The deal will allow the financial planning business to establish a presence in London.

1825, part of UK-listed Standard Life, has agreed to acquire Baigrie Davies, a London-based firm with around £400 million ($568 million) in assets under advice, for an undisclosed sum. 

In March, 1825, which was launched by Standard Life early last year, agreed to acquire Almary Green in Norwich and Munro Partnership in Scotland. Baigrie Davies will form 1825’s London regional office, with 30 employees, including 11 financial planners and 5 paraplanners.

On completion of this acquisition and those of Almary Green and Munro Partnership, Standard Life will have 70 financial planners advising 9,400 clients on £3 billion of their assets.

Baigrie Davies has a financial planning division dedicated to private individuals and their families and a corporate services unit serving employers and their workforces.

The firm's managing director, Ian Howe, will continue to run the business and will join the 1825 executive committee. Founder Arthur Davies will also remain with the firm. His co-founder, Tom Baigrie, will leave to focus on his other business, LifeSearch, a protection broker.

Following the acquisition, which is expected to complete in the third quarter of this year, 1825 will have a presence in London. The firm already has offices in Edinburgh, Leeds, Sheffield, Bishop Auckland and Reading.

“Establishing a further presence in London is important to our ambition of building a financial planning business of significant scale so we’re delighted to welcome the Baigrie Davies team to 1825,” said Steve Murray, chief executive at 1825.