A firm co-founded by Chartered Financial Planners has been bought by national wealth manager Sanlam UK.

Grennan Advisers, a Financial Planning business based in East Yorkshire, which puts an emphasis on cashflow modelling and bespoke financial plans, has been acquired for an undisclosed sum.

It was launched in 2013 by Chartered Financial Planners Stuart Grennan APFS and Helen Chapman, specialising in providing holistic Financial Planning services for high net worth individuals and business executives.

Mr Grennan and Ms Chapman will work with Sanlam UK to support the handover and integration of client relationships.

Sanlam UK is acquiring the firm’s book of clients and £60 million of assets under management.

Mr Grennan and Ms Chapman said in a joint statement: “From the outset, we were impressed with Sanlam’s client-centric attitude and its desire to provide a truly outcome driven service. We have always prided ourselves on delivering a relevant proposition as well as giving clients peace of mind and are delighted that Sanlam will continue with this approach.”

John White, CEO of Sanlam’s wealth division, said: “Grennan Advisers is a high quality business with an ethos of providing excellent service and delivering clients’ long-term financial ambitions.

“As such, it very much reflects our approach at Sanlam. It is testament to our business and our vision that Stuart and Helen have chosen Sanlam as the obvious home for their discerning clients.”

Ms Chapman also founded another firm previously called Kirkella Investments.