Sanlam has acquired advice firm Grennan Advisers, which has £60m in assets under management.
East Yorkshire-based Grennan was launched five years ago by Stuart Grennan and Helen Chapman and specialises in providing financial advice services to high net worth clients and business executives.
Sanlam chief executive John White says: “Grennan Advisers is a high-quality business with an ethos of providing excellent service and delivering clients’ long-term financial ambitions. As such, it very much reflects our approach at Sanlam.”
The purchase of Grennan follows Sanlam’s acquisition of 158-adviser network, Tavistock last August.
South African-listed Sanlam is working to build a bigger advice presence in the UK and in 2016 restructured its business to house Sanlam Private Wealth and Sanlam Wealth Planning under a new division, Sanlam Partners, which took on Tavistock as well.
Money Marketing understands Sanlam is well-positioned to purchase IFG Group’s wealth arm, Saunderson House, and is a likely candidate to do so after the businesses went on sale three weeks ago.