Aberdeen Group plc has agreed to sell its financial planning business, Aberdeen Financial Planning, to Ascot Lloyd, a national financial advice and planning firm.
Aberdeen will keep working with Ascot Lloyd by providing its Wrap platform from the adviser business and looking at investment solutions.
Jason Windsor, group CEO at Aberdeen, said: “Today marks another step forward in our efforts to simplify our business so that we can focus on our ambition to become the UK’s leading Wealth and Investments group.
“We have three core businesses, interactive investor, Adviser and Investments, all with clear plans for growth, and these actions are part of our drive to improve performance and execute on our plan.”
Francis Jackson, CEO at Ascot Lloyd, said: “The acquisition of Aberdeen Financial Planning marks a major milestone on the Ascot Lloyd journey.
“The leadership team and advisers we encountered are highly experienced, skilled professionals who will integrate well into the culture at Ascot Lloyd.
“At the heart of the business we found a team who are committed and focused on the delivery of excellent financial planning and advice and believe the business to be a great fit for Ascot Lloyd, supporting our ambitious growth plans in the market.”
