The arrangement began on Friday, following weeks of talks, according John Croft, head of UK and Europe at Sanlam. As a DFM of the Sanlam Global Investment Plan (SGIP), as the Sanlam bond is called, WH Ireland joins Quilter and Sanlam Private Investment.
Sanlam and WH Ireland had been brought together by Adviser Advocate, the specialist distribution and marketing company founded by ex-Axa executive Richard Leeson last year, which is involved in handling Sanlam's UK product distribution.
Sanlam expects to announce other DFMs for the bond in due course, Croft added.
As previously reported, the SGIP bond was launched in March, 2012. It is available to individual investors as well as to companies, partnerships and trustees.
Last November, it re-launched the bond, and in the process, reduced overall client charges, which included capping the set-up fee per bond at £300.
According to Leeson, the fee cap is thought to be unique in the offshore bond market.
Sanlam Global Investment Solutions' parent, the Sanlam Group, is based in Bellville, near Cape Town, in South Africa, and is that country's second-largest insurance company. Last month it reported operating earnings in the year to 31 December grew by 35%, while new business volumes grew by 36% to ZAR185bn (£10.5bn, €12.7bn, $17.5bn).
WH Ireland is based in London and is listed on the London Stock Exchange. It provides private wealth management and corporate broking services, and looks after more than £2.5bn in assets under management and administration.
