Aberdeen has sold its financial planning business to Ascot Lloyd as part of its plan to streamline its operations.
The deal sees 6,300 clients move to Ascot Lloyd, with the national advice business adding £3.6bn of assets under advice (AUA). Ascot Lloyd said the deal brought total clients to 44,000 and AUA to £14.5bn. Some 60 advisers will also join the firm, taking the total headcount to more than 220. Aberdeen Financial Planning, formerly known as 1825, was set up as part of Standard Life in 2015 and subsequently built up through a series of acquisitions. Aberdeen and Standard Life merged in 2017. The financial planning business was renamed in 2021 and then moved to sit within Interactive Inv...
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