Standard Life Aberdeen’s financial planning arm, 1825, is set to complete its first acquisition in Northern Ireland in a deal which will see £230m of assets under advice brought into the business.
The acquisition of BDO Northern Ireland’s wealth management arm is due to complete in July, with the business to be rebranded as 1825 Northern Ireland.
BDO Northern Ireland is based in Belfast and has 12 employees, including four financial planners, and will bring the total number of financial planners at 1825 to 90.
Mike Cullinane, regional managing director at 1825 North West, said: "I’m delighted 1825 has extended its geographical reach and that we will now have a presence in Northern Ireland.
"I welcome the BDO NI wealth management team to 1825 North West region. We have many shared values on the importance of good financial advice and doing the best for our clients."
This will be 1825’s seventh acquisition since it launched four years ago.
Most recently the advice arm bought London-based Cumberland Place Financial Management Ltd ,with assets under advice of £400m.
Nigel Harra, senior partner at BDO Northern Ireland, said: "Today’s announcement is a tremendous boost of confidence in the Northern Ireland market and in our wealth management team at BDO NI.
"We are thrilled to be working with 1825 as they also share our focus on putting the client first and providing them with a dedicated, bespoke service."