Verso Acquisition

Verso is a wealth management group providing independent financial planning advice and investment management services. By partnering with them, we can ensure the continued success of our well-established services, and gain access to additional resources and enhanced technology which will help us to serve you better.

Our highly regarded IEP Financial brand will continue and I will remain as Managing Director, working with our new colleagues at Verso, to expand their presence across the South of England. Ian Poysden and David Williamson will step back from their managerial roles but will continue to be involved within the business, looking after their clients.

We have made this business decision from a position of strength, with our main aim to grow and futureproof our successful business. We have been in discussion with Verso for a number of months so this has been a fully considered plan and we have had plenty of time to familiarise ourselves with the team at Verso and their strategic plans.

This move is a crucial part of our long term succession planning. Ian started working in the financial services industry when he was 23, at Providence Capitol and in 2005, opened the Allfield Financial Hove office (where I joined him in 2007, and David in 2009). After 33 years in the financial services industry, it is important for Ian to be able to plan a route to retirement in the future and this is an important step towards achieving that.

Joining Verso will enable our business to develop in a way that wouldn’t be possible without becoming part of a larger team. Running a growing business is a delicate balance of juggling lots of plates while not losing focus of our number one priority, which has always been to provide a high level of service to our clients and ensure we add value to your financial planning.

Verso’s national presence and digital capability will help us overcome inefficiencies and as a result, alleviate many of our regulatory and operational challenges. Just within the compliance function alone, IEP has had to navigate the Retail Distribution Review, MIFID Regulations, GDPR changes and currently, the Consumer Duty rules, all of which were significant and time consuming compliance undertakings.

What will it mean for you as our clients?

Our clients are at the heart of everything we do. When choosing the right firm to partner with for this next phase of IEP Financial, we wanted to ensure it was to the benefit of our clients as well as our team.
Over the next 12 months we’ll be gradually adopting Verso’s technology to enhance our service offering and efficiencies within the business. With the financial backing of Verso, we will also be growing our business and adding to our team. Over time, you will benefit from a broader range of services and enhanced support but without any increase to our fees.
We are pleased to assure you that there will be no change for you personally and no change to the team, so the people you’re used to dealing with at IEP Financial will continue to provide you with the same quality of service that we always have.

More about Verso

Verso was formed following the merger of Munnypot, an award winning fully automated investment service that delivers affordable and easily understood financial advice to individuals and Whitefoords – a London based private client wealth management firm. Using its proven and award-winning platform, Verso blends the expertise of its client advisors with digital technology to provide high quality and cost-effective services to its customers. IEP Financial will be the newest addition to this growing group, which is well on the way to building a market leading, national wealth management group.
We are very excited about this next chapter at IEP Financial and we’ll endeavour as always, to provide you with the very best service possible.

Patrick Spencer
Managing Director