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Sanlam reveals adviser charging strategy
by Jun Merrett on Jan 02, 2013 at 10:40
Product provider Sanlam Investments and Pensions has unveiled its post-retail distribution review adviser charging strategy.
Sanlam will facilitate adviser charging for initial, ongoing and ad-hoc fees, deducted either before investment for its general investment account (GIA), ISA or onshore bond or deducted after investment into the product for its Personal Pension.
Adviser charging will be available on the Sanlam Portal, the OneSIPP, Transfer Pension Portfolio (S32) and the Versatile Investment Portfolio.
The company said it will only take one off or increased regular contributions to its Pension Portfolio Product on a non-advised basis. It will only accept direct instructions from a client for any increases and only on the basis that the client has not received financial advice on the matter.
Sanlam, headed by chief executive Lukas van der Walt (pictured), has set a maximum for adviser fee of 50% of each premium for initial fees for the GIA, ISA and Personal Pension.
Sanlam also closed its Zest Solutions fund range on the 31 December 2012 and will tell clients who are still making regular payments in the funds to contact their financial adviser and offer them a range of options, including selecting alternatives from Sanlam’s Pinnacle Range.
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by Jun Merrett on Jul 31, 2014 at 08:23