Standard Life Aberdeen (SLA)'s financial planning arm, 1825, is said to be in "exclusive negotiations" to acquire the wealth advisory business of accounting firm Grant Thornton (GT), according to Sky News.
Spokesmen for both SLA and Grant Thornton offered "no comment" on the report. The deal, said to be for approximately £30m, would see roughly 100 employees join 1825 upon completion, including "a handful" of partners and around 30 financial advisers. GT is currently ranked fifth behind the ‘Big Four' by revenue, according to the ICAS in December 2018 - the professional body for chartered accountants, with nearly £500m. Raft of departures from Aberdeen Standard Investments' sales team amid restructuring According to Sky News, the transaction would be a "more significant" deal tha...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
