Verso Wealth Management has acquired Liverpool-based chartered financial planning firm Pavis Financial Management for an undisclosed sum.

The deal, which follows Verso’s partnership with Cairngorm Capital Partners, form part of the company’s strategy to grow into a national digital wealth management group.

Founded in 1992, the acquired entity provides a range of advisory and investment services to its customers across the UK. These services include investment management, financial planning, estate planning, retirement planning, and pensions advice.

The firm has £280m in assets under advisement as of the end of third quarter last year.

Verso expects the deal to expand its existing network and help it form a hub in the North West as it seeks to bolster its national footprint.

Verso CEO Andrew Fay 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.

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“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.”

As agreed, Pavis will continue to be led by current managing director Quentin McCormick, who will collaborate with Verso’s executive team to expand its footprint in the North West region.

The company’s chairperson and co-founder Bob Newton will continue with the business on a part-time basis while directors Steve Robertshaw, Julie Calvert, and Carly Dunningham will remain in their current roles.

McCormick said: “We are delighted to be partnering with Verso as its 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 are already beginning to see further recruitment and acquisition opportunities and view our partnership with Verso as a key part of our growth strategy.”