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Standard Life advice arm buys Bristol firm

General-Business-Handshake-Hire-Appointment-700x450.jpgThe acquisition is the fifth since Standard Life established 1825 more than two years ago

Standard Life’s restricted advice business 1825 has acquired Bristol-based Fraser Heath Financial Management, which has £352m assets under advice.

The deal is expected to complete in the first quarter of 2018.

Once the acquisition completes 1825 will have more than 70 planners advising around 8,500 clients on around £3.7bn of their assets.

The restricted business has previously acquired Pearson Jones, Baigrie Davis, Jones Sheridan and Munro Partnership while a deal with Norwich adviser Almary Green fell through last year.

The firm will establish 1825’s south west regional office, which will have 23 employees including seven advisers and five paraplanners.

Fraser Heath’s leadership team of Jim Collier, Alan Loomes and Mark Fletcher will continue to run the business after the acquisition is completed. Collier will also become south west regional office managing director and will join the 1825 executive committee.

1825 completes Jones Sheridan acquisition after Almary Green U-turn

Collier says: “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.”

1825 chief executive Julie Scott says: “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.”

1825 launched just over two years ago, and the results statement from its first 16 months in business reported a £5.5m loss. Total revenue was £1.1m and total expenses were £8.1m. Pre-tax losses were £7m.

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  1. Sher Prenderville 27th October 2018 at 3:05 pm

    One of the long serving advisers left shortly after announcement I imagine taking his clients with him. It was sold that advisers would not have to change clients to Standard Life wrap but I understand that in other aquisitions it had to be strongly justified if they chose not to switch across at review, this may be rumour but has a ring of truth to it. The wrap is a good platform at this time however when you look at a falling share price and their top fund GARS haemorrhaging money through outflows but still showing as a top holding in many of the 1825 sample portfolios (available on their website) the firms ability to move away from the platform is gone. This cannot be in a clients best interests however, the directors try to wrap it up. If as in previous aquisitions after 2 years many directors leave so the clients who put their trust in them ultimately let down and to all purposes sold to a life company. I hope many clients see through the facade and seek independent advice

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