Deal comes after Standard Life Aberdeen announced 19.9% profit to £487m from £584m in 2019

Standard Life Aberdeen has sold its financial advisory business Parmenion to private equity firm Preservation Capital Partners in a deal worth £102m.

Parmenion, which Standard Life Aberdeen put up for sale in November, manages more than £8bn in assets on behalf of approximately 2,500 advisers, with more than 68,000 clients.

Standard Life Aberdeen strikes £102m deal for Parmenion

David Ricketts

Standard Life Aberdeen

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