This comes several weeks after the company refused to comment on reports it was to acquire the UK wealth business.
The deal will see over 100 employees, including 34 financial planners, join 1825.
Led by Neil Messenger, Grant Thornton’s wealth advisory team provides advice on all aspects of financial planning; including family and business finance.
As well as the UK-wide financial planning team, it has two client support centres in Belfast and Sheffield.
Julie Scott, chief executive of 1825, said: “Today’s announcement significantly accelerates 1825’s growth plans and gives us a broader UK-wide presence.
“Demand for high-quality financial planning and advice continues to grow and with over 110 financial planners we will be well-placed to help more people access advice.”
The deal is expected to complete in Q4 2019 and the financial terms of the transaction remain undisclosed.
1825’s M&A spree
As at 31 December 2018, 1825 had assets under advice of £4bn ($5.1bn, €4.7bn).
It announced its seventh acquisition in March this year, when it bought BDO Northern Ireland’s wealth management arm.
Previous acquisitions include:
- North-east (Pearson Jones – May 2015);
- Scotland (Munro Partnership – July 2016);
- London (Baigrie Davies – Aug 2016);
- North-west (Jones Sheridan – Nov 2016);
- South-west (Fraser Heath – March 2018); and
- London (Cumberland Place – April 2018).
However, its acquisition ambitions suffered a set back when 1825 tried to acquire Almary Green.
Based in Norwich, discussions to buy the independent advice firm were ended by “mutual agreement” in September 2016.
Elsewhere, wealth manager AFH has completed its acquisition of Hertfordshire-based AE Garment Independent Financial Services, in a deal worth £1.7m.
This comes days after the firm said it is looking to raise up to £20m to fund its acquisition pipeline.
AE Garment offers wealth services to a broad range of high net worth clients, including business owners and entrepreneurs involved in the sports, media and entertainment sectors.
Company director Tony Garment will retire after the deal is complete, and his client base of more than 200 clients will move to existing AFH advisers.
Alan Hudson, chief executive of AFH, said: “Our fifth acquisition of the year strengthens our position in the home counties and underlines our commitment to growth.
“At the same time, we are helping retiring independent financial advisers to find the right home for their clients.”
AFH has paid an initial cash fee of £880,000 to buy AE Garment Independent Financial Services.
Two further payments worth up to £880,000 will be due over the following 26 months depending on AE Garment Ltd meeting performance targets set by AFH.