Standard Life’s Financial Planning division 1825 is to acquire Cumberland Place Financial Management in London, a Chartered Financial Planning firm with assets under advice of £400m.

Cumberland Place is based at Holborn Circus in central London and specialises in all aspects of Financial Planning advice and also offers a discretionary investment management service.

1825 says the acquisition will strengthen 1825’s London presence with the addition of 21 employees including six Financial Planners, three Paraplanners and three investment analysts.

On completion, 1825 will have over 75 Financial Planners, advising around 9,000 clients on over £4bn of assets.

Cumberland Place Financial Management two founding directors, Tony Moss and Robert Goldschmidt, will continue to run the business post completion.

Mr Moss, director at Cumberland Place, said: “We have built a strong business over 15 years by putting the client at the forefront of everything we do. 1825 share these values and I am confident that this acquisition will be a tremendous success, allowing us to build on our existing foundations and provide additional resource and expertise to our clients.

“We are delighted to become part of 1825 which will provide our clients with a fantastic service proposition as well as enhanced career opportunities for our employees.”

Julie Scott, 1825 chief executive, said: “I’m excited to welcome Cumberland Place Financial Management Ltd to 1825, they are a fantastic addition to the team. We have a strong connection as we are both passionate about the client and doing the right thing.

“As the demand for financial advice continues to grow in the UK we want to be able to offer the best service and proposition possible with a great set of experts to support them.”

The transaction is expected to complete in the second half of 2018 subject to certain conditions being satisfied, including receipt of regulatory approvals.