The decision follows a board level review of the future for financial advice and in particular the forthcoming Retail Distribution Review.
The existing team of advisers will transfer to Towergate Financial and the transfer will also deliver a small financial gain to Saffron’s members.
Jon Hall, chief executive of Saffron, said: “Saffron’s objective was to guarantee the provision of this valuable financial advice service in light of regulatory uncertainty.
“Engaging with Towergate Financial achieves this objective as well as retaining our existing advisors.
“It’s a credit to the team involved in Saffron IFA that there was such interest in this business reflecting the highest standards in handling our clients.
“Towergate Financial is an extremely well-respected firm with the necessary expertise and financial strength to complement Saffron.
“I am glad that their stewardship will provide continuity of quality independent financial advice to our customers and am wholly confident that our IFA clients will be well-supported though the forthcoming changes to regulation.”
Dan Saulter, chief executive of Towergate Financial, said: “We are looking forward to working closely with Saffron and providing financial advice to its members.
“Our business model, centred on providing great ongoing service, fits perfectly with the culture of the Saffron.
“The building society sector is a strong growth area for Towergate Financial and with the Saffron on board, we are providing advice across four leading societies and more than 50 sites. We are looking forward to getting started.”
