UK-based independent financial advisor (IFA) has acquired Prosperity, a wealth advisor based in the UAE.
Under the terms of the deal, Prosperity will continue to operate as an independent brand run by current chief executive Andy Cole.
DeVere founder and chief executive Nigel Green has described the acquisition as a continuation of the firm’s “ambitious vertical and horizontal growth strategy”.
The move would also enable deVere to expand its adviser base in the Gulf Cooperation Council market where there is a growing “client demand for specialist cross-border financial advice”, said Green.
He also said that the company’s growth plan included further acquisitions and the launch of additional subsidiaries as well as new product and fintech development.
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