Sanlam Guernsey has outsourced the product distribution to specialist distribution firm Adviser Advocate.
As per the agreement, Adviser Advocate will distribute Sanlam’s products to IFAs in the UK, according to International Adviser.
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The distribution deal aims to generate increased volume and quality of cash flow, cost reductions and cost controls leading to ongoing profit improvements.
Adviser Advocate, which was founded by former Axa Wealth International sales and marketing manager Richard Leeson in August last year, offers product providers a network of business development managers who have relationships with IFAs across the UK.
Sanlam’s outsourcing decision follows a re-launch of its offshore bond in November thereby capping its overall client charges.
John Croft, head of UK and Europe at Sanlam said: "In the post RDR world the days of unlimited charges on offshore bonds are over, Sanlam Global Investment Solutions recognise the strain this places on client returns and have introduced a brand new pricing model."
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