The chief executive of Sanlam Wealth has left the company with immediate effect after four and a half years at the firm.
John White left yesterday (July 27), and a spokesperson for the company confirmed that Jonathan Polin, chief executive of Sanlam UK, would take over as interim head of Sanlam Wealth.
White joined in December 2016, and was previously head of financial planning for Arthur Gallagher. He has also held roles at Robson Rhodes (now Grant Thornton), and Tenon (now RSM).
Polin has been at the firm for just under six years, and was previously chairman of Argonaut Capital Partners and group chief executive of Ashcourt Rowan.
Sanlam had caused a stir last year after it hiked its a minimum fee for ARs to £20,000 a year for all advisers advising on pensions and investments, regardless of turnover.
According to the adviser network about 30 appointed representatives handed in their notice and 10 had left the network by July, but Sanlam pointed out that fees were not necessarily the cause in all of these cases.
A Sanlam spokesperson said at the time: “Fewer than 10 have actually left. Around 30 have resigned, but a number are now reconsidering, having looked around. Not all are leaving due to fees; some are retiring and some are selling their business.”