Finance adviser makes second acquisiton in three months
A financial planning and advice business owned by Standard Life Aberdeen has acquired its second Northern Ireland wealth advisory business in just three months.
In March, 1825 added BDO Northern Ireland's wealth management division and its 12 staff to its 10 UK offices.
Now the Standard Life entity has acquired Grant Thornton's 100 employee-strong wealth advisory business, its eighth and largest acquisition since 1825 was launched four years ago.
The division offers advice on all aspects of financial planning including family and business finance.
The takeover includes Grant Thornton's client support centre in Belfast, which has 16 staff.
The cost of the deal is undisclosed, however, the transaction is expected to be completed in the final quarter of 2019.
Announcing its latest acquisition, 1825 chief executive Julie Scott said the Grant Thornton move "significantly accelerates 1825's growth plans and gives us a broader UK-wide presence" .
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She added: "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, Grant Thornton's chief executive in the UK, added: "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."