Sanlam UK boosts assets under management with Thesis acquisition
Sanlam UK has acquired UK asset manager Thesis in a “milestone” deal, which will add £1.2bn to its assets under management (AUM).
The firm has bought Thesis’ private client business, distribution network, direct support teams and its financial planning business Pallant for an undisclosed sum.
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Thesis’ offices in Guilford, Lymington, Chichester and Brighton will join Sanlam’s regional wealth management network.
The deal has boosted Sanlam’s UK private client discretionary assets under management to £4.2bn.
Sanlam UK chief executive Jonathan Polin said: ““It was clear from the outset of our discussions with the Thesis management team that we were fully aligned in terms of investment philosophy, culture and an unwavering commitment to client service.
“We have high ambitions to make Sanlam a leader in client-centric wealth management and our acquisition of Thesis is an important milestone in that journey.”
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The deal follows a string of acquisitions including Sanlam’s takeover financial planning firm Blackett Walker earlier this month, and its acquisition of Astute Wealth Management in January and Tavistock Financial in 2017.
Thesis managing director David Tyerman added: “Sanlam is a name synonymous with innovation and high quality service meaning it is an excellent fit for our business and a natural home for our clients.”