Acquisition of two UAE-based firms Prosperity and Credence International
The 4th of March already, and what a busy month February was!
In the middle of the month deVere’s acquisition of UAE-based IFA firm Prosperity was announced, as part of our ambitious vertical and horizontal growth strategy.
As one of the GCC region’s most respected and licensed advisory companies, I’m thrilled with the Prosperity acquisition. As I was quoted by International Investment, Business Leader, and others in February, I very much look forward to further progressing the company’s world-class reputation, and using deVere’s size and substantial resources to enable the firm to expand and help more clients to reach their financial ambitions.
The initial phase of deVere’s growth strategy was unveiled at the end of last year with the launch of deVere’s own asset management company, dVAM.
By working alongside some of the best fund managers in the industry, dVAM has introduced a suite of outcome-orientated, low-cost solutions to the market.
Furthermore, last week I acquired Credence International, a UAE-based wealth management and advisory company.
As reported by FT Adviser, International Investment, International Adviser and Financial Planning Today, amongst other media, Credence International will remain an independent brand and will still be headed by its chief executive, Chris Ferguson. The firm is well-known for its strong core value of having a sharp focus on ensuring the best outcomes for clients, helping them to reach, often surpass their financial goals.
I’m highly confident that my investment in Credence will benefit the company’s clients, and working with the team there, I will be taking a proactive role in securing material benefits for clients.
This is certainly an exciting time within the global financial advisory industry as firms of all sizes grow and develop to cater to client expectations, market trends and regulatory obligations.
I look forward to continuing our overall growth strategy in 2019, which will comprise of additional acquisitions, the introduction of subsidiary brands, as well as cutting-edge product and fintech developments. It’s certainly going to be an exciting year!