Sanlam UK has bought a Newcastle-based financial planning company for an undisclosed sum.
The deal to buy Blackett Walker will see five financial advisers, as well as their support staff, join Sanlam.
John White, chief executive of Sanlam UK’s wealth division, said: "Blackett Walker is a high-quality business with a strong ethos. Over the past two decades, [its directors] have built a hugely successful business with the client at its heart. Providing high quality service and delivering on clients’ long-term financial ambitions, it very much reflects our approach at Sanlam UK.
"In line with our commitment to expand our regional footprint, this deal will further strengthen our wealth management presence in the north of England. I look forward to working with our new colleagues to develop our proposition for current and future clients."
Blackett Walker, which was founded in 1994, is a specialist in providing financial planning for medical professionals.
Richard Blackett, director of Blackett Walker, said: "We have always prided ourselves on putting clients first and delivering a high standard of service, so it was important to us to work with a firm with the same approach.
"Sanlam has client service in its DNA and has put significant time and energy into delivering its proposition and digital services to create an impressive client experience.
"We look forward to working with our new colleagues at Sanlam to grow the business in the north of England and continuing to provide a goal-driven service for our clients."
Sanlam UK's wealth division is a national financial advice business with nearly £2bn of assets under advice and 55 advisers based around the UK.
The chief executive of Sanlam UK, Jonathan Polin, joined the company in 2015 with the ambition of turning it into a "significant player" in the UK.
damian.fantato@ft.com
