“Sanlam shifts sub-£300k clients to ease pressure on wealth managers”

Mar 4, 2020 | Financial Services

Good news for independent advisers. The more private banks and others who seek to ditch what they consider to be ’small’ clients, the better for those of us who still think £300,000 is quite a lot of money. Sanlam say they would like their ‘average portfolio size’ to be £1m; and I know many IFAs who won’t talk to anyone with less than a couple of hundred thou’ to invest. But, to quote Mr Nile Rogers (kids and or parents etc.), these are the good times. And as we’re now discovering, good times don’t last forever.

Read more here

advisors 1
“Simon Evan-Cook: FCA must wake up to consolidation damage”

“Simon Evan-Cook: FCA must wake up to consolidation damage”

This is where I can don my ‘been around the block, seen it all before’ mantle. What’s happening in our business/industry/profession at the moment is a lot of what’s become known as consolidation, big companies, many fuelled by private equity, buying up smaller firms or taking over the clients of retiring advisers.