1825 is set to acquire Crewe-based firm Jones Sheridan, which has assets under advice of about £350m, and by doing so will create a new north west regional office. It will have 30 employees including seven advisers and four Paraplanners.
No fee was disclosed for the acquisition.
The buy out is the next step towards creating a “UK wide Financial Planning footprint”, Standard Life said, with planners now advising over 9,300 clients on around £3.3bn of their assets.
Jones Sheridan’s leadership team, headed by managing director David Williams and chairman Stuart Banks, will stay with the business post completion to help grow and develop the regional office. David will take up overall responsibility for the north west regional office. He will also join the 1825 executive committee.
David Williams, managing director at Jones Sheridan, said: “Having built the business up over the last 16 years, it now feels absolutely the right time to take it to the next stage.
“The breadth of the 1825 proposition will enable us to offer our clients market leading solutions for all their planning needs. Joining 1825 is a very natural fit for us as we are both strongly aligned to the belief that advisers add the greatest value by helping clients understand and achieve their financial goals.
“1825 can also offer us the resources and scale to enable the business to grow and prosper, while offering our people the development opportunities available by being part of a larger organisation.”
Steve Murray, 1825 chief executive, said: “Today’s announcement is another step towards 1825 building a UK wide Financial Planning footprint.”
The transaction is expected to complete in early Q4 2016 subject to certain conditions being satisfied, including receipt of regulatory approvals.