The UK financial services group is building a presence in Scotland.

1825, Standard Life's financial planning business that was launched in 2015, has established a Scottish presence by acquiring financial advisors Munro Partnership.

The transaction is expected to be completed by the end of July 2016, subject to certain conditions being satisfied, including receipt of regulatory approvals. The purchase price was not disclosed.

With over £600 million ($863 million) of assets under advice, Munro Partnership will form 1825’s Scottish regional office, from where the business will build out across Scotland.

Munro Partnership’s chairman, Stephen Munro, and the directors, led by managing director, David Hughes, will remain with the business after the acquisition. Hughes will be responsible for building 1825’s regional office and will join the 1825 executive committee.

The expansion follows the firm's acquisition of Pearson Jones in May 2015 and last week’s agreement to acquire Norwich-based Almary Green. 

On completion of the acquisitions of Munro Partnership and Almary Green, Standard Life will have 59 financial planners advising 8,700 clients on over £2.6 billion of assets.

“Having access to the resources of a national financial-planning business will ensure our clients will benefit from leading financial planning services and innovative investment solutions, which will continue to evolve as their needs and the world around us changes,” said Hughes.

Munro Partnership was established in 1982 and has 28 employees. The firm offers a range of services from working with individuals on personal financial matters to assisting companies with employee benefits packages and other corporate services. The business also has a dedicated advice proposition for charities and trusts.