The acquisition has led to GBP52 million of funds under influence being transferred to Sanlam Private Wealth, which now has over GBP550 million of funds under influence, noted MoneyMarketing.
Additionally, the acquisition will not lead to the principals or staff from Camilleri & Associates, which specialises in advising private clients, to join Sanlam.
MoneyMarketing stated that the managing director of the Middlesex-based IFA firm Henry Camilleri would be retiring from the industry.
"Our programme of acquisitions is building up as we approach RDR. We wish Camelleri and his colleagues all the best and look forward to offering their clients the highest levels of service advice," MoneyMarketing quoted Sanlam private wealth chief executive Nigel Speirs as saying.