St James’s Place has acquired UK-based protection specialists Future Proof to bolster the wealth manager’s specialist protection advice operation.
The deal will see Future Proof become part of the SJP Group.
No financial details were disclosed.
Iain Rayner, joint chief operating officer of SJP, said: “In a short space of time, Future Proof has established itself as one of the leading protection advisory services in the UK.
“They have achieved this by focusing on the value of relationships and with an ethos that is very similar to our own – to provide the highest level of advice to clients so that their needs, and those of their families, are met long into the future.”
Established in 2011, Future Proof provides advice on income protection insurance, critical illness insurance and life insurance, in both the personal and business markets.
Since inception, it has arranged over £800m ($1bn, €887m) worth of cover for clients via a range of insurance companies.
Future Proof’s founder David Mead said: “To be able to now support St. James’s Place Partners and clients with important and often complex conversations about protection marks the beginning of an exciting new chapter and is another step towards closing the protection gap that exists in the UK.”