Sanlam Private Wealth has acquired the client bank of two Financial Planning businesses.
These are Cornforth Consultants Wealth Management in Telford and Wealthport Limited in Shrewsbury.
Sanlam has now completed the acquisition of 15 client banks since 2009 and it is a core strategy for the firm as it builds up its wealth management division.
Cornforth has 225 active clients and around £32.2m under influence, run by adviser and owner Mark Woodland. A small number of Sanlam Private Wealth advisers will relocate to Telford and Mr Woodland will remain as a consultant to the business.
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Mr Woodland said: "We selected Sanlam Private Wealth from the many other companies we considered as they benefit from the resources of a major multinational whilst maintaining a commitment to individual service. There will be considerable consolidation within the adviser community over the coming years and Sanlam is positioned to be one of the major players. We are confident that they will deliver excellent levels of service and enhance the proposition for our clients."
Wealthport has 114 active clients and £19.5m of funds under influence, run by John Kenny-Levick. Mr Kenny-Levick is moving abroad so his clients will advised at Financial Planners at Sanlam's Rhyl office.
Mr Kenny-Levick of Wealthport said: "I am delighted that after many months of discussions and several offers for Wealthport, I have concluded an agreement with Sanlam Private Wealth. Sanlam has assisted in every step over these last few months and I have found the firm very helpful."

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