Thesis to move under Sanlam brand
Sanlam UK chief executive Jonathan Polin
Sanlam UK is to acquire Thesis Asset Management, bringing its UK private
client discretionary assets under management to £4.2bn, PA's sister
magazine Investment Week has revealed.
The deal, which is for an undisclosed fee, means Thesis' private
client business, distribution network,
direct support teams and Pallant, its financial planning business, will operate under the Sanlam UK brand, subject to regulatory approval.
Thesis' business development team and four private client businesses will move to become part of the Sanlam wealth management business, while Thesis' offices in Guildford, Lymington, Chichester and Brighton will also become part of Sanlam's regional wealth management network.
The deal does not include the Tutman business, its fund administration arm.
In a statement, Thesis said: "We have sought to find an acquirer that matches the Thesis culture of client focus and professionalism. In Sanlam, we believe clients, staff and business partners will find that this culture is embedded into the group."
Jonathan Polin, Sanlam UK chief executive, said: "Thesis is a high-quality business and an important strategic fit for Sanlam in the UK. It was clear from the outset of our discussions with the Thesis management team that we were fully aligned in terms of investment philosophy, culture and an unwavering commitment to client service.
"We have high ambitions to make Sanlam a leader in client-centric wealth management and our acquisition of Thesis is an important milestone in that journey.
"The entire Sanlam family is looking forward to welcoming our new colleagues and working together to meet the financial needs of our clients."
Strategy
In 2016, when Polin became chief executive, the group set out a strategy to become one of the UK's leading wealth management service providers.
Since then, the firm has been on the acquisition trail of advisory firms; on 16 April 2019, the firm announced it has bought Newcastle-based Blackett Walker and in February 2018 it acquired Yorkshire-based financial planner Grennan Advisors.
On the latest acquisition, Thesis' managing director David Tyerman said: "Sanlam is a name synonymous with innovation and high-quality service, meaning it is an excellent fit for our business and a natural home for our clients. During our discussions with Sanlam, we were impressed with their passion for delivering clients' investment goals and their commitment to providing the personalised service our clients rightly expect.
"We are excited about our partnership with Sanlam and the new opportunities it provides for our clients."
Thesis' statement said there will be no change to personnel, service or fees and "all clients will be introduced to an enhanced proposition once the business is fully integrated".
Thesis' asset management business has approximately £15.2bn assets under management and administration. It was established in 1974.
It has a range of model portfolios, as well as an AIM mandate and Optima range, featuring income and growth strategies.
Globally, Sanlam employs over 17,000 people and manages $70bn of client assets. In the UK, it has a network of 13 regional offices and employs 450 professionals.
In total, Sanlam UK manages £12bn in assets under management or influence, including £2bn for its wealth planning business and £2.7bn for its discretionary fund management business.
Its boutique asset management and fund business is responsible for £5.9bn.
direct support teams and Pallant, its financial planning business, will operate under the Sanlam UK brand, subject to regulatory approval.
Thesis' business development team and four private client businesses will move to become part of the Sanlam wealth management business, while Thesis' offices in Guildford, Lymington, Chichester and Brighton will also become part of Sanlam's regional wealth management network.
The deal does not include the Tutman business, its fund administration arm.
In a statement, Thesis said: "We have sought to find an acquirer that matches the Thesis culture of client focus and professionalism. In Sanlam, we believe clients, staff and business partners will find that this culture is embedded into the group."
Jonathan Polin, Sanlam UK chief executive, said: "Thesis is a high-quality business and an important strategic fit for Sanlam in the UK. It was clear from the outset of our discussions with the Thesis management team that we were fully aligned in terms of investment philosophy, culture and an unwavering commitment to client service.
"We have high ambitions to make Sanlam a leader in client-centric wealth management and our acquisition of Thesis is an important milestone in that journey.
"The entire Sanlam family is looking forward to welcoming our new colleagues and working together to meet the financial needs of our clients."
Strategy
In 2016, when Polin became chief executive, the group set out a strategy to become one of the UK's leading wealth management service providers.
Since then, the firm has been on the acquisition trail of advisory firms; on 16 April 2019, the firm announced it has bought Newcastle-based Blackett Walker and in February 2018 it acquired Yorkshire-based financial planner Grennan Advisors.
On the latest acquisition, Thesis' managing director David Tyerman said: "Sanlam is a name synonymous with innovation and high-quality service, meaning it is an excellent fit for our business and a natural home for our clients. During our discussions with Sanlam, we were impressed with their passion for delivering clients' investment goals and their commitment to providing the personalised service our clients rightly expect.
"We are excited about our partnership with Sanlam and the new opportunities it provides for our clients."
Thesis' statement said there will be no change to personnel, service or fees and "all clients will be introduced to an enhanced proposition once the business is fully integrated".
Thesis' asset management business has approximately £15.2bn assets under management and administration. It was established in 1974.
It has a range of model portfolios, as well as an AIM mandate and Optima range, featuring income and growth strategies.
Globally, Sanlam employs over 17,000 people and manages $70bn of client assets. In the UK, it has a network of 13 regional offices and employs 450 professionals.
In total, Sanlam UK manages £12bn in assets under management or influence, including £2bn for its wealth planning business and £2.7bn for its discretionary fund management business.
Its boutique asset management and fund business is responsible for £5.9bn.
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