Saunderson House is set move to a restricted advice model from 20 June 2022, International Adviser understands.
The financial planning firm’s clients and staff were notified on 20 May 2022 about the change.
The firm was bought by wealth manager Rathbones for £150m ($207m, €174m) in June last year.
The move from an independent advice model means that Saunderson House will only advise on Rathbones Group products “in the first instance”.
The change has come after the two firms carried out a business assessment to work out how Rathbones can distribute products to Saunderson House’s clients – and going to a restricted model was seen to be the best way to do this.
Saunderson manages around £4.7bn in funds under management, advice and administration for around 2,200 high-net worth clients.
IA has contacted Rathbones and Saunderson House, but both declined to comment.
