Sandringham’s 185 advisers, managing £2.3bn in assets under advice, will continue to use Benchmark’s combined platform, practice management and CRM system with the extension.

Tim Sargisson, CEO of Sandringham, said: “We have a very strong relationship with Benchmark that we have cemented even further with this deal.

“We're growing quickly, and we're excited about the security and scale they can help us bring rapidly for the benefit of our advisers and their clients.”

Ed Dymott, managing director wealth at Benchmark Capital, said: “Sandringham are one of the UK’s most recognised financial planning businesses and we are delighted they have chosen to further extend their partnership for another 7 years to support their next phase of growth.

“It’s an exciting time for both businesses and we’re pleased that they have chosen to continue to use our proprietary award-winning solutions to power their ambitious plans over the next few years.”

Last year Sandringham launched an acquisition programme for Financial Planners aiming to retire. The Partner Acquisition Programme is designed to appeal to planners and IFAs planning to retire in the new few years but who are concerned about how their clients will be looked after post sale.

The company said the emphasis of the programme is on acquiring fee income rather than assets.