SANLAM PRIVATE WEALTH/iTRADE
OVER THE PAST YEAR Sanlam Private Wealth and Sanlam iTrade have been integrated, with the aim of providing clients with a more seamless experience.
The Private Wealth side focuses on advice and provides clients with risk analysis and comprehensive financial planning. Online trading is conducted through iTrade, which uses Swordfish and Iress’s PerFIX platform for derivatives trading.
The firm’s target market is traditional investors. These clients are taken through a rigorous risk and suitability assessment process. Clients are then matched to one of Sanlam’s model portfolios. Bespoke service is guaranteed.
Day traders have access to a dedicated derivative desk that services clients trading in leveraged products. These include index futures, single stock futures, CFDs, IDXs, currency and interest rate features. Regular trading ideas are provided and every branch has a derivative specialist who deals with nondiscretionary clients.
Clients with more complex needs have access to tax and fiduciary services and portfolio managers. Sanlam also provides scrip lending and borrowing facilities, which provide equity release. Tax-free savings accounts have been introduced.
The firm places a high premium on extensive advice and came second in the Top Advice Broker category, but falls a bit short on value-for-money ratings. Clients express high levels of satisfaction.