Sanlam UK, part of international financial services group Sanlam, is taking a 55% stake in independent financial planning business Avidus Scott Lang (ASL) thus expanding its presence in northern England to six offices.
Based in Sale, Cheshire, ASL was started over 35 years ago in 1983 by Dean Scott and Jimmy Lang. It has since grown into a team of 12 financial advisers and support staff, providing holistic financial advice for clients across the North of England.
The acquisition follows several other strategic purchases made by Sanlam earlier in the year. The northern offering has grown through independent financial planning firm Blackett Walker Limited as well as chartered financial planning business, Astute Wealth Management. In addition to these northern businesses, Sanlam also acquired Thesis Asset Management in April, which has £1.2bn assets under management and a team of 30.
John White, CEO of Sanlam UK's wealth division said:"This deal marks a confident expansion of our reach and further underlines our commitment to grow and strengthen our proposition in the North of England.
"This is another key step in our strategy to become a leading vertically integrated wealth manager with financial planning at its core. Our new colleagues at ASL will now become part of the Sanlam family and - as with the acquisitions of Astute and Blackett Walker earlier this year - support our growth targets and mission of delivering a superior service to clients."