The global advisory firm extends in the Gulf buying another UAE-based IFA.

The purchase of Credence International is the second such deal in the United Arab Emirates in as many weeks for the DeVere Group, founded by chief executive Nigel Green, who has made no secret of his ambitious growth-through-acquisition plans for the year, driven by clients and regulatory needs. The group added a 50-member advisory team earlier this month by acquiring Prosperity, another established IFA in the region.

This latest deal for DeVere, which serves around 80,000 high net worth, expat and international investor clients, adds an advisory team of 26 based in Dubai.

Green said: “I’m thrilled to confirm the acquisition of Credence International, which is known for its robust core value of having a laser-like focus on delivering best outcomes for clients, thereby helping them to reach, and often exceed, their long-term financial goals. I will be proactive in pursuing material benefits for clients.”

The group said that Credence will remain independent under chief executive, Chris Ferguson.

Ferguson added that the agreement would allow the business to “expand and grow in many directions on many different levels” with the additional resources, commitment and expertise provided by DeVere.