British insurer and pension fund manager Standard Life has announced it will seek a toehold in the UK financial advice market via the acquisition of Pearson Jones.
In a statement on the financial planning firm’s website, Pearson Jones managing director Tim Johnson said the acquisition by the FTSE 100 life company will provide attractive resources for its advisers and clients.
“Pearson Jones will be integral to the creation of a new, high-quality, nationwide financial advice business under the Standard Life umbrella,” the statement said.
“In turn, Pearson Jones will be able to tap into Standard Life’s technical and investment expertise to support the breadth and depth of advice we deliver to our clients.”
The statement indicated that there will be no “immediate change” from the perspective of Pearson Jones clients.
“Pearson Jones has provided quality financial advice for 40 years and we are excited about the great opportunities that lie ahead for the business as part of the Standard Life group,” it added.
A spokesperson for Standard Life Investments said the deal is “UK specific” and “does not impact the Australian business”.
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