Acquisition of Stratton Annette’s is the eighth acquisition of SPW in 2012, and is in line with Sanlam’s plans to grow their national presence in the UK.
Post-acquisition, a number of SPW’s advisors, will service the clients.
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Meanwhile, the principal and owner Simon Blaber, who had founded SPW in 2003, and a second advisor of SPW, Peter Hicks, are leaving the industry to pursue other interests, though both will stay on for a brief transitionary period.
Stratton Annette’s has around 160 private clients, many HNW and around GBP27 million funds under Influence.
Commenting on the move, Nigel Speirs, CEO of Sanlam Private Wealth, said: "Our strategy is to grow our funds under management and client numbers, which we have done successfully over the last few years by buying the client banks of retiring IFAs. These clients are then serviced by advisers recruited through the award winning graduate training and development programme."
"We continue to receive a large number of approaches from IFAs thinking of leaving the industry and remain on the lookout for more quality businesses to buy in the last quarter of 2012 and into next year," Speirs added.
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