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June 6, 2019

Grant Thornton to sell wealth adviser to 1825 – reports

Grant Thornton is reported to be about to sell its wealth management arm for around £30m ($38.2m) to Standard Life Aberdeen’s financial advisory business 1825. Such a deal would mean the transfer to 1825 of approximately 100 staff, including a small number of partners and some 30 financial advisers.

News of the transaction was first reported on Sky News. Both firms have declined to comment on the report. Sky News suggested that the transaction would be a "more significant" deal than the price tag suggested, because of the "implied consequences" for the future of both firms.

1825 has expanded through the acquisition of a number of financial advisory firms. Pearson Jones was the founding partner, launching the brand in 2015. Its most recent acquisition, in March 2019, was BDO Northern Ireland’s wealth management business.

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