Independent wrap Ascentric has added Sanlam as a new Product Partner with the addition of its ‘Transfer Pension Portfolio' (TPP), a self invested Section 32 (see notes to editors), to the platform.
Sanlam's TPP, currently only available through Ascentric, is the first Section 32 to be offered on the platform and extends further the choice of tax wrappers available.
Sanlam's TPP is one of the few self invested Section 32 products on the market and its flexibility allows a client to fully self invest all of their Protected Rights, Non Protected Rights, and Section 9 (2B) rights in assets via the Ascentric platform, and commercial property outside the platform.
The TPP is aimed specifically at advisers who are currently or have historically advised on pensions and have already or are in the process of transitioning their business to a fee model. It is also suitable for advisers wishing to illustrate the additional value of self investment over and above the insured propositions of traditional life companies.
"We're committed to delivering choice through technology and the launch of Sanlam's TPP fully underlines this commitment by extending our range of tax wrappers into Section 32", commented Richard Goodall Sales and Marketing Director at Ascentric. "We have had significant demand from advisers for a Section 32 to meet the pension needs of their clients, and I am delighted to be working with such a forward thinking provider."
Herman Sandrock, Head of Strategic Relationships at Sanlam UK added, "At Sanlam we're extremely proud of our Transfer Pension Portfolio as it is, in our view, the only self-invested Section 32 product that is open to new business. We are excited about the prospect of making our Section 32 available on Ascentric, one of the UK's top emerging platforms, and look forward to partnering with Ascentric and their clients."
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