Sandringham moves to Independent Financial Adviser status

  • Whole of market, unrestricted approach
  • 90% improvement in turnover compared to 2016
  • 48% increase in gross profit in 2017

Sandringham Financial Partners (Sandringham), one of the leading national advice firms in the UK, has announced it has moved from a restricted advice proposition to whole of market, independent status.

Following robust changes to Sandringham’s offering over the last few years to strengthen customer engagement and to help its Partners in building proficient businesses, Sandringham has invested heavily in its technology and support provided to advisers. As a result of this investment, Sandringham has improved turnover by 90% in comparison to 2016; seen a 48% improvement in gross profit since 2016 and assisted 83% of Partners in increasing their income.

These developments have afforded Sandringham the opportunity to review its entire investment approach and operations and to transition from a restricted offering to a whole of market advice firm. This change in definition has been communicated to the FCA in the spirit of the FCA principles for business.

Sandringham’s move to Independent Financial Adviser status will not affect its investment service as the firm has been whole of market for some time. Sandringham starts from a whole of market position, research is then undertaken by the Investment Committee, and independent research firm, RSMR, provides the necessary Governance and Oversight. This approach creates a risk rated investment panel for advising Partners to recommend to clients.

The resulting offering provides a comprehensive and fair analysis of the market, free from bias or any restrictions that would limit the range of solutions that can be recommended to clients. Sandringham currently provides access to 13 distinct fund styles across 61 portfolios and funds from nine managers, affording it its independent status.

Tim Sargisson, CEO of Sandringham Financial Partners commented:

“Over the last two years, we have seen an impressive increase in both our gross profit and our Partners’ income. Indeed, 23% of our Partners have increased their income by over 50% since 2016. As the business has grown, Sandringham’s investment service has advanced and improved to the point it now fulfils the criteria demanded of an Independent Financial Adviser.

“The term ‘independent’ continues to be viewed as a mark of the highest professional quality amongst advisers. We are very proud to be classified as truly independent, and as part of our newly defined status, we look forward to recruiting more Partners of the highest calibre and helping them to provide the best possible advice to their clients to achieve their financial goals.” 

Geoff Mills, Director of RSMR commented:“We are delighted to have been engaged by Sandringham as part of their investment committee, and we look forward to continuing our support of their robust investment process. This is all designed to deliver good customer outcomes from an investment proposition that operates without bias”.

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