Sanlam Private Wealth has acquired the client bank of two new financial planning companies, Safetrend, which traded as Professional Connection, and Berkeley Associates Financial Planning as part of Sanlam’s strategy to grow its wealth management presence in the UK.
Professional Connection had offices in Plymouth and Exeter, looked after over 500 clients and had £71m under influence. Terry Chandler, the owner of the business, is retiring from the industry but will be working with Sanlam Private Wealth to assist with the smooth transition of clients affairs.
Berkeley Associates, based in Iron Acton, has over 450 clients based in Bristol and the South West with £26m funds under management. Owner and advisers Mike Sutton and Harry Shepard are also retiring but again will remain close to the business during transition.
The clients from both acquired businesses will be looked after by advisers based from the Sanlam’s Bristol Head Office.
Giles Cross, head of marketing at Sanlam UK, said Sanlam wants to continue its acquisition trail and will continue to offer owners of financial advisory businesses looking to leave the industry with a secure, reliable exit strategy.
He said: “Interestingly, in recent months, we have noticed a rise, not only in enquiries from retiring practitioners, but also from advisers looking to remain in the industry; advisers seeking a home which delivers a clear, high quality, post RDR client proposition and the appropriate support mechanisms which allow them to concentrate solely on building their businesses with confidence.
“The opportunities for advisers who wish to work with Sanlam in the UK are outstanding. We welcome all enquiries from those who are either looking to either sell their businesses or align their interests with us.”
