Sanlam UK says its Sanlam Private Wealth advisers will offer a “hybrid” advice model with clients first offered a restricted model based around Sanlam products and services with the option to go whole of market if this does not meet their needs.
The firm has also announced a partnership with Wiltshire-based adviser firm Statehouse Financial Management to offer its clients this hybrid advice model.
Statehouse is one of the first firms to become part of the hybrid scheme and will remain directly authorised by the FSA. Sanlam is in talks with around 15 firms.
Sanlam Private Wealth, formerly Buckles, announced last year that it would be offering a restricted service post-RDR due to the costs involved in remaining independent. SPW has around 50 advisers.
Sanlam UK head of distribution Nigel Speirs says: “We believe the client proposition we have developed since the pronouncements of RDR will be market leading.”