Sanlam UK says it has received a large number of responses from adviser firms since mapping out expansion plans last month and is currently working on two deals.
The UK arm of the South African group set out a growth strategy in January built around partnering 40 IFAs by 2012 and chief executive Lukas van der Walt says a number of firms have expressed an interest.
"We have had a large number of responses from IFAs, they are coming in day by day," says van der Walt. "A lot of IFAs are in need of capital and really need to do something about their business models in the run up to the RDR."
"We are currently working on two small transactions and hope to release more details soon."
The company is looking to forge relationships with traditional adviser firms coming under pressure from regulatory changes by offering distribution models and promoting RDR-friendly platforms.
"I think IFA firms are going through a very difficult time as they try to set up sustainable business models with rising capital requirements and we can help these firms by partnering them.
Van der Walt says the focus of the growth strategy is about finding the right kind of firms to partner.
"We are quite selective about what firms we speak to and, in terms of size, big is not necessarily better. We are quite circumspective about who we engage with."
Sanlam's expansion drive will see the firm build on its presence in the UK financial services industry following the acquisition of Merchant Investors in 2004 and Welsh IFA Buckles in 2008.
The company also has a 42.5% stake in Nucleus wrap, a 92% holding in investment management firm Principal and a 28% stake in Intrinsic.
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