Thanks to the partnership with Flagstone, Sanlam clients will be able to use the Flagstone platform to quickly and easily spread their cash across hundreds of FSCS* protected deposit accounts provided by more than 40 banks and building societies, including Santander, HSBC, Barclays and Nationwide. Private clients can diversify their cash to benefit from full FSCS protection.
Sanlam believes the choice, flexibility and security provided by this new cash proposition compliments its holistic financial planning and investment offering perfectly.
Elliot Silk, Head of Commercial at Sanlam, said:
“Sanlam Wealth Planning are very pleased to partner with Flagstone. Our clients have a need to be able to access competitive interest rates for their cash deposits with the ability to open accounts easily and diversify their savings to ensure that their money is protected by FSCS limits.
We believe that there will be a greater need for cash deposit services in light of NS&I reducing rates across their range of products and, by partnering with Flagstone, we will be able to add greater value to our client relationships.”
Simon Merchant, Co-Founder and CEO of Flagstone, said:
“We are looking forward to partnering with Sanlam to help their clients make the most of their cash by enabling them to diversify their deposits across the platform’s extensive panel of banks and providing them with ongoing access to exclusive rates.
Our existing partnerships with a number of the UK’s largest and most forward-thinking wealth management companies have already demonstrated the value that the platform can deliver for clients and their advisers. The Flagstone platform enables clients to make their cash work harder and strengthens the adviser’s value proposition; consolidating the relationship and giving the adviser a more holistic understanding of their clients’ wealth.”
NOTES TO EDITORS
Flagstone is an FCA authorised and regulated fintech company located in London and founded in 2013. It has grown rapidly to become the leader in the UK cash deposit platform market having transmitted more than £5bn in deposits since 2015. Flagstone’s online cash deposit platform enables companies, charities and individuals to earn more interest and reduce risk through diversification. Completion of a single application gives the client access to hundreds of deposit accounts from 48 banks and enables them to research and open multiple accounts in seconds. The platform puts clients in control of their cash, giving them access to market-leading and exclusive rates from a growing panel of UK banks, consolidated reporting and regular new rate alerts to ensure that their cash is working as hard as possible for them 24/7.
Sanlam Limited is an international financial services group with a listing on the Johannesburg Stock Exchange and a market capitalisation of £10.2 billion. Established in 1918, the group provides a range of services to over 10 million clients globally, including insurance, financial planning, investments and wealth management.
Sanlam UK is led by CEO Jonathan Polin. The firm consists of several long-established businesses, including:
- Sanlam Private Wealth: The discretionary fund manager with £2.7 billion of client assets under management
- Sanlam Investments: The boutique asset management and fund business which manages over £5.7 billion in both single strategy and long only funds, specialist multi-asset solutions and captive fund solutions.
- Sanlam Investments & Pensions: The life and pensions business administering in excess of £3.0 billion of assets.
- Sanlam Wealth Planning: The national financial adviser with nearly £2 billion of client assets under advice and 55 UK-based advisers.
- Sanlam Partnerships: The network for financial planners with membership of over 100 IFAs.
In total, the firm has over £12 billion of assets under management or influence. Sanlam UK attained its size, strength and reputation by leveraging the benefits of having a large secure South African parent company while focussing on individual client service delivered locally in the UK.
* Financial Services Compensation Scheme (FSCS) deposit protection is £85,000 per depositor per authorised bank (and £170,000 for joint accounts). For more information go to fscs.org.uk
For more information please contact: Simon Merchant – Co-Founder and CEO, Flagstone