Sanlam unveils adviser buy-out plan

Sanlam unveils adviser buy-out plan

Sanlam has restructured its business and made a raft of senior appointments as chief executive Jonathan Polin implements his plans for the company.

They include the creation of Sanlam Partners, a new initiative to give “culturally aligned” financial planning firms the chance to use some of Sanlam’s proposition and processes to help them grow.

These firms could then become part of Sanlam through a buy-out at a later stage.

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Alex Morley will remain chief executive of the wealth planning arm and will launch this initiative.

Jonathan Polin, 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.

“I am delighted to be announcing so many strong additions to the Sanlam Group today along with initiatives that I firmly believe will help deliver an even better service to clients.

“Our proposed partnership programme will be a significant accelerator of our plans.”

Sanlam has created a new wealth management division responsible for private wealth and wealth planning led by John White, the former chief executive of RSM Tenon’s financial services arm.

Alfio Tagliabue, currently Sanlam UK’s CFO, will become chief executive of its boutique asset manager, Sanlam Four.

Mr Tagliabue spent 12 years as a board-level consultant to boutique asset and wealth managers, most notably at Thames River, before becoming CFO at Ashcourt Rowan where Mr Polin was chief executive.

Mr Polin said: “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.”

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