Press Release

WMA and Sanlam Private Wealth kick start debate on how pensions freedoms will impact Wealth Managers

3rd November 2015

The Wealth Management Association (WMA) and Sanlam Private Wealth (Sanlam) have joined forces to kick start the debate around pensions freedoms and their implications for wealth managers at a roundtable to be attended by industry leaders. The event will be held on 5 November and the output will appear in a whitepaper on the debate’s conclusions.

The event will be chaired by academic Dr Paul Cox, of Birmingham University, who recently produced a retirement white paper for Sanlam entitled Helping Consumers and Providers Manage Defined Contribution Wealth in Retirement. The report looked in detail at longevity, wealth and risk as well as the array of solutions currently available in the market.

Attendees will discuss the implications pensions freedoms have for wealth managers, investment strategies and their suitability.

Topics covered will include:

  • What is the best way for investors to take an income and to what extent is this an issue for the wealth manager and pension adviser?
  • Will wealth mangers require greater pensions knowledge?
  • What is the most cost effective and tax efficient way for investors to pass on assets?
  • What are the impacts of income requirements or capital payments on investment strategies and suitability?
  • What key information will firms need to meet their suitability obligations?
  • What are the respective suitability responsibilities of the financial adviser and wealth manager?
  • Are there lessons to be learned from other parts of the world?

Liz Field, WMA Chief Executive said:

“The new pension reforms that came into being on 6 April 2015 have had a material impact on the UK pensions, and therefore investment, landscape and given significant flexibility and freedom.

“These changes are welcomed by the WMA as we believe people should be given the choice in how they choose to manage their finances ahead of retirement. Investing in a pension is often one of the biggest investments an individual makes during their lifetime.  However this new landscape brings with it a set of questions and challenges that need to be carefully considered.

“As a thought leader and facilitator the WMA, in conjunction with Sanlam, are keen to ensure that the wealth management industry has ample chance to analyse these opportunities and challenges. This roundtable discussion provides a valuable forum for firms to ‘deep dive’ into the issues and some of the implications for both investors and firms”.

Charles Brand, Head of Portfolio Management at Sanlam, said:

“The freedoms offered to pension investors by George Osborne have been broadly welcomed by investors and commentators. However, one of the biggest challenges for the wealth management industry is how best to manage investments in the light of this paradigm shift.

“There are a myriad of questions and related challenges, from ones that impact directly on managers themselves to the core question of how to manage drawdown money safely and sensibly for clients, with the growing number of retirees now opting for drawdown rather than taking annuities.”


Notes for Editors

About the Wealth Management Association (WMA) 

  • The Wealth Management Association (WMA) is a trade association that represents 186 wealth management firms (full members) and associate members who provide professional services to our full member firms.
  • WMA members firms look after over £670 billion of wealth for over 4 million retail investors.
  •  WMA full members deal in stocks, shares and other financial instruments for individuals, trusts and charities through a range of services spanning execution only, advisory and discretionary fund management.
  • The WMA exists to support its members and their clients in the following ways:
    • To be an advocate for the sector with governments, regulators and the wider financial services community;
    • To influence policy and also decision makers within the wider sector to the benefit of WMA members and their clients;
    • To research and provide definitive information about the sector as required for members and in support of the influencing and advocacy objectives;
    • To be a thought leader, to lead and stimulate debate and make members aware of emerging trends; challenging and provoking change.
    • Facilitating the sharing of good practice, enabling the membership as a whole to benefit from the latest developments affecting the sector as well as providing support to enable them to develop good prescribe and overcome challenges.
  • WMA firms operate across more than 580 sites, employing over 32 000 staff.
  • These firms also run over 5.5 million client portfolios and carry out over 20 million trades a year.


If you would like further information on this release or other press matters please contact:

Switchboard: 020 7448 7100


About Sanlam Private Wealth

If you would like to receive a copy of Dr Paul Cox’s white paper, Helping Consumers and Providers Manage Defined Contribution Wealth in Retirement, please contact Christopher Dean on the details below.

Sanlam Private Wealth (UK) is a leading investment and wealth management firm, formed from private client businesses with a history reaching back over 25 years in the UK. Sanlam Private Wealth employs around 180 investment professionals in the UK and also has activities in Australia, South Africa and Switzerland.

Sanlam Private Wealth offers active investment management through bespoke portfolio solutions and tax efficient investments for high net worth individuals, families, trusts, charities and businesses. It also offers stockbroking investment services for those who prefer to be involved in managing their own portfolio. In the UK, it has assets under management of £2.2 billion as of December 2014.

It is headquartered in London with regional offices in Sevenoaks, Bath, Marlow, Harrogate, Teesside, Kirkby Lonsdale and Newcastle upon Tyne. In addition to supporting clients directly, it has a well-established team which works with professional advisers.

In the media is particularly well known in the media for its bi-annual Income Study and White List, which has been identifying the top performing UK Equity Income Funds for over 20 years.

Sanlam Private Wealth is part of the Sanlam Group, a listed South African firm with operations in the UK, US, Africa, India and South East Asia. Sanlam attained its size, strength and reputation by blending the benefits of having a large secure parent company, whilst focussing on individual relationships by employing highly qualified professionals in local offices, who have the freedom to cater for the specific needs of local residents and business communities. The Sanlam Group has a market capitalisation R167.3 billion ($14 billion) of and total asset base of R875 billion (US $72.1 billion)


For further information, please contact:

Christopher Dean, Head of Marketing
Sanlam Private Wealth
020 7280 8722

Bernadette Motion, Energy PR
07932 620284/+44 (0) 1993 823011