Sanlam to launch simplified wrap; Buckles rebrands

Sanlam UK is rebranding several of its subsidiaries, including Welsh IFA Buckles, as well as launching a simplified wrap aimed at the discretionary fund management space.

The initiative will see Merchant Investors and its subsidiaries re-branded as Sanlam Investments and Pensions from April 6, whilst Buckles Investment Services will be renamed Sanlam Private Wealth in May.

Sanlam Private Wealth will also move from being independent to restricted  post-RDR. 

"Over a period of some eight years Sanlam has acquired and invested in its subsidiaries and we now feel the time is right to leverage the strength of the Sanlam brand," says CEO Lukas van der Walt.

Meanwhile, Sanlam's discretionary management business Principal Holdings will promote the Sanlam brand for business sourced and serviced in conjunction with Sanlam Distribution UK, Sanlam Investments & Pensions and Sanlam Private Wealth. It will continue to use the trading name of Sanlam Fund Solutions in this regard.

However, Principal Investment Management and Border Asset Management will retain their trading names for non-Sanlam sourced business.

Meanwhile, van der Walt revealed Sanlam Investments and Pensions is set to launch a "wrap-light" platform proposition combining its Accel Risk Profiling tool with a range of seven model portfolios in a portal for discretionary fund managers (DFMs).

Set for roll-out in May, Sanlam Portal is designed for DFMs to run portfolios on behalf of IFAs and their clients. The simplified, open-architecture wrap holds four wrappers - an ISA, SIPP, general investment account and bond - and will be available to both Private Wealth and third-party clients. It will initially launch with Principal (Sanlam Fund Solutions) managing the portfolios before linking up with other DFMs.

The simplified wrap proposition will be available to all IFAs using Sanlam's Accel Risk Profiling tool. Its seven portfolios will be colour-coded - as opposed to using terms such as ‘cautious' and ‘balanced' - to give a more accurate gauge of the client's risk profile as calculated from the Accel tool.

"Those parties which have adopted Accel will see the portal as a natural extension," says Sanlam UK head of distribution Nigel Speirs (pictured).

Van der Walt says the portal's restricted range of funds and lack of complexity will help de-risk adviser businesses and consequently "give comfort" to IFAs.

He adds the new "focused wrap" is a clearly defined offering and stressed it will not compete with the Nucleus wrap, in which Sanlam UK has a 43% stake.

"If an IFA wants to manage portfolios they can go to Nucleus and if they want discretionary fund managers to manage them they can come to us," he says.

Elsewhere, van der Walt says the group is "actively looking" at new acquisitions as it looks to significantly expand its UK footprint.