Financial services group Sanlam UK has acquired IFA and employee benefits firm Blackett Walker for an undisclosed fee.
This is the firm’s second acquisition of 2019 after it bought Preston-based Astute Wealth Management in January.
Based in Newcastle, Blackett Walker offers financial advice services across the north of England as well as specialist financial planning for medical professionals.
The company was founded by current directors Richard Blackett and Kevin Walker.
The team of five financial advisers, who serve a client base of more than 1,000 people, will be retained along with all support staff.
John White, chief executive of Sanlam UK’s wealth division, said: “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.”
Overall, Sanlam UK has over £12bn ($15.7bn, €13.9bn) in assets under management or influence, and provides a number of insurance, financial planning, investments and wealth management services.