Standard Life’s financial planning business establishes East Anglia office.
1825, Standard Life's wholly-owned financial planning business, today announces it has entered into an agreement to acquire Almary Green
with assets under advice of around £400m.
Standard Life launched 1825
in February 2015 in response to fundamental regulatory and market changes that are driving unprecedented demand for advice from clients.
Almary Green, which provides personal advice to 1,900 clients, was founded by influential industry professional Carl Lamb in 2001. The firm, which is headquartered in Norwich and serves the East Anglian region, has achieved chartered status and won multiple industry awards.
The business has 44 employees, including 22 advisers and paraplanners. On completion, Standard Life will have over 50 financial planners advising over 7,000 clients on around £2.0 billion of their assets.
Carl Lamb, Managing Director, will continue to head the business and will join 1825's Executive Committee.
Carl Lamb, Almary Green Managing Director, said: "The changing pension landscape and its inherent opportunities and risks have created a huge need for quality advice. As an industry, we need to bring advice to a wider audience and to change the advice model accordingly. Our challenge as a firm has been to scale up our business to meet the demand, ensuring we have the resources to provide cutting edge service and advice to clients and, at the same time, tackle the issues brought about by increasing regulatory requirements and costs. I truly believe that joining 1825 will give us the best foundation and resources to continue to rise to that challenge."
"A major factor is the breadth and depth of the 1825 client proposition, which has a strong focus on goal-based financial planning and positive client outcomes."
Steve Murray, 1825 CEO, said: "Today's announcement continues to accelerate our ambition to build a nationwide financial planning business of significant scale through organic growth and the acquisition of progressive financial planning firms who are aligned with our values and vision."
"Almary Green is a very welcome addition, bringing a team of talented, professional and dedicated individuals with a core focus on delivering positive outcomes for clients."
The transaction is expected to complete in the first half of 2016, subject to certain conditions being satisfied, including receipt of regulatory approvals.
For further information, contact:
Steve Hartley, Senior Media Affairs Manager
0131 245 1365
Brenda Gostling, Marketing Consultant
Notes to editors
• Standard Life launched 1825 in February 2015 in response to fundamental regulatory and market changes that are driving unprecedented client demand for financial planning.
• 1825 is a financial planning business with offices in Edinburgh, Leeds, Sheffield, Bishop Auckland and Reading.
• 1825 offers a full financial planning and personal tax advice service which is focused on client goals. Combined with a wide range of investment options, powered by globally renowned experts, and access to technology solutions, clients are able to access support how and when they need it.
• By understanding its customers, investing in technology and offering innovative solutions to meet clients' needs, 1825 is making it easier for people to plan their finances and feel more confident about the future.
• 1825 is wholly-owned by Standard Life plc and will grow to be a UK-wide financial planning business through organic growth and acquisition.
• To help clients find out more about financial planning, 1825 provides information at www.1825.com
• You can follow 1825 in the UK on twitter @1825
About Almary Green
• Almary Green is an award winning firm of independent financial advisers helping individuals and businesses throughout East Anglia and beyond.
• In November 2014 they were named Chartered Financial Planners of the Year 2014 by the industry's professional body, the Personal Finance Society.
• Almary Green has grown steadily over the years to become one of the larger firms of independent financial advisers in East Anglia. The administrative work is carried out in their offices in Norwich and Lowestoft but the advice team is located throughout the East Anglia region.
• Almary Green has won a number of other professional awards, including:
◦ Professional Adviser Awards’ Adviser Firm of the Year 2015
◦ Retirement Planner Awards 2015 and 2014.
◦ Money Marketing Awards Best Tax and Long Term Savings Adviser 2015 and 2013 and Best RDR Business Transition 2013.
◦ Financial Adviser Awards’ Group Pensions Adviser of the Year 2013.
◦ Moneyfacts Best Tax and Estate Planning Solution Provider 2013.
◦ Gold Standard for Independent Financial Advice in 2012, 2013, 2014 and 2015.