According to Sanlam, the acquisition, as well as the 19.9% stake it has taken in its holding company CAERUS Capital Group is part of a “long term journey” that it expects will ultimately end in the unification of the two businesses. But, Lukas van der Walt, Sanlam UK CEO, added: “While our vision and objective is unification, the fundamental rationale behind our partnership is to serve customer interests”.
He said the firm has made no secret of its vision to become a leader within the UK wealth creation space.
“We are committed to the vertically integrated distribution model in this country believing it best suited to delivering positive customer outcomes. We’ve been extremely impressed with both the management and advisory team at CAERUS and it’s obvious to us that, coupled with our product and investment expertise, we can build a force to be reckoned with.”
CAERUS Capital Group operates a network of restricted and independent advisers, with discretionary management services provided by CAERUS Portfolio Management. On completion of the deal, which remains subject to FCA approval, all investment management activities will be outsourced to Sanlam FOUR.
According to Sanlam, the equity investment in CAERUS Capital Group will provide capital to immediately “accelerate and intensify the development of the CAERUS advisory service for Clients, in terms of both quality and scale”.
The partnership will also ensure appropriate succession planning for the advisory firms within CAERUS.
