Sanlam UK has confirmed plans to close down its adviser network business Sanlam Partnerships.

The firm said that the increased scale and systems capacity need to grow a financial adviser network no longer fits with its business model.

“All adviser firms have been informed of the decision and Sanlam will be working closely with those businesses to find new, high-quality networks and relationships to help support continuity to clients,” stated the firm.

Sanlam Partnership provides a range of outsourced investment products and services to independent financial advisers.

The firm did not offer any timeline for the wind-up of the unit.

Recently, Sanlam Wealth CEO John White left the firm. White was replaced by Sanlam UK chief executive Jonathan Polin as interim head of the unit.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Other developments at Sanlam UK

In September 2020, a financial advisory business set up by ex-Rugby player Francois Louw, joined Sanlam Partnerships.

In August last year, Sanlam UK announced its service Sanlam on Demand that provides no obligation, 30-minute virtual financial consultations.

In March last year, the company made leadership changes for its Harrogate office, including the appointment of Eleanor Ingilby as the head of the office.

In 2019, it acquired Thesis Asset Management for an undisclosed sum.

The deal included the private client business, distribution network, and direct support teams of Thesis.

The same year, Sanlam UK bought a 55% stake in Cheshire-based Avidus Scott Lang for an undisclosed amount.