Acquisition for Standard Life business
North West deal takes 1825 assets above £3bn
The deal will establish 1825’s North West Regional Office with 30 employees including seven advisers and four paraplanners.
Jones Sheridan, with assets under advice of about £350 million, is a long-standing financial planning business in Crewe, specialising in retirement planning, wealth management and wealth protection.
On completion of this and the other recently announced acquisitions, 1825 will have 75 financial planners 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 office. Mr Williams will take up overall responsibility for the North West office. He will also join the 1825 executive committee.
He 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 the last quarter of this year subject to certain conditions being satisfied, including receipt of regulatory approvals.
- John Devine, the chairman of Standard Life Investments, has been appointed as a non-executive director of Standard Life group board.
Sir Gerry Grimstone, chairman, said: “His experience and background in operations and technology as well as his board experience make him an ideal addition as we continue to build a world class investment company”.
Mr Devine will join the remuneration committee, and the risk and capital committee.
He has been a director of Standard Life Investments (Holdings) since September 2012 and its chairman since April 2015.
Following this appointment, the board of Standard Life will comprise four executive directors, seven non-executive directors and the chairman.
The board will be made up of three women and nine men.