The 49% stake includes seven wealth management/financial advisory businesses which are independently owned by senior professional advisors based in Johannesburg, Cape Town, Pretoria, Durban and Richards Bay.
"This is very much in line with our current acquisition strategy," says Mark Duff, CEO of Graviton.”It embraces and harnesses the independence of the firms we acquire stakes in, fully supporting the continuation of their existing brand and investment strategies. This will further leverage the group’s ability to provide quality advice while driving investment performance for clients in the most appropriate structures.
Four years’ ago, Sanlam Investment Holdings established a separate entity, Graviton, to independently manage and house such acquisitions.
First Global is a registered financial service provider, manages six local and two offshore multi-manager funds and employs an in-house team to select and appoint sub-managers (from a universe of approved independent fund managers) to create optimum blends of funds within different unit trust sectors and risk categories.
Says Duff, the combined businesses will be able to offer a broader reach to meet client advice demands, and will further consolidate Sanlam Investments as a credible investment services provider with a common investment philosophy, strategy and process to deliver long-term wealth for our clients.
