PRINCIPAL AN OVERVIEW BY HUGH TITCOMB CHIEF EXECUTIVE OFFICER
Principal - A Summary ● A leading discretionary portfolio management specialist ● Founded in 1987 ● 90 employees: 30 Investment Managers ● Providing investment management services to: i. Private individuals ii. Trusts iii. Pension funds iv. Charities v. Institutions ● Acquired by the Sanlam Group in 2008 ● Authorised and regulated by the Financial Services Authority
Principal - Service Proposition Private Client Division Retail Investment Management Division Institutional Division • Distribution via IFAs and direct • IFA partnerships / joint ventures • Sanlam Group mandates • Sales team / asset gatherers • Model portfolios • External mandates • Cross selling • Use of in-house and third party platforms • Wealth management opportunity • Distribution via SUK sales team Shared services • Common asset allocation / stock / fund selection processes • Common compliance, finance and operational support
Assets Under Management: 2009 – 2010 (£m) • 1200 • 1000 • 800 • 600 • 400 • Dec 08 • Jun 09 • Dec 09 • Jun 10 • Sept 10
Wealth Management - Strategic Rationale ● Increasing requirement for individual ownership of financial affairs. ● Tarnished reputation of some existing service providers. ● Poor investment/advice experience suffered by some in recent past. ● RDR will result in reduced number of financial advisors – but increase the opportunity for those remaining. ● Estimated market size (UK) Ø Affluent (£ 100 k+) 1. 8 m+ Ø HNW (£ 500 m+) 500, 000+ Ø UHNW (£ 5 m+) 150, 000+
Wealth Management Proposition Investment Management - Pensions Other wrapped monies Taxable portfolios Execution only Private equity/property investment § Estate planning § Trust advice/structures Holistic, integrated financial solutions Banking - § Tax planning Client Debt management advice C/F advice Credit facilities Deposits/FX § Philanthropy Protection products - Life cover - Critical illness - Health
UK Wealth Management – competitor landscape
Wealth Management Proposition – Sanlam UK In-House Out-Sourced ● Investment Management ● Banking/credit facilities. ● Protection products. - Pension monies incl drawdown portfolios; ● Access to bespoke/club - Other wrapped monies; investment opportunities eg - Taxable portfolios incorporating CGT mgt. private equity/property - Execution only. Client ● C/F advice. ● Tax planning. ● Trust structures. ● Estate planning. ● Offshore UK booking centres. ● Trust advice. ● Debt management advice. Service Model ● Fee based. ● Relationship, client centric approach based on trust and quality service. Target market • HNW with investable assets of £ 500 k+ or income of £ 150 k+ pa. • Affluent with investable assets of £ 100 k+ • Sanlam’s offshore private clients. investment.
Critical Success Factors ● People Ø Ø Strong business development/distribution capabilities; Ø Experienced and credible; Ø ● Strong relationship management capabilities; Appropriate incentive/retention mechanisms. Service offering Ø Ø Robust and reliable investment performance; Ø ● Quality and trusted products and service - offering value for money; Transparent pricing. Operational Ø Ø ● Service excellence; Systems capability including consolidated reporting. Communication/positioning Ø Avoiding concerns amongst existing IFA introducers re “encroaching on their patch”.
Скачать презентацию PRINCIPAL AN OVERVIEW BY HUGH TITCOMB CHIEF EXECUTIVE
1963330c27b36c19de7e9913e14779b2.ppt