A licensed financial planning firm has bought itself out | Northwest Deals

A licensed financial planning firm based in Liverpool has been acquired by a holding company of Cairngorm Capital Partners.

Pavis Financial Management has been acquired by Sussex-based Verso Wealth Management.

The acquisition advances Verso’s ambitions to build a national digital wealth management group.

Founded in 1992, Pavis serves private clients across the UK.

It offers a range of advisory and investment services, including holistic financial planning, investment management, retirement advice, retirement planning and estate planning.

The firm advises assets of £280 million, in Q3 2021.

The addition of Pavis to the Verso Group will add scale to Verso’s network and create a hub in the North West as it strengthens its national footprint.

Chairman and co-founder Bob Newton will remain with the company on a part-time basis. Quentin McCormick, Managing Director of Pavis, will continue to lead Pavis, working with Verso’s management team to expand its presence in the North West.

Julie Calvert, Steve Robertshaw and Carly Dunningham remain directors of the company.

Verso will also benefit from expert strategic advice and support from Graham Coxell, who joins as non-executive chairman.

Andrew Fay, Managing Director of Verso, said: “I am delighted to welcome the Pavis team to the group. It’s an exciting time for Verso as we work to implement our plans.

“We have a pipeline of planned investments in the investment management and financial planning space planned for this year and an ambitious delivery schedule, so 2022 is on track to be transformational for us. J I look forward to working with Graham to execute our strategy.”

Quentin McCormick, Managing Director of Pavis, said, “We are delighted to partner with Verso as their model overcomes many challenges and inefficiencies in our market. We will be able to let go of our day-to-day regulatory and operational hurdles and focus on what we do best: providing our clients with the best advice available.

“Our client-centric business model, focused on true financial planning and exceptional value for money, is attractive to both clients and advisors. We are already starting to see new recruiting and acquisition opportunities and view our partnership with Verso as a key part of our growth strategy.”

Managing Director Neil McGill, who led the Cairngorm Capital team on this investment, added: “Pavis is an excellent company with a well-deserved reputation for exceptional service.

“This demonstrates everything we love in a partner company – strong performance, differentiated service and an excellent management team. We are delighted to be able to support Verso’s continued growth.”

Cairngorm Capital and Verso were advised on this transaction by EY (financial and tax), Thistle Initiatives (regulatory) and Burness Paull (legal). Pavis was advised by Wheawill & Sudworth (financial and tax) and FS Legal Solicitors.