Standard Life’s 1825 acquires London Chartered firm
3 January 2018
1825, Standard Life’s wholly-owned financial planning business, has entered into an agreement to acquire Cumberland Place Financial Management Ltd.
Cumberland Place is a Chartered Financial Planning firm with assets under advice of around £400m, specialising in all aspects of advice as well as offering a discretionary investment management service.
The firm’s 21 employees, including six financial planners, three paraplanners, and three investment analysts, transfer across to 1825.
Completion of the acquisition means 1825 will have over 75 financial planners, advising around 9,000 clients on over £4bn of their assets.
Cumberland Place’s two founding directors, Tony Moss and Robert Goldschmidt, will continue to run the business post completion.
Julie Scott, 1825 CEO, said: “I’m excited to welcome Cumberland Place Financial Management Ltd to 1825, they are a fantastic addition to the team. We have a strong connection as we are both passionate about the client and doing the right thing. As the demand for financial advice continues to grow in the UK we want to be able to offer the best service and proposition possible with a great set of experts to support them.”
The transaction is expected to complete in H1 2018 subject to certain conditions being satisfied, including receipt of regulatory approvals.
A recent decision by the FOS to uphold a complaint against Intrinsic Financial Planning highlights several issues with how...
Defined benefit (DB) transfers remain topical and the Financial Conduct Authority (FCA) continue to find problems in this market....
In our last Parameters survey we asked paraplanners to name the business and non-business book they would recommend to...