1825 to acquire Grant Thornton’s wealth advisory business
- Acquisition of Grant Thornton’s wealth advisory business significantly accelerates 1825’s ambition of creating a national financial planning and advice business in the UK
- In line with Grant Thornton’s focus on its growth strategy, the firm determined its wealth business had greater potential under new ownership
- Significantly expands 1825s advice capability and national client reach by adding 34 financial planners
- Largest 1825 acquisition to date, increasing assets under advice (AUA) to £5.8bn – up £1.7bn, an increase of over 40%.
1825, Standard Life’s wholly owned financial planning and advice business, today announces that it has entered into an agreement to acquire the wealth advisory unit of Grant Thornton UK LLP. With over 100 employees, including 34 financial planners joining the business, this is a significant step forward in 1825 becoming one of the leading advice providers in the UK.
Led by Neil Messenger, Grant Thornton’s wealth advisory team provides advice on all aspects of financial planning including family and business finance. As well as the UK-wide financial planning team, it has two client support centres in Belfast and Sheffield, bringing a range of specialisms and expertise that will enhance the 1825 business.
Julie Scott, CEO, 1825, added: “Today’s announcement significantly accelerates 1825’s growth plans and gives us a broader UK-wide presence. Demand for high quality financial planning and advice continues to grow and with over 110 financial planners we will be well-placed to help more people access advice.”
“I was delighted when Grant Thornton approached us with the idea. We are very much aligned with our shared desire to offer the best quality advice to our clients. We are excited about the future and look forward to welcoming the team to 1825.”
Dave Dunckley, CEO of Grant Thornton UK LLP, commented: “As we increase our focus on our strategy to provide high quality audit, tax and advisory services to our core markets, it is clear the wealth advisory team’s growth potential would be best delivered by a business focused solely on the financial advice market.
“The team’s clients will undoubtedly be better served through 1825’s approach and proposition, with the businesses sharing a natural alignment in values and goals, so it makes practical sense for the team to be in an environment in which it can flourish. We wish Neil and the team continued success into the future.”
The deal is expected to complete in Q4, 2019. The commercial terms of the transaction remain undisclosed.
For further information, contact:
+ 44 (0)131 245 5916/+ 44 (0)774 092 4558
For Grant Thornton UK LLP:
Senior External Communications Manager
+ 44 (0)20 7728 3104 / +44 (0)77 8649 6343