Sanlam Private Wealth has acquired the client bank of two more financial planning companies as part of its drive to increase its presence in the UK.
The two firms are Safetrend, which traded as Professional Connection, and Berkeley Associates Financial Planning.
Professional Connection had offices in Plymouth and Exeter, looked after more than 500 clients with £71m under influence. Terry Chandler, the owner of the business, is retiring from the industry but will be working with Sanlam Private Wealth during the transition.
Berkeley Associates, based in south Gloucestershire has 450 clients based in Bristol and the South West with £26m funds under management. Owner and advisers Mike Sutton and Harry Shepard are also retiring but will remain close to the business during the hand over.
The clients from both acquired businesses will be looked after by advisers based in Sanlam's Bristol head office.
Head of marketing at Sanlam UK, Giles Cross, said: "Sanlam will continue to offer owners of financial advisory businesses looking to leave the industry with a secure, reliable exit strategy.
"Interestingly, in recent months, we have noticed a rise, not only in enquiries from retiring practitioners, but also from advisers looking to remain in the industry.
"We welcome all enquiries from those who are either looking to either sell their businesses or align their interests with us".
These two new acquisitions are in addition to ten made by Sanlam Private Wealth in 2012.
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