UK financial services giant M&G has agreed to acquire Huddersfield-based IFA firm Sandringham Financial Partners for an undisclosed sum.
Sandringham, led by chief executive Tim Sargisson, has over 180 IFA partners and advises on assets of more than £2.5bn ($3.44bn, €2.93bn) for over 10,000 clients.
On completion, Sandringham will sit within M&G’s wealth division alongside M&G Wealth’s existing advice, platform, and investment businesses.
David Montgomery, managing director of M&G Wealth, said: “This complements our existing network of advisers with a well-regarded national independent financial advice business. It will accelerate our ability to provide increased advice to more consumers, with a wider range of solutions.
“It will also enable us to attract further advisers. We are keen to expand and develop our advisory capabilities to broaden services, be a core part of tackling the advice gap in the UK, and ultimately provide better value and enhanced experiences for our clients.”
‘Business as usual’
Sargisson added: “I very much welcome this deal. We will be the independent part of a business fully committed to significantly increase its presence in providing much needed financial advice services.
“It is business as usual for Sandringham with the compelling opportunity to be part of a strong parent that is committed as much as we are to delivering the best experiences to our clients.
“I look forward to working with future colleagues in M&G Wealth to drive forward these shared goals and ultimately add significantly to the well-being of our clients”.
