Sanlam UK has acquired Astute Wealth Management, a chartered financial planner based in Preston, for an undisclosed sum.

Set up by Andy McLaughlin and Jean McLaughlin in 2007, Astute offers financial planning and family office services. The business caters to clients in the north west of England.

“From the outset we were impressed by Sanlam’s ambition, drive and core values. It’s becoming rare to find a wealth management firm that takes the time to get to know its clients and their financial needs, but this is core to Sanlam’s approach,” Andy McLaughlin noted.

Sanlam UK CEO of wealth division John White said: “Like Sanlam, Astute Wealth Management is committed to providing a great service and ultimately meeting the long-term financial goals of its clients.

“We were very impressed by the client-centric culture Andy and Jean have nurtured within the business and as such, we believe Astute is a good cultural fit with our wider business.”

The latest deal continues Sanlam UK’s recent acquisition spree. In February last year, the firm acquired East Yorkshire-based Grennan Advisers, adding £60m of assets to its books.

In 2017, Sanlam UK snapped up Cheltenham-based financial adviser network Tavistock Financial. The deal added £1.5bn in assets to Sanlam UK’s portfolio.