Standard Life Aberdeen’s 1825 buys BDO wealth unit in NI

Standard Life Aberdeen's financial planning and advice business 1825 is expanding into the North with the acquisition of BDO Northern Ireland's wealth management division,which has assets under advice valued at £230 million.

BDO Northern Ireland’s wealth management arm has been in business for more than 25 years and provides a range of services from wealth planning to corporate, personal and trust advice. It has developed a reputation for working closely with many of the North’s biggest family-owned firms.

It marks the first acquisition in the North for 1825, which was launched four years ago by Edinburgh headquartered Standard Life Aberdeen group in response to a "growing demand for financial advice".

Mike Cullinane, regional managing director, 1825, northwest, said he was delighted the financial planning business was extending its "geographical reach" into Northern Ireland and bringing on board 12 former BDO employees in the North.

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“We have many shared values on the importance of good financial advice and doing the best for our clients,” he said.

The financial details of the acquisition were not disclosed but the company said, once the deal completes in July, the business will become 1825 Northern Ireland and will continue to have a regional office in Belfast city centre.

Nigel Harra, senior partner at BDO Northern Ireland, said 1825's move is a "tremendous boost of confidence in the Northern Ireland market".