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First firm joins Sanlam's partnership scheme

First firm joins Sanlam's partnership scheme

A Buckinghamshire chartered financial planning business has become the first firm to join Sanlam's partnership programme.

Ergowealth, based in Marlow, provides investment and lifestyle financial planning services to private clients, businesses, charities, accountants and solicitors.

As a member of the partnership scheme it will retain ownership of its business and its clients but have access to Sanlam’s expertise in human resources, IT and compliance.

Alastair Whitehead, founder and chief executive of Ergowealth, said: "At a time of consolidation in the advice market this move secures the longevity of our business. We will now be pursuing a growth plan over the next five years through recruitment and acquisition to build Ergowealth into the leading chartered financial planning firm in the region.

"Over the last 18 months we have had conversations with a number of consolidators and investors active in the UK advice market. The Sanlam partnership proposition was unique, enabling access to capital to grow without compromising our business model, without prejudicing the interests of our clients or our staff, and without losing control of either the ownership or the management of our business."

Sanlam Partners was launched in 2017 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.

Last year the company also bought Tavistock Financial’s network of 158 advisers in a £1m deal to boost its presence in the advice marketplace.

John White, chief executive of Sanlam UK’s wealth division, said: "Ergowealth is a high quality and well run business that, like Sanlam, is committed to putting clients first. Our partnership programme has been designed to give adviser firms like Ergowealth the tools and support they need to grow while continuing to deliver a relevant, outcome-driven service to their clients.

"We are delighted Alastair and his team are the first firm to join our partnership programme and look forward to working together."

damian.fantato@ft.com