Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Sanlam launches joint venture professional connections firm

1 Comment
Sanlam launches joint venture professional connections firm

Sanlam Private Investments (SPI) has created a new company to which professional connections can outsource their clients’ wealth management through a joint venture approach.

The service, Sanlam Professional Partnerships (SPP) LLP, is a Financial Conduct Authority-regulated business, which solicitors and accountants referring clients to it will become joint venture partners in.

Under the agreement, the partner businesses will receive a 50% profit share on the money they introduce.

Laurence Houlden, director of professional partnerships at Sanlam, told Wealth Manager: ‘The key differential here is that because those professional firms are joint venture members in the LLP, they receive a profit share based on the value to the LLP of the introductions they make.’

The services offered by SPP include wealth management, financial planning and cashflow forecasting. Subject to practicality, Sanlam is also offering to send a chartered financial planner on site either full or part time to build the business within the partnership.

‘It is all about the benefits of an in-house financial service business without the associated cost or risk,’ Houlden added.

Ian Porter (pictured), SPI’s head of wealth management, said SPI has already signed up a corporate advisory company and an accountancy firm, and he anticipates ‘three to four more’ coming on board in the next two months.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Boutique tapes: my business will never be sold

Boutique tapes: my business will never be sold

In the final part of our four part series we discuss consolidation and whether it's getting tougher for boutiques to survive.

Play Boutique tapes: are top managers better off at small firms?

Boutique tapes: are top managers better off at small firms?

In episode three of our series, boutique bosses discuss whether the best fund managers are more likely to thrive at smaller firms.

Play Boutique tapes: if you want a Ferrari, you have to pay for it

Boutique tapes: if you want a Ferrari, you have to pay for it

In the second part of our four-part series, boutique bosses are asked how they can justify the fees charged by active managers.

Read More
Your Business: Cover Star Club

Profile: how this boutique beat the big guns of wealth

Profile: how this boutique beat the big guns of wealth

This small west country offshoot of a local IFA scooped a 2018 Citywire award from beneath the noses of the national challengers

Wealth Manager on Twitter