Fund and wealth management group M&G has received the regulatory go ahead for its acquisition of financial adviser firm Sandringham Financial Partners.

Fund and wealth manager M&G has promoted Clare Bousfield to be its first managing director, retail & savings, to lead the expansion of its new M&G Wealth arm.

Fund manager and wealth group M&G is to acquire the rapidly growing financial advisory group Sandringham Financial Partners for an undisclosed sum.

The M&G Property Portfolio Fund and its feeder fund are to resume dealing next month on 10 May after being suspended for nearly 18 months.