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Sanlam eyes personalisation for DFM growth

 

Sanlam has said it hopes to grow as a discretionary fund manager by offering tailored solutions to advice firms.

Lawrence Cook, the company's head of UK intermediary distribution, said this would allow advisers to "retain the integrity" of the service they delivered.

Last year Sanlam bought DFM Thesis Asset Management for an undisclosed sum, bringing its private client discretionary assets under management to £4.2bn. 

Mr Cook said: "Managing investment solutions on an advisory basis has always been quite challenging because of the mechanics of how that needs to be administered.

"But since the advent of Mifid II that has added an extra level of burden.

"We are hearing from advisers that to maintain a relevant, up-to-speed advisory portfolio is very difficult. A lot of advisers have been victims of their own success, performance has been pretty good over the last few years.

"Clients are happy with the returns but actually to be able to maintain or even stand still, for some firms has been really really hard.

"It is about us delivering their proposition as opposed to us selling them our proposition and that's quite a different emphasis because many IFAs have spent many years building up a reputation for delivering a great financial and investment solution.

"So we can put our own investment services around that to be able to deliver the IFAs proposition in a much more streamlined way."

damian.fantato@ft.com