1825, Standard Life Aberdeen’s wholly owned financial planning and advice business, has announced it has entered into an agreement to acquire the wealth management arm of BDO Northern Ireland. Established over 25 years ago, the wealth management division has assets under advice of c. £230m.
BDO Northern Ireland’s wealth management team specialises in all aspects of wealth planning and support from corporate to personal and trust advice. On completion, the business will be known as 1825 Northern Ireland, with its office remaining in Belfast city centre. It will form part of 1825 North West region, headed up by Mike Cullinane.
This is 1825’s first acquisition in Northern Ireland with 12 employees, including four financial planners, joining the team.
Nigel Harra, Senior Partner at BDO Northern Ireland, said: “Today’s announcement is a tremendous boost of confidence in the Northern Ireland market and in our wealth management team at BDO NI. We are thrilled to be working with 1825 as they also share our focus on putting the client first and providing them with a dedicated, bespoke service.
This investment and 1825’s shared client-focused approach, along with the ongoing local leadership of Carol Malcolmson, provides the team with the opportunity for further growth and development, and as a spring-board for continuing success.”
Mike Cullinane, Regional Managing Director, 1825, North West, said: “I’m delighted 1825 has extended its geographical reach and that we will now have a presence in Northern Ireland. I welcome the BDO NI wealth management team to 1825 North West region. We have many shared values on the importance of good financial advice and doing the best for our clients.
“It’s four years since we launched 1825 in response to the growing demand for financial advice. We remain focused on growing 1825 and helping our clients plan for a better future”.
The deal is expected to complete on 1 July 2019.