Sanlam has bought Newcastle-based IFA Blackett Walker, in a deal that will add a specialist advice company for medical staff to Sanlam's business.
The acquisition, for an undisclosed fee, will see five financial advisers who currently advise 1,000 clients join Sanlam.
As part of the acquisition, Sanlam will also take over Blackett Walker Medical, which specialises in offering financial advice to medical professionals.
John White (pictured), chief executive of Sanlam's UK wealth arm, said there were similarities between the two companies before the acquisition was agreed.
'In line with our commitment to expand our regional footprint, this deal will further strengthen our wealth management presence in the North of England,' he added.
Blackett Walker was founded by company directors Richard Blackett and Kevin Walker. Blackett said the aim was 'to grow the business in the North of England' following the acquisition.
He added Sanlam 'has put significant time and energy into delivering its proposition and digital services to create an impressive client experience'.
This is the second acquisition announced by Sanlam this year. In January it revealed it had bought Preston-based Astute Wealth Management.
Last month New Model Adviser® revealed Sanlam's head of advice partnership, Alex Morley, had left the firm.