Almary Green and 1825 halt acquisition

Standard Life will no longer pursue the acquisition of Almary Green, for its restricted national advice firm 1825, according to a statement released today.
The statement comes days after it was reported more than 50% of Almary Green’s advisers had quit over the prospect of going restricted. Standard Life stated that, ‘it has not proved possible for both parties to reach agreement to complete the proposed acquisition. ‘And that both parties ‘mutually agreed to end discussions at this time’.
Chief exec of 1825, Steve Murray, said: ‘We wish Almary Green all the best and continued success. 1825 continues to focus on building a UK-wide financial planning business and we see huge opportunities. The acquisitions of Pearson Jones, Baigrie Davies and Munro Partnership are complete and Jones Sheridan continues to progress positively.
Carl Lamb (pictured), MD of Almary Green said: ‘In the interests of certainty for our clients and staff we have agreed with 1825 to end discussions at this time. We remain focused on delivering a high quality service to our clients.’