M&G plc to acquire Sandringham Financial Partners

M&G plc announces today an agreement to acquire Sandringham Financial Partners, a fast-growing provider of independent financial advice.

The acquisition will bring more than £2.5 billion of assets under advice to M&G plc, as well as relationships with around 180 advising Partners acting on behalf of over 10,000 individual clients.

John Foley, Chief Executive of M&G plc, says: “This deal strengthens M&G Wealth’s position in the UK savings and investment market, complementing our existing network of advisers and many clients and direct customers with a well-established national Independent Financial Adviser business.

“Sandringham will accelerate our ability to grow and build our advisory capability across the UK and to provide a wider range of investment solutions to more clients.”

M&G Wealth was formed in September 2020 as a powerful new force in the fast-growing market for UK wealth management services. On completion Sandringham will sit within M&G Wealth alongside its existing advice, platform and investment businesses.

The deal is subject to regulatory approval.

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Notes to editors

OpenAbout M&G plc

M&G plc is an international savings and investments business, managing money for around 5 million retail customers and more than 800 institutional clients in 28 markets. As at 30 June 2021, we had £370 billion of assets under management and administration.

With a heritage dating back more than 170 years, M&G plc has a long history of innovation in savings and investments, combining asset management and insurance expertise to offer a wide range of solutions. We serve our savings and insurance customers under the Prudential brand in the UK and Europe and for asset management in South Africa, and under the M&G Investments brand for asset management clients globally.

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority. M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.