Verso Wealth Management has signed a deal worth up £500,000 to acquire WH Ireland’s Henley office.

WH Ireland said it would also assist Verso in marketing its services to the clients of its loss making Henley office, as it aims to streamline its own central functions and costs.

Some of WH Ireland’s Henley financial planning team have already joined Verso and under the terms of the agreement, WH Ireland is now allowing this team to participate in the Verso marketing activity earlier than otherwise permitted under their original contractual terms.

The portfolio subject to this marketing activity, in aggregate, is an estimated £152m of the group’s assets under management.

Under the arrangement, WH Ireland will receive cash payments linked to any revenue generated from the clients that transfer to and utilise Verso’s services in the period until 20 June 2025 – with the maximum aggregate amount payable by Verso valued at £500,000.

WH Ireland will also be surrendering its Henley office lease by the end of May in order to reduce its cost base and focus its wealth management operations in London, Manchester and Poole.

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