Schroders has appointed Tim Sargisson as managing director of Benchmark Financial Planning.
Sargisson was previously chief executive of Sandringham Partners, the advice business which was bought by M&G Wealth in 2021.
He had been chief executive of Sandringham since 2015 and before that was chief executive of James Hay where he was involved in its sale from Santander to IFG Group.
At Benchmark, Sargisson will replace Peter O’Sullivan, who is retiring after a 36-year career in financial planning, the last six with Schroders.
Benchmark said Sargisson was an experienced leader and brought more than 20 years’ experience in wealth and financial planning.
Sargisson said: “‘I’m really looking forward to joining Benchmark and working alongside the outstanding team there.
“Over the last seven years, as their client, I’ve worked closely with them and seen first-hand their professionalism and commitment to the adviser community and the delivery of excellent client outcomes through the power of technology. To now be part of that is something special.”
As well as its own financial planning arm, Benchmark provides compliance services and platform technology to advisers.
Schroders bought a majority stake in the business in 2016 before increasing their holding and taking ultimate control of the business two years later.
Sargisson will oversee Benchmark’s financial planning business as it continues to build a presence across the UK through succession planning options and organic growth.
Ed Dymott, managing director of wealth at Benchmark, said: “Tim will be a great addition to our team and I’m really looking forward to working with him to grow our financial planning business. We are rapidly growing our national footprint and Tim will now lead that part of our business.
“Our proposition is resonating strongly in the market, and our financial planning business has provided over 40 firms options for their succession planning.”
Dymott said the firm had a pipeline of advisers wanting to join Benchmark.
“I also wanted to thank Peter for his enormous contribution to the business over the last few years,” he said.
“Benchmark Financial Planning has been transformed into one of the largest financial planners in the UK and is set up strongly for future growth. I am also pleased that Peter has agreed to stay on in an advisory role as he works towards retirement."
sonia.rach@ft.com
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