is an exciting time to join Verso as our plans begin to gather pace.”

 

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