Standard Life has completed the purchase of British wealth manager Pearson Jones from Skipton Building Society.
Standard Life has bought 100% of the issued share capital of Pearson Jones, which operates with offices in Leeds, Sheffield, Bishop Auckland, and Reading.
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Standard Life’s new advisory proposition, named 1825, will deliver restricted advice. Advisers of 1825 will be restricted to using Standard Life’s wrap platform.
Steve Murray, managing director of advice and strategy at Standard Life, will spearhead the life company’s advice business as CEO.
"1825 shares a vision of helping build a more prosperous world. It’s never been more complex for people to save, retire and plan for the future, so quality financial advice has become a must-have for many.
"By cutting through the complexity, we are aiming to help our customers better understand their financial situation to achieve their aspirations and goals," said Murray.
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By GlobalDataThe acquisition of Pearson Jones will add assets under advice of £1.1bn to Standard Life, and 102 employees including 39 advisers and paraplanners.
