UK network acquires Cheshire wealth management firm
Sanlam UK, part of international financial services group Sanlam Ltd, has acquired a 55% stake in Cheshire independent financial planning business Avidus Scott Lang (ASL), for an undisclosed sum.
The acquisition of ASL doubles the footprint of Sanlam in the North of England to six offices, bringing its total UK portfolio to 14.
Based in Sale, ASL was founded in 1983 by Dean Scott and Jimmy Lang.
It has since grown into a team of 12 financial advisers and support staff, providing holistic financial advice for clients across the North of England.
The deal follows several other strategic acquisitions made by Sanlam earlier in the year.
The Northern offering has grown through independent financial planning firm Blackett Walker Limited as well as chartered financial planning business, Astute Wealth Management.
In addition to these Northern businesses, Sanlam also acquired Thesis Asset Management in April, which has £1.2bn under management and a team of 30.
Ian Scott, managing director at, Avidus Scott Lang, said: “Like Sanlam, the ASL team passionately believes in providing a high-quality service, based on the long-term financial goals of their clients.
“As such, we believe this is a true cultural fit. Sanlam offers significant resources, insight and expertise, and will help us continue to deliver investment excellence to our clients.”
John White, chief executive of Sanlam UK’s wealth division, said: “This deal marks a confident expansion of our reach and further underlines our commitment to grow and strengthen our proposition in the North of England.
“This is another key step in our strategy to become a leading vertically integrated wealth manager with financial planning at its core.
“Our new colleagues at ASL will now become part of the Sanlam family and – as with the acquisitions of Astute and Blackett Walker earlier this year – support our growth targets and mission of delivering a superior service to clients.”