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Sanlam acquires two more IFA businesses

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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 advice and Berkeley Associates, a firm with over 450 clients and £26m in advised assets.

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.

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Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. The BIG question about this type of consolidation is what happens to the support staff?

    Under TUPE the buyer have an obligation to take on the employees of these firms.

    Im sure that Sanlam would be happy to confirm this?

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