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Verso Wealth Management has been named the UK’s best-performing financial advice firm in an annual study carried out by FT Adviser, a sister publication of the Financial Times.

The title’s Top 100 Financial Adviser rankings have been running for nearly 30 years, and recognise companies that have brought in new assets under advice, while retaining clients and expanding their businesses.

London-based Verso ousted incumbent Johnston Carmichael, which held the top spot for three consecutive years.

Alan Mathewson, chief executive of Verso Group, ascribed the success of the company to its commitment to training and retaining highly qualified advisers.

“Our chartered and accredited status sets a clear benchmark for professionalism and ethics. These are not easy to achieve or maintain,” he said.

The methodology for the ranking is refined each year, in collaboration with ISS Market Intelligence, with the aim of highlighting what sort of service and value for money clients should expect from financial advice firms in the UK.

This year, firms in the 150-name longlist achieved their highest gross sales, topping £200mn for the first time. 

Many firms put this down to clients needing more help following the 2024 Budget, where chancellor Rachel Reeves announced changes to the treatment of inheritance tax on pensions, the non-dom regime, capital gains tax and to business and agricultural property relief. These have created confusion, particularly given the delivery dates for some changes. 

This year, FT Adviser launched a new ranking of the top 50 boutique firms, for those with fewer than 10 registered financial advisers. Among them is Cranleigh-based Informed Choice. Managing director Shelley McCarthy, said: “Fear, or suspicion, of potential government changes to the taxation of accumulated wealth is on the increase, motivating people to seek professional financial planning advice, and we have certainly noted an increase in such Inquiries.”

In both rankings, the companies were scored on criteria including client retention, longevity and whether they or their advisers had been given a charter or certification by an accrediting body. 

Since all IFAs must have a Level 4 diploma, the minimum requirement set by the Financial Conduct Authority, the report also took account of those advisers with higher-level qualifications.

Simoney Kyriakou is editor of FT Adviser