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).
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected