Sanlam Private Wealth, a UK arm of South Africa’s Sanlam Group, has netted an additional £77 million ($123 million) in assets with a trio of acquisitions – its second IFA hat-trick of the year.

The firms are Gloucestershire-based Stratton Annette's, Swansea-based Sheriton Financial Services, and a third, as yet unnamed, firm based in the southwestern region.

The client books of Stratton and Sheriton are worth £27 million and £25 million respectively, with the unnamed firm bringing in the remaining £25 million in assets.

Sanlam currently has £300 million in assets under management and £300 million under advice, but hopes to boost its AuM to £6 billion over the next five years. The firm also plans to ramp up its workforce from 100 advisors currently to 300 over the same period, chief executive Nigel Speirs has said.

Back in August Sanlam acquired three IFA books, bringing in a combined £75 million. The firms were: Bristol-based The Oakdene Practice, Parkgate Financial Solutions in Lancashire, and Devon's Libra Associates.

Sanlam is among several firms snapping up the client books of regional IFAs ahead of the 31 December implementation of the UK regulator’s Retail Distribution Review reform package. Many factors are prompting such IFAs to run into the arms of bigger firms, such as new minimum qualification standards and the increased costs associated with the RDR.