Helping Verso Wealth Management To Acquire IEP Financial Limited
Our client, Verso Wealth Management (Verso) has acquired Independent Financial Advisor, IEP Financial Limited.
The Investments team at Thistle Initiatives was engaged by Verso to undertake compliance due diligence to acquire the Hove-based IFA, IEP Financial.
This acquisition, the fifth in 2022 by Verso, marks a significant step forward in the delivery of Verso’s strategy to build a market leading, national wealth management group and increases its assets under management (AUM) to over £1.8 billion.
Founded in 2005, IEP Financial provides specialist financial advice and planning for individuals and corporate clients across Sussex and the Southeast.
The addition of IEP Financial to the Verso group, adds significant scale to Verso’s advisory network and expands the reach of its wealth management proposition across the Southeast of England.
Simon Redgrove, Verso’s Managing Director said, “I am delighted to welcome everybody at IEP Financial to the Verso family. Patrick and his team will play an important part in transforming our business across the South of England. With the support of our strategic partners, Cairngorm Capital, and their buy, build and transformation expertise, we have made great progress towards our goal of building a national, market leading wealth management group. This year we completed five acquisitions, and we have a pipeline of further investments planned for 2023 so the next 12 months are on track to be transformational.”
Neil McGill, Managing Director, who led Cairngorm Capital’s team on this investment with the support of Adam Watson, Investment Manager, said, “We are delighted to be able to support Verso’s continued growth. IEP Financial is an excellent company with a well-deserved reputation for outstanding service. It demonstrates all that we like in a partner firm – robust financial performance, differentiated service and an excellent management team. IEP’s addition brings scale to Verso’s national footprint and group AUM, particularly in the dynamic South East region. We look forward to building on Verso’s strategic success in 2023.”
Thistle Initiatives has played a key role in all five of Verso’s acquisitions in 2022, building on our well established partnership, 2023 is already looking to be another busy year.
James Dingwall, Founder and CEO at Thistle Initiatives said, “We would like to congratulate Verso on this most recent acquisition success of IEP Financial. It is always a pleasure to work with the team at Verso and provide acquisition due diligence support. Everyone at Thistle is excited to see what is in store next for them in 2023”.
Find out more about our Acquisition Due Diligence services or to speak to a member of our expert team, please call 0207 436 0630 or email info@thistleinitiatives.co.uk.