Sanlam in partnership with Source Pensions
Sanlam Fund Solutions has teamed up with Source Pensions to provide IFAs with access to investment management advice in the corporate pensions market, the sales and marketing director of Sanlam has said.
Adrian Jewitt, of Sanlam Fund Solutions, said the partnership would provide a solution for intermediaries ahead of the onset of auto-enrolment.
He said: “Auto-enrolment will be a great driver of change, creating millions of new corporate pension holders, and RDR will also have a knock on effect.
“Clients and their financial advisers will no longer be willing to settle for the limited options that existing corporate schemes offer and the lack of services truly aligned to a member’s risk profile in the corporate pensions market, has resulted in a real opportunity for us.”
Alastair Burt, managing director of Source Pensions, said the platform would provide access for scheme members, employers, financial advisers and administrators.
He said: “As well as facilitating easy self-service for members and employers, the system allows financial advisers to readily manage a diverse portfolio of schemes.
“It reduces paper, error and cost and is more flexible, independent and user friendly than other institutional alternatives. This is an ideal solution to the issues facing both financial advisers and employers with the advent of the retail distribution review and auto-enrolment.”
Minesh Patel, owner of London-based EA Financial Solutions, said: “I have spoken at length with my corporate clients about auto-enrolment. The demand seems to be slow. These are only firms with fewer than 200 staff. There seems to be an appetite for deferring things until they absolutely have to act. I think that is a consequence of the economic climate.”