Aberdeen has agreed to sell Aberdeen Financial Planning to Ascot Lloyd for an undisclosed sum.

Aberdeen Financial Planning, formerly 1825, was set up as part of Standard Life plc in 2015 and subsequently built up through a series of acquisitions. The business was renamed in 2021 and then moved to sit within Interactive Investor in January 2024.

It has around 150 advisers based across the UK.

It is separate from Aberdeen’s adviser business which provides solutions and technology to UK advisers.

As part of the deal Ascot Lloyd will continue to partner with Aberdeen with use of its wrap platform and investment solutions.

The private client services team from Aberdeen Financial Planning is not included in the sale, and will remain with Aberdeen.

Ascot Lloyd CEO, Francis Jackson, called the purchase a “major milestone” for the company.

He added: “The leadership team and advisers we encountered are highly experienced, skilled professionals who will integrate well into the culture at Ascot Lloyd.

“At the heart of the business we found a team who are committed and focused on the delivery of excellent financial planning and advice and believe the business to be a great fit for Ascot Lloyd, supporting our ambitious growth plans in the market”.

Jason Windsor, CEO of the Aberdeen Group, said: “Today marks another step forward in our efforts to simplify our business so that we can focus on our ambition to become the UK’s leading wealth and investments group.

“We have three core businesses, Interactive Investor, adviser and investments, all with clear plans for growth, and these actions are part of our drive to improve performance and execute on our plan.”

Richard Wilson, CEO of Interactive Investor (part of Aberdeen), said: “While we ultimately concluded that the face-to-face holistic financial advice model is not the best fit with the Interactive Investor digital platform, we are confident it is well placed to thrive under Ascot Lloyd’s ownership, with a positive cultural fit and a track record of client service through a national organisation of 150 advisers.”

 

If you are looking to sell your business, find out more about the selling your business to  Ascot Lloyd(or others) Gunner & Co. can help you. Book a meeting with our Head of Brokerage Gwill here