Verso’s processes are designed to comply with the FCA’s regulatory requirements and connect with the most
used industry applications. Our proposition allows cost-effective customer segmentation by value and
complexity, thus allowing differentiated service and advice models via automation, remotely via
telephone and video, or in person.
We embody innovative, versatile and world class financial management
Verso believes that the parallel trends of the increased complexity of consumers’ advice
their growing adoption of digital services and rising automation in wealth management will endure
over the long term. The combination of award winning technology, high quality advice and an
exceptional management team ensures that Verso is well placed to capitalise on this.
Verso is pursuing an IFA consolidation strategy. Together with our strategic partners, Cairngorm
Capital, our buy, build and transformation experience and expertise will enable Verso to adopt an
effective growth strategy, in order to create a World class wealth management group.
Verso’s approach overcomes the inherent, highly manual, inefficiencies in the financial advisory
market. We are not only for but led by advisers and will deliver to our clients a quality service that is
tailored to their individual circumstances and requirements, whilst being complemented, and supported,
by market leading technology and processes.
Effective segmentation will enable advisors to provide a high quality and cost-effective service to
existing and new clients, and as such, the model will support a broader spectrum of clients, including
the sizeable segments of the population that have been underserved to date, such as modest savers and
the next generation of investors.
For advisors, the technology proposition will alleviate many of the regulatory and operational
challenges impacting the IFA community, allowing them to spend more valuable time focused on their
Verso is in advanced negotiations with a pipeline of IFA firms and is actively looking for
further firms that it can acquire. Andrew Fay, our Chief Executive said, “Verso will make it
far easier for advisors to maximise efficiency, reduce compliance risk and increase revenue.
Our goal is to become a leading IFA consolidator and there’s no limit to our
ambition. We would invite any IFA firm that is interested in learning more, to contact us. We are really
excited to be partnering with the team at Cairngorm Capital. They have invaluable operational and
investment experience in the sector, which we look forward to drawing on. Together, we will
have the resources and the expertise to make Verso Wealth Management a very exciting business for
MEET THE TEAM
I have 30+ years sector experience co-founding Cavanagh Group, later acquired by Close Brothers in 2011.
I jointly led the acquisition and transformation of 3 new businesses whilst at Cavanagh. I led Close
Brothers Asset Management wealth management division for 3 years, including as Chair of the Integration
for the amalgamation of 4 businesses within the division plus the integration of 2 acquisitions. I am
the CEO of the Verso group, responsible for setting the strategic direction and leading the rapid
expansion through consolidation and transformation.
I have 45 years experience in the industry, training as an actuary with a consulting firm and an
insurance company. At the age of 26 I formed a Consulting Actuarial practice and became a pensioneer
trustee. That business grew into a leading SASS provider and international employee benefits
consultancy, until it was acquired by Abbey National Bank in 1995 where I was Director of Actuarial and
Consulting Services. In 2000 I formed Whitefoord LLP and have been its CEO ever since. I will be leading
Verso’s DFM business to deliver investment services across the Verso Group and will be a member of
Group Executive Board.
I have 25+ years sector experience. I worked at Legal &
General for 20 years, becoming Operations Director for L&G’s self-directed platform, building
business to £5.5bn AUM in 18 months. I became part of the senior team that acquired Suffolk Life before
joining Close Brothers as Head of Strategic Relationships in 2012 and Munnypot thereafter in 2015. As
COO of the Verso group, I am responsible for the integration of acquired businesses and unlocking value
from the implementation of interventions.
I have 30+ years sector experience, starting my career as a
financial advisor before co-founding Cavanagh Group. I jointly led the acquisition and transformation of
3 new businesses during my time at Cavanagh and served as Head of Advice for 3 years at Close Brothers
Asset Management. I was the chairman of MedPharm for 2 years, leading to the sale to Ampersand in March
2018. As MD of the Verso group, I am responsible for delivering the transformation strategy and ensuring
the effective integration and growth of acquired targets.
Munnypot provides a fully automated investment service that delivers affordable and easily understood
financial advice to individuals. Built to comply with the FCA’s regulatory requirements,
Munnypot’s award winning technology provides a straight through processing engine that dispenses
financial advice, facilitates financial planning, supports product selection and automates elements
of client servicing.
WHITEFOORD WEALTH MANAGEMENT
Whitefoord offers a comprehensive wealth management service that combines discretionary fund
management, investment management services and financial advice to provide its clients with a highly
personalised and bespoke service. Based in London with a team of 31 advisors, investment
professionals and support staff, it manages portfolios for private clients, trusts and pension funds,
were valued in excess of £312 million as at Q1 2021.
Cairngorm Capital acquires Munnypot and Whitefoord (Subject to FCA approval) to launch Verso Wealth
Management, a digital wealth management firm