View more on these topics

Sanlam acquires 60 per cent stake in Buckles

South African financial services group Sanlam has acquired a 60 per cent stake in adviser firm Buckles.

Sanlam group chief executive Dr Johan van Zyl said that the acquisition of Buckles reflects further progress in the Sanlam Group’s strategy of growth and diversification through selective acquisitions and geographic expansion.

Sanlam’s acquisitions in the UK over the past four years include Merchant Investors, the operations of Nucleus, Principal and Intrinsic.

Van Zyl says: “We believe the aggregation of IFAs in the UK market provides a significant opportunity to build on our initiatives aimed at establishing a substantial and leading advisory and wealth management business in the UK. Buckles meets all the criteria as a top quality intermediary business we were seeking for this purpose.

Buckles chief executive Nigel Speirs says: “We are delighted to have received the backing of Sanlam, which will help us achieve our targets for the future. The investment will enable us to continue our programme of acquiring the businesses of IFAs who wish to retire, with the assurance that their clients will continue to be well looked after. Over the last five years we have acquired some dozen client banks in Wales and the North West and we have identified many more.

“Our award winning graduate training and development programme, which has produced a stream of fully qualified professional advisers, has been a great success. With the backing of Sanlam, we aim to roll the programme out in other parts of the country.

“We plan to continue to expand, building on our very strong administration and support team that has enabled us to provide our advisers with the best possible para planning, IT backup and HR services.”

Recommended

Setting sales

Does the regulator believe that financial services and products are bought or that they are sold?

Adviser fears allayed on offshore client tax

The Treasury has allayed fears that advisers could be hit by changes to non-dom legislation by promising a tax exemption on fees paid by offshore clients.Last week’s International Money Marketing revealed concern from tax experts and industry groups that fees to advisers from offshore clients would count as remittance to the UK, meaning the client […]

Firms under fire for defending lenders

SimplyBiz and Mortgage Next have hit out at an open letter to brokers signed by mortgage clubs and networks, suggesting its support for lenders shows a lack of loyalty to brokers and borrowers.

Money Marketing Markets: ‘Rate cuts, Libor and teacakes’

Even the Bank of England’s Wednesday interest rate cut could not save the market from falling this week and its lack of impact is indicative of the problems in the banking sector.Rate cuts are typically priced into the stockmarket well ahead of their announcement but the latest 25 basis point reduction was notable for having […]

Global income: preparing for a rate rise…

In the five years since we launched the Artemis Global Income Fund, its manager Jacob de Tusch-Lec has built a distinctive portfolio that is first among its peers. Here he explains why his “quality, cyclical and value yield” stocks, and flexible approach, leave the fund better placed to benefit from uncertainty than funds that depend […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com