Charles Russell Speechlys advises Grant Thornton UK LLP on the sale of their wealth advisory business to 1825
Charles Russell Speechlys has advised Grant Thornton UK LLP on the sale of their wealth advisory business to 1825, Standard Life’s wholly owned financial planning and advice business. Grant Thornton’s wealth advisory business has over 100 employees, including 34 financial planners, and assets under advice of approximately £1.7bn. This marks a significant step for 1825 to become one of the leading providers in the UK. The deal is expected to complete in Q4, 2019.
Dave Dunckley, CEO of Grant Thornton UK LLP, commented: “As we increase our focus on our strategy to provide high quality audit, tax and advisory services to our core markets, it is clear the wealth advisory team’s growth potential would be best delivered by a business focused solely on the financial advice market.”
“The team’s clients will undoubtedly be better served through 1825’s approach and proposition, with the businesses sharing a natural alignment in values and goals, so it makes practical sense for the team to be in an environment in which it can flourish. We wish Neil and the team continued success into the future.”
David Hicks, Corporate Partner and financial services sector specialist at Charles Russell Speechlys, commented: “We were delighted to work with Grant Thornton on this project, with whom we also share numerous clients and work alongside on various mandates. This is part of Grant Thornton’s strategy for their wider business, and we are proud to have been able to support them in delivering on that strategy.”
The deal was led by Corporate Partner and financial services sector specialist David Hicks, together with a team from across the Firm including Senior Corporate Associate Charlie Ring and Associate Alex Stevens, Financial Services Regulatory Partner Jonathan Bayliss and Senior Associate Vanessa Walters, Employment specialist Legal Director Anne-Marie Balfour, IP and Data Protection specialist Senior Associate Chris Ingram and Real Estate Partner Sarah Morley and Associate Will Harwood.
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