Darren Cooke, chartered financial planner at Red Circle Financial Planning, said: “Some clients may decide they only want independent advice and leave their adviser. I know I could lose some clients if I went restricted. However, history shows us that actually doesn’t happen that often, and clients tend to stick with the adviser regardless.”
Sanlam has said that any company that wants to resign from the network will be able to retain its existing fee structure throughout its three-month notice period, despite the new fees coming in force from April.
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