Adviser Advocate was set up by former Axa Wealth International sales and marketing manager Richard Leeson in August last year following his departure from the company.
The company offers product providers a dedicated network of business development managers who have existing relationships with IFAs around the UK. Adviser Advocate’s website says the company aims to “generate increased volume and quality of cash flow, cost reductions and cost controls leading to ongoing profit improvements”.
“We are totally committed to supporting advisers and their clients and are delighted to have teamed up with Sanlam Guernsey,” said Leeson, chief executive of Adviser Advocate.
Sanlam’s decision to outsource its distribution to UK IFAs to Adviser Advocate, follows a re-launch of its offshore bond in November, which saw it reduce overall client charges.
As reported, investors in Sanlam’s Global Investment Solutions offshore bond will be charged a set up fee capped at £300, an annual management charge of 0.5%, down from 1.5% (and capped at £1,200 p.a.) and a annual custody fee of 0.05% – down from between 0.4% and 0.25% previously.
Leeson added he understood the cap on fees was unique in the UK offshore bond market.
John Croft, head of UK and Europe at Sanlam said: “In the post RDR world the days of unlimited charges on offshore bonds are over, Sanlam Global Investment Solutions recognise the strain this places on client returns and have introduced a brand new pricing model.”
