He said: “We wish to engage with the owners of established and successful practices, enter into meaningful conversation about the purchase of their business and to develop a successful, long-term relationship that benefits all parties.”
Sanlam will offer a statement of intent to acquire businesses that meet its criteria, at a pre-agreed future date. Criteria include the adoption of Sanlam’s restricted advice process and the demonstration of a strong track record in compliance and customer service.
Sanlam manages more than £50bn in client assets.
ADVISER VIEW
Keith Churchouse, director of Surrey-based Chapters Financial, said: “Since the RDR, there are new products on the market from many of these firms. My question is: who are they going to be profitable for? My advice to advisers would be to ask themselves if the time is right for them now, and not to rush. Values will climb the longer they wait. Going now would be selling out quickly and cheaply.”
