Sanlam Private Wealth (SPW) has acquired three advisory firms, bringing in a combined £75m in funds under advice.
The firms has acquired Oakdene Practice in Bristol, Parkgate Financial Solutions in Warrington and Libra Associates in Dorset. The firm's regulated advisers - six in total spread across the businesses - plan to exit the industry before the end of the year. The acquisitions will provide SWM with £450,000 in yearly trail income and £75m in funds under investment, in addition to the £650m Sanlam currently manages. Sanlam said it will actively service 650 clients as a result of the agreement, which chief executive Nigel Speirs (pictured) said would involve seeing them once or twice a ...
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