Sanlam Private Wealth is on the verge of acquiring three IFA businesses as its growth strategy of purchasing the client books of retiring advisers gathers pace.
The three firms, based in the South of England, will add a total of £60m in assets under influence and bring to 24 the number of companies the Rhyl-based firm has acquired. The acquisitions, funded by parent company Sanlam UK, are expected to be completed this month. "These firms are typically owned by people who have been in the industry for 20 or 30 years and have decided to leave in advance of the retail distribution review (RDR),"said chief executive Nigel Speirs (pictured). "There is quite a rush of people deciding to exit." Following completion of the three deals, Sanlam Priv...
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