Crawley, West Sussex, 14 December 2022: Verso Wealth Management (Verso) is pleased to announce its acquisition of IEP Financial Limited (IEP Financial). This acquisition, the fifth for 2022, 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 South East. With a reputation for outstanding service, the firm has a team of 34 advisors, planners, researchers and support staff based in Hove, East Sussex. IEP Financial provides advice on assets exceeding £525 million, as at Q2 2022.
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 South East of England. Patrick Spencer, IEP Financial’s Managing Director, will remain in the firm working with Verso’s executive team to expand Verso’s presence across the region. Chairman, Ian Poysden and Director, David Williamson both step back from their management positions but will continue to work in the business, looking after clients.
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.”
Patrick Spencer, Managing Director of IEP Financial, added, “We are delighted to be joining Simon and the team at Verso, and view their established platform as a key enabler of our growth strategy. Verso’s client-centric business model, with its focus on quality financial planning, exceptional value for money and professionalised compliance function removes many of the challenges and inefficiencies we face today as a business. It is attractive to both our clients and advisors alike, and we are excited to continue to expand IEP’s presence in the South of England while working closely with Simon and team under the Verso banner.”