Standard Life completes purchase of Pearson Jones in £1bn advice play

Standard Life has completed the acquisition of wealth manager Pearson Jones from Skipton Building Society, a move which represents its return to offering financial advice.

The life company, which as recently as 2010 owned stakes in two advisory firms but sold them, has purchased 100% of the issued share capital of the Chartered business, which has offices in Leeds, Sheffield, Bishop Auckland, and Reading. Standard Life had already announced its new advisory proposition, which will offer restricted advice, will be called 1825, in reference to the year the life company was founded. The acquisition of Pearson Jones for an undisclosed sum will bring in assets under advice of £1.1bn as well as a total of 39 advisers and paraplanners. Related reading: 'I...