Fees  

Sanlam freezes fees for large firms as hike goes ahead

In addition to this, a number of advisers claimed a Sanlam representative told them that, to drop the new fees to the level they are currently paying – approximately £10,000 – they would have to put clients’ money into Sanlam and essentially become restricted, only advising on Sanlam products.

One adviser said they were unprepared to do this, while the other deemed this proposal “disgraceful”.

amy.austin@ft.com 

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