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Standard Life takes stake in RSM BJ FM and eyes further IFA targets

Standard Life has taken a 20 per cent stake in RSM Bentley Jennison Financial Management and says it will look at further minority stakes in IFAs.

The division is a subsidiary of an accountancy firm, delivering pensions, protection and wealth management advice.

Standard Life director of distribution strategy Stephen Ingledew says: “This investment represents another important step in the ongoing development of our business and we are delighted to be joining forces with BJFM.

“Given the quality of their proposition and management team, we view this as an exciting opportunity to work closely with them to support the growth and development of their business.

“Over the next few years we expect to see significant developments in the UK distribution landscape and believe this investment will leave us well placed to benefit from future change.”

RSM Bentley Jennison national managing partner Tony Stockdale says: “We are delighted to have attracted such a respected corporate partner and are looking forward to working with Standard Life to develop one of the UK’s leading financial management businesses.

“Their investment has not changed our existing growth strategy, but it will allow us to accelerate it considerably and is third party endorsement that our approach is one worthy of support from such a credible organisation.”

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