Sanlam UK has acquired Thesis Asset Management for an undisclosed sum.

The deal includes the private client business, distribution network, and direct support teams of Thesis.

It also includes the asset manager’s Pallant financial planning unit.

Thesis will now adopt the Sanlam brand.

The offices of Thesis in Guildford, Lymington, Chichester and Brighton will now join Sanlam’s network.

Sanlam UK CEO Jonathan Polin said: “Thesis is a high-quality business and an important strategic fit for Sanlam in the UK.

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“It was clear from the outset of our discussions with the Thesis management team that we were fully aligned in terms of investment philosophy, culture and an unwavering commitment to client service.

“We have high ambitions to make Sanlam a leader in client-centric wealth management and our acquisition of Thesis is an important milestone in that journey.”

The takeover will boost UK private client discretionary assets managed by Sanlam to £4.2bn.

Recent acquisitions by Sanlam UK:

Sanlam UK is part of South African financial services group Sanlam.

Earlier this month, the firm purchased Blackett Walker– an IFA and employee benefits firm based in Newcastle.

This January, Sanlam UK acquired Astute Wealth Management that is based in Preston.

Last week, Sanlam UK took over the management of three VAM Global Management discretionary funds.