Parmenion, the adviser platform and investment service, has told users that there will be no change to the way it operates despite the merger this week between its parent company Aberdeen Asset Management and Standard Life.

Parmenion has announced that its Sipp has broken through £1bn assets under management barrier as it marks its 10 year anniversary.

Aberdeen Asset Management has revealed the deal to acquire Parmenion will cost about £50m overall.

Parmenion has reported new investment inflows of £750 million in 2015 - a 50% increase on 2014.