Verso Wealth Management has acquired Liverpool-based financial planning firm Pavis Financial Management for an undisclosed sum.
Established in 1992, Pavis serves private clients across the UK and offers a range of advisory and investment services, including financial planning, investment management, pensions advice, retirement planning and estate planning.
As of Q3 2021, Pavis advised on assets of £280m ($376m, €336m).
The addition of Pavis adds scale to Verso’s network and creates a hub in the north west as Verso aims to build a national footprint.
Pavis’s chairperson and co-founder Bob Newton will remain with the business on a part-time basis and managing director Quentin McCormick will continue to lead Pavis, working with Verso’s executive team to expand its presence in the north west.
Julie Calvert, Steve Robertshaw and Carly Dunningham will continue as directors at the firm.
In other news, Verso has named Graham Coxell as non-executive chairman. Most recently, he was chairman of Rowan Dartington.
Andrew Fay, chief executive of Verso, said: “I am delighted to welcome the team at Pavis to the group. It is an exciting period for Verso as we work to implement our plans.
“We have a pipeline of planned investments within the investment management and financial planning space scheduled for this year and an ambitious service delivery timetable so 2022 is on track to be transformational for us. I look forward to working with Graham to deliver on our strategy.”
This deal comes several months after Verso’s private equity backer Cairngorm Capital Partners acquired robo-adviser Munnypot and London-based financial advice company Whitefoord for an undisclosed sum.
The acquisitions allowed Cairngorm Capital to grow its financial advice and investment management arm Verso Wealth Management.