Aberdeen Group has agreed to divest its financial planning unit, Aberdeen Financial Planning, to Ascot Lloyd. The deal’s financial specifics are undisclosed, but Aberdeen will continue to provide its Wrap platform from the Adviser business. The transaction excludes Aberdeen’s Private Client Services unit, which remains under its control.

Dyer Baade and Company served as Aberdeen’s financial advisor, with Pinsent Masons as external legal counsel for the divestment. Aberdeen Financial Planning, initially established under Standard Life in 2015 as 1825, underwent a rebranding in 2021 and integrated into interactive investor in January 2024.

Interactive investor is the UK’s direct-to-consumer investment platform. Aberdeen Group CEO Jason Windsor emphasized the move as a step toward becoming the UK’s leading Wealth and Investments group, focusing on core businesses for growth and performance improvement.

Ascot Lloyd CEO Francis Jackson views the acquisition of Aberdeen Financial Planning as a significant milestone, praising the experienced leadership team and advisers. He believes the business aligns well with Ascot Lloyd’s growth plans, emphasizing a commitment to delivering excellent financial planning and advice.

Read more at Yahoo Finance: Aberdeen Group to divest financial planning arm to Ascot Lloyd