Sanlam buys Twickenham-based IFA’s client bank
Financial planning firm Sanlam Private Wealth buys client bank of IFA firms Camilleri & Associates.
Henry Camilleri, principal of Twickenham-based IFA Camilleri & Associates, is retiring from the industry.
Sanlam, which already has offices in North Wales, Bristol, Wiltshire and London, bought the IFA’s client bank for an undisclosed sum as part of its expansion strategy in the run-up to the retail distribution review (RDR).
With many advisers in the industry choosing to retire and not adopt the new regime, Sanlam Private Wealth is stepping up the pace with their acquisition strategy in 2012.
Camilleri & Associates brings a further £52m of funds under influence.
No principals or staff from either firm will be joining SPW, which now has more than £550m of funds under influence.
Nigel Speirs, chief executive of Sanlam Private Wealth, said: “Our programme of acquisitions is building up as we approach RDR. We wish Henry and his colleagues all the best and look forward to offering their clients the highest levels of service advice.
“We remain on the lookout for more quality businesses and we hope to complete on further acquisitions in the very near future”