Verso Wealth Management (Verso) is pleased to announce its acquisition of CDC Wealth Management Limited (CDC). This acquisition continues Verso’s strategy to build a market leading, national wealth management group.
Founded in 2006, CDC is a wealth management company serving private individuals, families, trusts and companies across the UK. With offices in Sunderland, CDC combines financial advice and planning, with discretionary investment management, to provide a comprehensive wealth management service. With a team of 10 advisors, investment professionals and support staff, CDC provides advice on assets exceeding £150 million, as at Q4 2021.
The addition of CDC to the Verso group adds scale to Verso’s network and creates hubs in the North East as Verso builds its national footprint. CDC’s four principal directors, Phil Cain, John Dixon, Andrew Mann and Sue Butterworth, will remain in the firm working with Verso’s executive team to expand Verso’s presence across the North East. In addition, Andrew Mann will continue to lead CDC’s investment proposition working, alongside Verso’s discretionary investment management team and will assist with integration across the group.
Andrew Fay, Verso’s Chief Executive said, “I am delighted to welcome all at CDC 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 IFA consolidation plan and accelerated growth strategy, to build a market leading, national wealth management group. CDC forms an important part of this.”
Andrew Mann, Director of CDC added, “We are delighted to be joining Andrew and the team at Verso. It is the natural evolution for our firm – we gain additional resources and enhanced technology, enabling us to leapfrog to the next generation of digital infrastructure painlessly. Pairing our expertise with Verso’s automated advice capability and straight-through-processing engine, we will be able to serve our existing clients better and importantly, broaden the types of clients we are able to serve.”