M&G plc to acquire Sandringham Financial Partners
M&G announces today an agreement to acquire Sandringham Financial Partners, a fast-growing provider of independent financial advice.
The acquisition will bring more than £2.5 billion of assets under advice to M&G plc, as well as relationships with around 180 advising Partners acting on behalf of over 10,000 individual clients.
John Foley, Chief Executive of M&G plc, says:
“This deal strengthens M&G Wealth's position in the UK savings and investment market, complementing our existing network of advisers and many clients and direct customers with a well-established national Independent Financial Adviser business.
“Sandringham will accelerate our ability to grow and build our advisory capability across the UK and to provide a wider range of investment solutions to more clients.”
M&G Wealth was formed in September 2020 as a powerful new force in the fast growing market for UK wealth management services. On completion Sandringham will sit within M&G Wealth alongside its existing advice, platform and investment businesses.
The deal is subject to regulatory approval.