Standard Life’s financial advisory subdivision 1825 has purchased Bristol IFA Fraser Heath Financial Management to establish a regional hub for the business in the South West.
In addition to filling in a corner of the regional map, the acquisition will add 23 staff and £325 million in client assets, bringing 1825’s total to 70 financial planners and £3.7 billion in funds under advice.
Office principals Jim Collier, Alan Loomes and Mark Fletcher, who have worked together for over 20 years, will remain in day-to-day charge of the organisation.
Collier said: ‘In coming to this decision, we’ve undertaken a full due diligence process on 1825 and through this we’ve found that we share a number of core beliefs, including a focus on long-lasting client relationships, a similar culture and comparable investment solutions.
‘We’re also looking forward to benefiting from being part of a larger group, from sharing and accessing resources, to further development of our people and fantastic career opportunities.’
1825 currently runs a network of 10 offices in Ayr, Bishop Auckland, Crewe, Edinburgh, Glasgow, Hamilton, Leeds, London, Reading and Sheffield, but was unrepresented in South West England.
‘Establishing a regional office in the South West extends our financial planning footprint even further across the UK,’ said 1825 chief executive Julie Scott (pictured).