Sanlam UK, part of South African financial services group Sanlam, has purchased East Yorkshire-based Grennan Advisers, which manages £60m of assets.

The financial details of the transaction were not disclosed. Sanlam will acquire the financial planner’s entire book of clients.

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Founded in 2013, Grennan Advisers provides financial planning services for high net worth individuals and business executives.

Sanlam CEO of wealth division John White said: “Grennan Advisers is a high-quality business with an ethos of providing excellent service and delivering clients’ long-term financial ambitions.

“As such, it very much reflects our approach at Sanlam. It is testament to our business and our vision that Stuart and Helen have chosen Sanlam as the obvious home for their discerning clients.”

Grennan Advisers founders Stuart Grennan and Helen Chapman will work with Sanlam during the transition period.

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Grennan and Chapman said: “From the outset, we were impressed with Sanlam’s client-centric attitude and its desire to provide a truly outcome-driven service.

“We have always prided ourselves on delivering a relevant proposition that also gives clients peace of mind, and are delighted that Sanlam will continue with this approach.”