Thesis’ offices in Guilford, Lymington, Chichester and Brighton will become part of Sanlam’s regional wealth management network.
The deal will take Sanlam’s UK private client discretionary assets under management to £4.2 billion.
David Tyerman, managing director at Thesis, said: "Sanlam is a name synonymous with innovation and high quality service meaning it is an excellent fit for our business and a natural home for our clients."During our discussions with Sanlam, we were impressed with their passion for delivering clients’ investment goals and their commitment to providing the personalised service our clients rightly expect.
We are excited about our partnership with Sanlam and the new opportunities it provides for our clients."In March Alex Morley, the chief executive at Sanlam’s advice partnership business, left the company after five years in the role.
Jonathan Polin, chief executive at Sanlam UK, said Thesis was an "important strategic fit" for Sanlam in the UK.
He said: "It was clear from the outset of our discussions with the Thesis management team that we were fully aligned in terms of investment philosophy, culture and an unwavering commitment to client service."We have high ambitions to make Sanlam a leader in client-centric wealth management and our acquisition of Thesis is an important milestone in that journey."The acquisition is hoped to bolster Mr Polin's 2016 strategy of "becoming the wealth manager of choice for high net worth individuals and their advisers".
The firm has bought Thesis’ private client business, distribution network, direct support teams and its financial planning business Pallant for an undisclosed sum.
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The acquisition required FCA approval and was subject to the Takeover Code.
David Tyerman, Chief Executive commented, “This was an important deal for Thesis Asset Management and a complex one, involving a lot of moving parts.