STANDARD Life’s financial planning business, 1825, has agreed to acquire Bristol-based Fraser Heath Financial Management, which has assets under advice of £352 million.

The Edinburgh company said the deal would “establish 1825’s south-west regional office with 23 employees”.

Fraser Heath, formed 15 years ago, offers a tailored service in wealth management, retirement planning and workplace pensions.

After the deal is completed, 1825 will have more than 70 financial planners, advising around 8,500 clients on about £3.7 billion of their assets.