Standard Life Aberdeen’s financial planning business, 1825, has acquired a Bristol-based financial management firm with more than £350 million of assets under advice.
The takeover of Fraser Heath Financial Management will establish 1825’s south west regional office with 23 employees including seven planners and five para-planners.
Founded 15 years ago, Fraser Heath specialises in wealth management, retirement planning and workplace pensions.
Upon completion of the latest acquisition, the 1825 operation will have more than 70 financial planners advising some 8,500 clients on around £3.7 billion of their assets.
Julie Scott, 1825 chief executive, said: “Fraser Heath is a great addition to our business and we welcome them to 1825. Establishing a regional office in the south west extends our financial planning footprint even further across the UK.
“It’s just over two years since we launched 1825 in response to the growing demand for financial advice and there are many more exciting opportunities out there as we continue to create a financial planning business of significant scale.”
Fraser Heath’s leadership team of Jim Collier, Alan Loomes and Mark Fletcher will continue the day-to-day running of the business following the deal’s completion.
Collier, managing director at Fraser Heath, 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 [and] sharing and accessing resources.”