Wealth management

Campbell Thomson is Verso’s first Scots deal

Andrew Fay: exciting time

Verso Wealth Management has acquired Glasgow-based Campbell Thomson Insurance Services, its fifth acquisition and first in Scotland.

The deal advances Verso’s plan to build a national wealth management group and takes its assets under management to more than £1 billion. Transaction details were not disclosed.

Founded in 1978, Campbell Thomson is a second generation firm providing specialist financial advice and planning for businesses and individuals across the UK.

The firm has a team of 13 advisers, planners, researchers and support staff in Glasgow. Campbell Thomson is providing advice on assets exceeding £315 million as at Q2 2022.

Stewart Thomson and Euan Bottomley, Campbell Thomson’s owners, will remain in the firm working with Verso’s executive team to expand Verso’s presence across Scotland.

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Andrew Fay, Verso’s chief executive, 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.”

Stewart Thomson, director of Campbell Thomson, added: “The Verso 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.

“We view our partnership with Verso as a key part of our future growth strategy.”

Neil McGill, managing director, who led Cairngorm Capital’s team on this investment, said: “Campbell Thomson is an excellent company with a well-deserved reputation for outstanding service.

“It demonstrates all that we like in a partner firm – strong performance, differentiated service and an excellent management team.”

Cairngorm Capital and Verso were advised on this transaction by Ernst & Young (financial and tax), Thistle Initiatives (regulatory) and Burness Paull (legal). Campbell Thomson was advised by Consilium (financial and tax) and Macdonald Henderson (legal).

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