View more on these topics

Sandringham eyes new graduate program under independent status

Newly-independent network Sandringham Financial Partners will look to launch a graduate academy program by 2022.

Speaking with Money Marketing, Sandringham chief executive Tim Sargisson says expansions to its current academy would be outlined in a five-year plan to be released in late May or early June.

Sandringham partnered with Redmill Marketing Associates to launch its in-house academy at the start of the year to boost adviser qualifications ahead of its move to the independent market.

The current Sandringham academy hosts in-house advisers, as well as those under its wider network.

Sargisson says: “We saw this firstly as a way of advisers being able to upscale from level 4 to level 6 to chartered status with all the training modules and all the support you need on one site. We have since licensed it from Redmill, branded it as Sandringham Academy, and see it as a place to host professional development.

“We’ve got our own staff going through it, they are taking their exams through it, and we hosting a lot of the support work on there including our marketing training module that our advisers now have to go through because of our move from restricted to whole market advice.”

Sargisson says a graduate program will be designed to give outgoing advisers a stable exit-strategy.

He says: “We will bring graduates into Sandringham and we will train them through the academy to level 4, and then for partners who want to retire, we’ll look at moving the clients across to an in-house adviser, working with the retiring partner to migrate the clients across.”

Sargisson blamed the label of restricted advice as a barrier to attracting advisers when announcing Sandringham’s move to independent status on Tuesday.

He said: “Restricted is still seen as an inferior offering for advisers and clients [but] I see the academy as a way forward for giving advisers an exit and to encourage a new breed of younger adviser into the industry.”

Recommended

Tablet-Technology-Computer-Business-700x450.jpg

Invesco plots D2C investment proposition launch

Fund manager Invesco Perpetual is considering launching a direct-to-consumer investment offering, Money Marketing understands. It is thought the D2C proposition would be a robo-style investment manager, akin to those currently on offer from firms such as Nutmeg, Scalable Capital and Moneyfarm. A launch expected in the autumn, according to sources close to the launch. Invesco […]

Fidelity cuts fees as new equity index funds launched

Fidelity International has launched six cross-border equity index funds and further reduced the pricing on three of its UK-domiciled OEIC index funds. The range of six Irish-domiciled ICAV funds cover the US, Europe, Japan, Pacific ex-Japan, developed global and emerging markets. Fees start at 0.06 per cent for the S&P 500 fund, increasing to 0.20 […]

Zurich HQ

Zurich sells out of Openwork

Zurich has sold off its 25 per cent stake in Openwork, effectively turning over control of the network to its advisers. The provider first set up the network in 2005. Money Marketing first reported that plans were afoot to divest its stake in 2015 as part of a long term transition plan. Zurich confirmed this […]

Invest-Performance-Portfolio-Fixed-Income-Graph-700x450.jpg

Don’t bank on a hike just yet

Jonathan Platt, head of fixed income at Royal London Asset Management, highlights three bond market trends this week and says don’t bank on a hike just yet. Read the article here The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment