Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/new-model-adviser/article/a628941
Sanlam boosts assets by £77m with three more acquisitions
by Rachael Revesz on Oct 24, 2012 at 09:52
National financial advice firm Sanlam Private Wealth has acquired three client books, boosting assets under advice by £77 million.
Sanlam has acquired Gloucestershire-based Stratton Annette’s, Swansea-based Sheriton Financial Services, and a third unnamed firm based in the South West.
The South African-owned national will gain 160 clients and £27 million in assets through the purchase of Stratton Annette’s, and £25 million from Sheriton Financial Services, which was formerly part of collapsed network Burns Anderson.
The acquisition of a third unnamed firm will see Sanlam’s assets boosted by a further £25 million, and take on an adviser.
Nigel Speirs (pictured), head of Sanlam Private Wealth, said the firm was targeting £6 billion in assets under management by 2017, and 300 advisers.
He said Sanlam Private Wealth currently has around 100 advisers, with £300 million under management and £300 million under advice.
Speirs said Sanlam would continue to snap up client books and IFA firms from advisers looking to exit ahead of the retail distribution review.
‘There are still advisers who are postponing decisions until 31 December arrives,’ he said. ‘Many are not qualified, and are sitting there wondering what their options are. There are quite a few people who are looking to come to a place where they feel safe, to a well-capitalised company. We are in talks with quite a few individuals, and a couple of teams.’
News sponsored by:
Today's top headlines
- Sunday Papers: Shell warns against commodity market regulation
- Saturday Papers: Backlash to hit scandal-tainted City
- Lights, camera, action! Widows and Helm launch film pension scheme
- High Court judge imposes freezing order on Harlequin bosses' assets
- Tenet scraps five-day Twitter checks with new social media policy
More about this article:
More from us
- Sanlam to merge Principal and Merchant Securities
- Nucleus appoints ex-Sanlam director as MD
- Sanlam UK boosted by new business
by Himanshu Singh on May 19, 2013 at 03:08