Standard Life-owned financial planning business – 1825 – has acquired Bristol-based Fraser Heath Financial Management for an undisclosed sum.

The acquisition will allow 1825 to establish its South West regional office with 23 employees, including seven planners and five para-planners.

Fraser Heath’s leadership team of Jim Collier, Alan Loomes and Mark Fletcher will continue to work with the firm post completion.

Collier will serve as the managing director for the South West regional office and will join the 1825 executive committee.

Collier said: “In coming to this decision, we’ve undertaken a full due diligence process on 1825 and through this we’ve found that we share a number of core beliefs, including a focus on long-lasting client relationships, a similar culture and comparable investment solutions.

“We’re also looking forward to benefiting from being part of a larger group, from sharing and accessing resource, to further development of our people and fantastic career opportunities.”

Fraser Heath was founded in 2002 and offers services in wealth management, retirement planning and workplace pensions. It has £352m assets under management.

Upon closing, 1825 will have 70 financial planners advising 8,500 clients on around £3.7bn assets.

The deal is slated to be completed in Q1 2018, subject to certain conditions and regulatory approval.