Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/new-model-adviser/article/a411816
Sanlam seeks bigger footprint in IFA arena with consultancy service
by Nicholas Paler on Jul 06, 2010 at 08:00
The charging structure for the service is not yet clear. Speirs said Sanlam could take a fee but that it could also arrive at ‘other commercial arrangements’ with firms.
Sanlam is considering acting as a lender to IFA businesses with which it partners, according to Eling. ‘We are looking at providing capital for partner firms to help them grow, as long as they can demonstrate a return on capital,’ he said.
However, Speirs said Sanlam would not try to take stakes in the businesses it develops links with. It would instead increase its adviser numbers through the growth of Buckles, the Rhyl-based IFA it bought in 2008.
Speirs said Buckles aimed to grow its adviser team from 48 to around 200 in the next four years.
Its growth strategy is based on attracting candidates for its graduate trainee scheme, who it then provides with client banks acquired from retiring advisers.Markets
News sponsored by:
Today's top headlines
More about this article:
More from us
- Sanlam prepares to pounce on advisers with business buy-in plan
- Sanlam backing helps Principal expand team
- Sanlam stirs as Buckles boss becomes head of distribution
- Sanlam acquires 60% stake in Buckles
- Cover Star: Making plans for Nigel Speirs of Buckles
5 comments so far. Why not have your say?
Anonymous 1 needed this 'off the record'
Jul 06, 2010 at 10:57
wow a little different from the Snodownia model !
report thisAnonymous 2 needed this 'off the record'
Jul 06, 2010 at 12:16
it's that physical / sit down help to move from commission to RDR arrangements that we need - and that the life companies out there don't deliver. Well done Sanlam.
report thisDave
Jul 06, 2010 at 15:44
life companies shouldn't really help though should they, after all the whole point of RDR is to move away from the Life companies being involved and showing how to run business rather than simply being the wholesalers of financial products.
report thisAnonymous 3 needed this 'off the record'
Jul 10, 2010 at 04:20
I hope somebody takes a careful look at the Buckles shareholding structure one day, particularly in relation to Snowdonia Asset Management Ltd
report thisIFA106
Jul 12, 2010 at 13:55
Providers can absolutely, 100% be involved in assisting IFAs. There is, yes, a clear removal of provider 'commission bias' coming - but don't misunderstand, the differentiator will be service and holistic & relevant help for IFAs. I got great benefit from some local, on the ground consultancy help which didn't compel me (whatsoever) - but which I chose to be successful by using.
report thisleave a comment
Please sign in here or register here to comment. It is free to register and only takes a minute or two.