Verso Wealth Management, a portfolio firm of Cairngorm Capital Partners, has forayed into Scottish market with the purchase of Campbell Thomson Insurance Services.
Campbell Thomson, established in 1978, is a second-generation company that offer specialised financial advice and planning solutions for enterprises and individuals throughout the UK.
The company employs 13 advisors, planners as well as researchers and support team in Glasgow, Scotland.
In the second quarter of this year, Campbell Thomson offered advice on assets valued at more than £315m.
The latest acquisition, value of which has not been disclosed, represents the first deal made by Verso in Scotland. It also marks the fifth deal made by the firm so far.
With the deal, both the owners of Campbell Thomson, Stewart Thomson and Euan Bottomley, will continue to be associated with the company. They are set to work together with Verso’s executive team to help bolster the company’s footprint across Scotland.
The deal has enabled Verso to further support its plan to develop a major national wealth management entity. It has also increased the company’s assets under management to more than £1bn.
Verso chief executive Andrew Fay said: “It is an exciting time to join Verso as our plans begin to gather pace.
“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.” In March this year, Verso announced the acquisition of CDC Wealth Management in support of its IFA consolidation strategy.