Standard Life’s financial planning business 1825 said on Tuesday it agreed to acquire Norwich-based independent financial advisers Almary Green, which has assets under advice of around £400 million.

Standard Life launched 1825 in February last year in response to regulatory and market changes that are driving demand from clients for advice.

Almary Green provides advice to 1,900 clients and was founded by industry expert Carl Lamb in 2001.

When the deal is completed, Standard Life will have more than 50 financial planners advising over 7,000 clients on around £2 billion of assets.

Lamb, Managing Director, will continue to head the business and will join 1825’s executive committee.

“The changing pension landscape and its inherent opportunities and risks have created a huge need for quality advice,” said Lamb.

“As an industry, we need to bring advice to a wider audience and to change the advice model accordingly.

“Our challenge as a firm has been to scale up our business to meet the demand, ensuring we have the resources to provide cutting edge service and advice to clients and, at the same time, tackle the issues brought about by increasing regulatory requirements and costs.

“I truly believe that joining 1825 will give us the best foundation and resources to continue to rise to that challenge.”

1825 chief executive Steve Murray said: “Today’s announcement continues to accelerate our ambition to build a nationwide financial planning business of significant scale through organic growth and the acquisition of progressive financial planning firms who are aligned with our values and vision.”