Private equity-backed Verso Wealth Management has acquired Glasgow-based Campbell Thomson Insurance Services for an undisclosed sum.
The deal takes Verso’s assets under management to over £1bn ($1.19bn, €1.18bn).
Founded in 1978, Campbell Thomson is a financial advice firm with a team of 13 advisers, planners, researchers and support staff. It has just over £315m in assets under advice, as at Q2 2022.
Stewart Thomson and Euan Bottomley, Campbell Thomson’s owners, will remain at the firm working with Verso’s executive team to expand the wealth manager’s presence across Scotland.
Campbell Thomson is the fifth acquisition by Verso and its first in Scotland.
‘Ambitious consolidation plan’
This deal comes a year after private equity firm Cairngorm Capital Partners acquired robo-adviser Munnypot and London-based financial advice company Whitefoord to set up Verso.
Then, in 2022, Verso bought Liverpool-based Pavis Financial Management and Sunderland-based CDC Wealth Management.
Andrew Fay, chief executive of Verso, said, “I am delighted to welcome everybody at Campbell Thomson to the group. 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.”
