Sanlam Private Wealth has acquired two new IFA businesses for an undisclosed sum.
The firm has bought Professional Connection, which has 500 clients and £71m under influence, and Berkeley Associates, a firm with over 450 clients and £26m in funds under management.
Sanlam UK head of marketing Giles Cross says: “Sanlam will continue to offer owners of financial advisory businesses looking to leave the industry with a secure, reliable exit strategy.
“We welcome all enquiries from those who are either looking to sell their businesses or align their interests with us.”
Sanlam made a number of acquisitions in 2012. In January it acquired the client banks of Llanelli-based Brian D Thomas Financial Planning Services and Kent-based firm George Ognibeni. In May it acquired the client bank of IFA firm Camilleri & Associates and in August the company bought English Mutual, a firm with 43 advisers and assets under advice of around £400m.