Mr Sargisson has been CEO of Sandringham since 2015 and led the acquisition of the business by M&G plc at the start of the year.

M&G said the rest of the existing management of Sandringham will remain in place to ‘further develop its growth strategy’.

Following completion of the acquisition by M&G, Sandringham sits alongside M&G Wealth’s existing advice, platform and investment businesses and will continue to operate under the Sandringham brand.

Huddersfield-based Sandringham currently has more than 180 IFA partners and advises on assets of more than £2.5bn for over 10,000 clients.

Mr Sargisson said: “I have been incredibly proud to lead Sandringham. Our core focus has always been to support, guide and enable our partners to protect and enhance the lives of our clients.

“We have consistently been independently recognised as having significant levels of client’s engagement and satisfaction ratings in delivering excellent outcomes for our clients.

“I am confident that, as part of M&G, our partners will be able to increase this focus in the future and continue to greatly enrich our clients’ lives”.

David Montgomery, managing director of M&G Wealth, added that Mr Sargisson played a ‘huge part in making Sandringham such an attractive and growing proposition’ for M&G to acquire.

M&G Wealth was formed in September 2020 to expand M&G's interests in the advice and platform sector.

Sandringham is one of several acquisitions made by M&G so far this year.

In February M&G plc acquired TCF Investments to provide model portfolio services (MPS) and in April 2022 added a new range of six model portfolios focused on investing globally and incorporating ESG factors in its investment process.

Earlier this month M&G announced that it was taking an initial 49.9% stake in national IFA firm Continuum with a scheduled agreement in place to acquire the remainder over the following 2 years.

M&G plc is an international savings and investment business and manages money for about 5m retail customers and more than 800 institutional clients in 28 markets.