The news follows the acquisition by 1825 of Pearson Jones in May 2015 and last week’s agreement to acquire Almary Green based in Norwich for an estimated £7m to £10m.

On completion of the acquisitions of Munro Partnership Limited and Almary Green, Standard Life says it will have 59 Financial Planners advising 8,700 clients on over £2.6bn of their assets. 1825 now has offices in Edinburgh, Leeds, Sheffield, Bishop Auckland and Reading.

Munro, which has assets under advice of over £600 million, was established in 1982 and has grown to become an expanding firm of Chartered Financial Planners, growing from one office in Ayr to Glasgow and Hamilton. It will form 1825’s Scottish Regional Office, from which the business will build across Scotland, says Standard Life.

Munro Partnership is a corporate and wealth management advice business. Built up over 30 years, it offers a range of services from working with individuals on personal financial matters to assisting Scottish and national companies with their employee benefits packages and other corporate services. The business also has a dedicated advice proposition for charities and trusts. The partnership has 28 employees – eight professionally qualified Financial Planners who provide high quality advice, assisted by five Paraplanners and 15 support staff.

Munro Partnership’s chairman Stephen Munro, and the directors led by managing director David Hughes, will remain with the business post acquisition. Mr Hughes will be responsible for building 1825’s Scottish Regional Office and will join the 1825 executive committee.

Mr Hughes said: “Joining 1825 is an exciting phase in the development of our business and one which will bring increased benefits to both our employees and our clients.

“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.

“Importantly, both 1825 and Munro Partnership are focused on developing their people and joining 1825 will ensure our employees have even more opportunities to progress and develop personally”.

Steve Murray, 1825 chief executive, said: “We have a long-standing relationship with Munro Partnership and look forward to their highly skilled team playing a key role in broadening 1825’s reach into Scotland.

“Their reputation in the corporate and wealth management advice markets, coupled with their clear focus on bringing new talent into the industry through their graduate trainee programme, makes the business an excellent fit for us, bringing additional capabilities which will be invaluable.

“I’m delighted to welcome them to 1825 and I’m also delighted with our continued progress with building a leading, modern Financial Planning business.”

The transaction is expected to complete by the end of July, subject to certain conditions being satisfied, including receipt of regulatory approvals.