Standard Life’s financial planning business 1825 has completed its second acquisition within a week with the purchase of Scotland-based Munro Partnership.
The deal adds more than £600m in assets under advice to 1825, and comes shortly after the firm announced a deal to acquire Norwich-based Almary Green.
Munro currently has offices in Ayr, Glasgow and Hamilton, and will serve as 1825’s Scottish regional operation.
Pending regulatory approval, the deal is expected to complete by the end of July 2016, following which the Standard Life business will have 59 financial planners advising 8,700 clients on over £2.6bn of their assets.
Munro chairman Stephen Munro and managing director David Hughes will join 1825, taking seats on the firm’s executive committee.
Hughes says: “Joining 1825 is an exciting phase in the development of our business and one which will bring increased benefits to both our employees and our clients.
“Having access to the resources of a national financial-planning business will ensure our clients will benefit from leading financial planning services and innovative investment solutions, which will continue to evolve as their needs and the world around us changes.
“Importantly, both 1825 and Munro Partnership are focused on developing their people and joining 1825 will ensure our employees have even more opportunities to progress and develop personally”.