Standard Life has acquired British advice firm Pearson Jones from Skipton Building Society to make a foray into the UK financial advice business.
The acquisition of Pearson Jones will add assets under advice of £1.1bn, a workforce of 102, and a total of 39 advisers and paraplanners to Standard Life’s portfolio.
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The deal is scheduled to be completed by the second quarter of this year.
Standard Life has also launched its wholly-owned, UK-wide, financial advice business, in response to fundamental changes driving unprecedented demand for advice from customers.
The new entity will build on Standard Life’s advice and guidance capabilities on the phone and online, as well as will leverage the investment expertise of Standard Life Investments and Standard Life’s platform proposition.
The business will help recruit and train people for a career in financial advice through the creation of a new academy. Threesixty will deliver compliance and support services to the new business.
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By GlobalDataThe new business will be led by Steve Murray as chief executive. Murray has earlier developed the UK advice and distribution strategy for Standard Life.
