Standard’s 1825 buys Almary Green

Carl Lamb, Almary Green1825, Standard Life’s wholly-owned financial planning business, is buying East Anglian adviser Almary Green for an undisclosed fee.

Almary Green, which provides personal advice to 1,900 clients and brings assets under advice of around £400m into the business, was founded by Carl Lamb in 2001.

The firm, which is headquartered in Norwich, has achieved chartered status and won numerous industry awards.

Standard Life launched 1825 in February 2015. The business has 44 employees, including 22 advisers and paraplanners. On completion, Standard Life will have over 50 financial planners advising over 7,000 clients on around £2.0 billion of their assets.

Carl Lamb, managing director, will continue to head the business and will join 1825’s executive committee.

The transaction is expected to complete in the first half of 2016, subject to certain conditions being satisfied, including receipt of regulatory approvals.

Lamb says: “The changing pension landscape and its inherent opportunities and risks have created a huge need for quality advice.  As an industry, we need to bring advice to a wider audience and to change the advice model accordingly.   Our challenge as a firm has been to scale up our business to meet the demand, ensuring we have the resources to provide cutting edge service and advice to clients and, at the same time, tackle the issues brought about by increasing regulatory requirements and costs.  I truly believe that joining 1825 will give us the best foundation and resources to continue to rise to that challenge.

“A major factor is the breadth and depth of the 1825 client proposition, which has a strong focus on goal-based financial planning and positive client outcomes.”

1825 CEO Steve Murray says: “Today’s announcement continues to accelerate our ambition to build a nationwide financial planning business of significant scale through organic growth and the acquisition of progressive financial planning firms who are aligned with our values and vision.

“Almary Green is a very welcome addition, bringing a team of talented, professional and dedicated individuals with a core focus on delivering positive outcomes for clients.”