Sanlam Private Wealth (SPW) has acquired the client bank of Twickenham-based IFA Camilleri & Associates.
The purchase is part of SPW's strategy of acquiring the firms of advisers looking to exit the industry ahead of the retail distribution review (RDR).
The principal of Camilleri & Associates, Henry Camilleri, is set to retire.
Camilleri & Associates brings £52m of funds under influence (FUI), bringing SPW's total FUI to over £550m. No staff from the firm will join SPW.
"We remain on the look-out for more quality businesses and we hope to complete on further acquisitions in the very near future," said SPW chief executive officer Nigel Speirs (pictured).
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