Standard Life’s financial planning business, 1825, is planning to acquire Norwich-based advisory firm Almary Green, which has assets under advice of around £400m.

Founded by Carl Lamb in 2001, Almary Green has 1,900 clients and advises on £400m of assets. The firm serves the East Anglian region, has 44 employees, including 22 advisers and paraplanners.

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Following the acquisition, Standard Life will house more than 50 financial planners advising 7,000 clients on about £2bn of assets.

As part of the deal, managing director Lamb will continue to operate the business and will join 1825’s executive committee.

The deal is scheduled to close in the first half of 2016, subject to certain conditions being satisfied, including receipt of regulatory approvals.

1825 has been launched February 2015 in response to fundamental regulatory and market changes that are driving demand for advice from clients.

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Lamb said: "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.

"A major factor is the breadth and depth of the 1825 client proposition, which has a strong focus on goal-based financial planning and positive client outcomes."

1825 CEO Steve Murray: "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."