A successful transition from restricted to independent
In 2017, Sandringham transitioned from a restricted advice model to offering independent advice, a process that was relatively smooth as we had never subscribed to vertical integration.
We are now one of the UK’s fastest-growing IFA firms, with 177 advisers, managing around £2.2bn for over 17,000 clients and we were thrilled that 80 of our advisers were included in the VouchedFor Top Rated Guide 2020.
Risk categorisation
Advisers at Sandringham have a range of risk-categorised funds which they can recommend, after having undertaking a thorough risk analysis to identify the client’s risk level. The adviser then fine tunes the portfolio depending on whether income or growth is required and whether a passive, active or combined approach is preferred.
Expansion of offering
Sandringham’s investment approach in the past was traditionally in multi-assets, but since becoming independent, we have expanded the range to include advisory and discretionary model portfolios. Currently around half of Sandringham’s clients use portfolio solutions, with the rest in multi-asset. Of those clients using portfolio models, around 60% are on a discretionary basis.
Typical client
The majority of Sandringham’s clients are investing for growth and have defined objectives, with differing time frames and we find that clients like the reassurance that their adviser is with them throughout the whole financial journey. There is also a proportion of clients who are typically older and looking to generate income or release capital. For clients who are looking to preserve wealth to pass it down the generations, different levels of risk will be identified and recommendations made accordingly.
Sandringham’s proposition
As a directly authorised IFA we take independence very seriously and therefore take no margin gain from any investment house, platform or provider. This enables us to focus on our Advising Partners’ objectives to build proficient, profitable and future-proofed businesses. It’s then the individual adviser’s choice as to how they build the client’s planning solution, with our guidance and support always based upon great client outcomes, super suitability.
If you are interested in joining us for the next exciting phase of our expansion, please contact us. https://recruitment.sandringham.co.uk/speak-to-us/
This article is a summary of an interview in April’s edition of Professional Adviser with Tim Grey, Chief Operating Officer at Sandringham Financial Partners. You can read the full article here https://www.professionaladviser.com/feature/4013135/adviser-investment-propositions-firm-restricted-independent
