Deal adds scale to Edinburgh business
Financial planner acquisition for Standard Life’s 1825
Standard Life launched 1825 in February last year in response to fundamental regulatory and market changes that are driving unprecedented demand for advice from clients.
Almary Green, which provides personal advice to 1,900 clients, was founded by influential industry professional Carl Lamb in 2001. The firm, headquartered in Norwich and serving the East Anglian region, has achieved chartered status and won multiple industry awards.
It has 44 employees, including 22 advisers and paraplanners. On completion, Standard Life will have over 50 financial planners advising over 7,000 clients on around £2.0 billion of their assets.
Mr Lamb, managing director, will continue to head the business and will join 1825’s executive committee. He said: “The changing pension landscape and its inherent opportunities and risks have created a huge need for quality advice. As an industry, we need to bring advice to a wider audience and to change the advice model accordingly.
“Our challenge as a firm has been to scale up our business to meet the demand, ensuring we have the resources to provide cutting edge service and advice to clients and, at the same time, tackle the issues brought about by increasing regulatory requirements and costs.
“Joining 1825 will give us the best foundation and resources to continue to rise to that challenge. “
Steve Murray, 1825 CEO, said: “Today’s announcement accelerates our ambition to build a nationwide financial planning business of significant scale through organic growth and the acquisition of progressive financial planning firms who are aligned with our values and vision.”
The transaction is expected to complete in the first half of this year.