Sanlam merges wealth arms, courts advisers in SJP challenge

Added 13th October 2016

Sanlam UK is to set up a new division encompassing its discretionary fund management and financial advice divisions and launch a partnership initiative for advice firms to join the group in a move that challenges St James’s Place’s existing model.

Sanlam merges wealth arms, courts advisers in SJP challenge

The combined DFM and advice business will be run by John White, formerly of employee benefits group A J Gallagher, with Alex Morley continuing to lead Sanlam’s wealth planning arm.

Morley will also lead the launch of Sanlam Partners, a new initiative that gives ‘culturally aligned’ financial planning firms the ability to utilise some of Sanlam’s processes, expertise, and proposition to help growth their businesses.

The advice firms will also have the opportunity to become part of the Sanlam family via a buy-out at a later stage in a model similar to that of SJP. 

Senior appointments  

Alfio Tagliabue, currently Sanlam UK’s chief financial officer, will become the chief executive of its boutique asset manager Sanlam FOUR.

Jeremy Gibson, chief executive of Sanlam Investments and Pensions, will take on the role of interim chief financial officer for the group. Graham Hooper, formerly of Miton Group and Charles Stanley, has joined the group as distribution director.

Unified and integrated

Jonathan Polin, group chief executive of Sanlam UK, said: “My aim is to create a unified, integrated financial services business recognised for the quality of its advice, asset and discretionary fund management services.

“The integration our private wealth and wealth planning arms is vital to deliver a focused and highly skilled wealth management business that puts financial planning at its heart.

“We have a vibrant and talented boutique asset management business within the group. I want to equip it for the future so it can deliver a range of different capabilities to help manage the needs of both our global client base, and our third party clients across the wholesale and institutional markets, in both the UK and Europe.

“Alfio’s strong understanding of the needs of a modern boutique asset management business and the trust I hold in him will help us to grow this vital area of our proposition.”

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About Author

Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 

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