Buckles’ chief executive Nigel Speirs, a Rhyl-based solicitor, said the deal would boost the firm’s acquisition strategy and enable it to roll out its graduate training and development programme throughout the country.

Speirs said: “The investment will enable us to continue our programme of acquiring the businesses of IFAs who wish to retire. During the last five years we have acquired some dozen client banks in Wales and the North West and have identified many more.”

South African law firm Jowell Glyn & Marais led the legal advice to Sanlam, led by senior partner Francois Marais and partner Roux van der Merwe.