Sanlam UK, part of the South African backed international financial services group Sanlam Ltd, has added the first IFA to its partnership programme, since it was originally launched in 2017.
Chartered financial planning business, Ergowealth, has joined Sanlam Partnerships Ltd as the first IFA firm on its roster. The partnership – designed to allow IFA firms to retain ownership of its business and its clients – will allow the adviser to use Sanlam’s expertise in HR, IT and compliance, as well as utilise the company’s investment proposition, research and product range.
It also offers business consultancy and helps provides firms with access to capital should they need it.
Having been formed in 2013, Marlow-based Ergowealth has “a growing presence” across Southern England and provides investment and lifestyle financial planning services to private clients, businesses, charities, accountants and solicitors, Sanlam said.
John White, CEO of Sanlam UK’s Wealth division said: “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.
Alastair Whitehead, founder and CEO of Ergowealth, said that Sanlam’s “considerable capabilities and resources” will enable the company to “enhance its proposition” and to extend it into a “wider client community”.
“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 eighteen 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 Limited is an international financial services group with a listing on the Johannesburg Stock Exchange and a market capitalisation of £12.1 billion. Established in 1918, the group provides a range of services to over 10 million clients globally, including insurance, financial planning, investments and wealth management.