VERSO WEALTH MANAGEMENT HAS ACQUIRED GLASGOW-BASED FINANCIAL PLANNING FIRM

Verso Wealth Management a Digital wealth manager has acquired Financial Planning firm Campbell Thomson.

Established in 1978, Campbell Thomson is a Financial Planning firm with 13 advisers, planners, and support staff, based in Glasgow. Assets under advice for the firm were £315m at the end of the second quarter.
Campbell Thomson’s director’s, Stewart Thomson and Euan Bottomley will remain with the firm and will work with Verso’s executive team to expand Verso’s presence across Scotland.

This is the fifth acquisition Verso have made, but the first one based in Scotland. In January, Verso acquired Chartered firm Pavis Financial Management, following its strategic partnership with private investment firm Cairngorm Capital. In March, it bought acquired CDC Wealth Management.

This deal will take Verso’s assets under management to over £1bn.

One of the directors of Campbell Thomson, Stewart Thomson said, “We are delighted to be joining Andrew and the team at Verso as the Verso model overcomes many of the challenges and inefficiencies in our market. We will be able to relinquish our day-to-day regulatory and operational hurdles and focus on what we do best – providing our clients with the very best advice available. We view our partnership with Verso as a key part of our future growth strategy.”

Andrew Fay, CEO at Verso 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.”

The fee has yet to be disclosed.

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