Saltus’ financial planning arm is becoming independent next month so it can offer a wider range of investment products to clients.
Saltus Financial Planning (SFP) currently relies on its discretionary fund manager sister firm Saltus Investment Management (SIM) for investment solutions, but from 1 November it will be able to source them from the wider market.
The two strands of the business will continue to work together, but independence means SIM will be required to prove its worth to remain part of SFP’s central investment proposition.
The firm said SFP “intends to hold our investment providers to account so that we can be sure we are always acting in our client’s best interests”.
Against the grain
Saltus managing partner Jon Macintosh said the decision to move to independent status is “markedly different from the general direction of the industry”.
He said: “Numerous major industry names have been acquiring independents and migrating them to a restricted model at a startling rate. A move that ultimately reduces the range of products these clients can access.
“We’re challenging this notion and feel it’s right to prioritise the client,” he added. “We’re now able to provide whole of market protection, ESG portfolios and alternative managers and will be looking to achieve chartered status.”
Saltus was founded in 2004 and now has more than £1.2bn ($1.5bn, €1.3bn) in assets under management. It employs more than 70 people across offices in London, Bournemouth and the Solent.
More than 80% of Saltus’ clients use its financial planning service which was created in 2015.
Macintosh added: “We now have solid foundations on which to grow and I am excited for the future.”
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