The completion follows FCA approval and will see Tavistock’s advisers joining Sanlam’s team of 60 Financial Planners, expanding the group’s coverage to most of the UK. The acquisition will add £1.5 billion to Sanlam UK’s assets under advice.

Sanlam group chief executive Jonathan Polin, who joined Sanlam in 2015, has led the group’s wider integration strategy, bringing together Sanlam’s UK operations under one “aligned vision, brand and culture”. Sanlam now has over £13 billion in client assets.

Mr Polin said: “We are excited to begin integrating the team from Tavistock Financial into our existing business and supporting its network of high quality advisers.”

“This acquisition reflects both our ambition and our desire to be a truly vertically integrated business with client-centric financial advice at its core. It also allows us to accelerate our partnership programme, the Sanlam Partnership, whereby adviser firms leverage all the benefits of a larger group while retaining full control of their business. I look forward to working with all of our new colleagues to make it a success.”