UK-based Sanlam Private Wealth (SPW) has acquired three advisory
firms, bringing in a combined £75m in funds under advice.

The firms that have been acquired are Oakdene Practice in
Bristol, Parkgate Financial Solutions in Warrington and Libra
Associates in Dorset.

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The acquisitions will provide the firm with
£450,000 in yearly trail income and £75m in funds under investment,
in addition to the £650m Sanlam currently manages.

SPW’s chief executive, Nigel Speirs said the
acquisitions bring the total number of acquisitions this year to
seven, with more in the pipeline.

 

Stepping up acquisitions

SPW said it is stepping up the pace with its
expansion strategy in the run up to the Retail Distribution
Review.

Speirs said he expected to acquire another
“ten or 15” businesses before the end of the year.

He said: “We have had enough enquiries from
advisers looking to leave the industry to keep us busy. The leads
either come to us direct because they know we are in the market, or
they are introduced via brokers.”