Cheltenham-based Tavistock Financial’s advisers and its 25 staff will join the Sanlam group’s 60 financial planners to expand its reach across the UK the firm said.
The acquisition, which saw Tavistock Investments sell its advisory arm, follows the “hugely positive” launch earlier this year of advisor network Sanlam Partners.
Sanlam’s UK CEO Jonathan Polin said: “We are very pleased to welcome both Tavistock Financial’s network of advisers and its support team to Sanlam.
“Earlier this year, I announced the launch of Sanlam Partners, a way for adviser firms to leverage the benefits of the wider Sanlam Group while retaining ownership of their business and their clients.
“The initial response has been hugely positive and today’s acquisition allows us to accelerate this concept, putting us in a strong position to bring on-board the high quality adviser firms who would like to join us.”
Brian Raven, CEO of Tavistock Investments Plc, said they had been reassured Sanlam would protect the interests of its former staff and advisers.
He said: “The Tavistock Financial business no longer fits with our strategy but, in disposing of the business, it was important to us that the interests of the staff and advisers were protected. Sanlam has convinced us that they are the right firm to take the business forward.”
