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Sanlam Announces Further Growth

We announce the acquisition of the client bank of Chartered financial planning firm FA Watts Investment Managers Ltd. by Sanlam Wealth Planning Ltd. for an undisclosed sum. Sanlam Wealth Planning is the wealth planning arm of Sanlam in the UK and offers service and advice to both private and corporate clients.

Six members of the FA Watts team (three advisers and three back office staff) will immediately join Sanlam Wealth Planning. They will continue to work from their existing Fareham office under the Sanlam brand to ensure continuity of service and the maintenance of client relationships, thereby strengthening the Sanlam presence in the South of England.

This acquisition brings with it over £150 million funds under advice, a move which increases those held by Sanlam Wealth Planning to an amount in excess of £1 billion.

Alex Morley CEO Sanlam Wealth Planning: “Ours isn’t a strategy of simple acquisition, we leave that to the consolidators. Ours is a strategy of sustainable growth; growth that can be measured qualitatively and quantatively. We’re building a leading wealth planning business in the UK; a business admired for its processes, its performance and its focus on positive client outcomes; a business valued by its customers for its service and its ability to deliver to their needs.

That’s a big ambition and to achieve it we need to attract the right kind of people; those who demonstrate the right attitudes and behaviours and who naturally put the customer first. The team at FA Watts have consistently delivered superb service to their clients over many years and are precisely what we are looking for. Their collective experience, approach and dynamism are a superb addition to our team.”

Mike Mason Director FA Watts: “We were never interested in just selling our business and walking away. Our industry seems to exist in a constant state of flux and we became increasingly concerned about how to meet its evolving requirements whilst best serving the needs of our clients. We wanted to continue doing what we do but we made the decision to become part of something bigger.

We wanted to find a home with vision, unshakeable values, a commitment to the UK and a desire to create something new. We also wanted to work in an environment that understood and recognised the importance of the adviser/client relationship and where we felt our contribution would be valued. Most importantly, we wanted to work in an environment where our clients felt part of something special. Sanlam became the natural choice.”

Lukas van der Walt CEO Sanlam UK: “When we talk about Sanlam, what we do, how we do things and what we’re trying to achieve in the UK, we talk about being Wealthsmiths; about the need for diligence and hard work, about never taking short cuts, about the importance of expert knowledge and the requirement for excellence. We talk about the need to focus on what we do best, which is helping our customers to live the best lives possible, turning their money into meaning. We talk about the part we have to play in the community; again, something that concerns us greatly.

We’ve worked closely with the team at FA Watts for a number of years and I have no doubt that they share our values and ambition, firmly buying into our Wealthsmiths vision. I am delighted to welcome them into our Sanlam family.”

Investing involves risk and the value of investments and the income from them may fall as well as rise and are not guaranteed. Investors may not get back the original amount invested.