Sanlam acquires a 49% stake in FIRSTGLOBAL Asset Management

Carl Roothman, CEO of Sanlam Investments Retail.

Mark Duff, CEO: Graviton Financial Partners.

John Swart, CEO: FIRSTGLOBAL Asset Management.

Graviton Financial Partners (Pty) Limited, a wholly owned subsidiary of Sanlam Investment Holdings, has acquired an equity interest in FIRSTGLOBAL Asset Management, this as part of a broader Sanlam Investments retail strategy.

According to Carl Roothman, CEO of Sanlam Investments Retail, this acquisition is part of the Sanlam Investments’ retail strategy to take select stakes in independent financial advisory firms and multi-manager companies of high reputation. This strategy 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.

The FIRSTGLOBAL Group, founded in 2001, provides financial planning and investment services to high net worth private clients and small to medium enterprises. The group consists of FIRSTGLOBAL ASSET MANAGEMENT – the company in which Sanlam has acquired a 49% stake – and seven wealth management / financial advisory businesses which are independently owned by senior professional advisors based in Johannesburg, Cape Town, Pretoria, Durban and Richards Bay.

FIRSTGLOBAL ASSET MANAGEMENT, a registered financial service provider, manages 6 local and 2 offshore multi-manager funds and employs the skills of an in-house professional 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.

This is very much in line with our current acquisition strategy, says Mark Duff, CEO of Graviton Financial Partners. Four years’ ago, Sanlam Investment Holdings established a separate entity, Graviton Financial Partners (Pty) Limited, to independently manage and house such acquisitions. FIRSTGLOBAL is a like-minded investment firm with an established track record, comprising a multi-manager business under the same brand, underpinned by an established advice capability.

John Swart, CEO of FIRSTGLOBAL ASSET MANAGEMENT, echoed the sentiments of Roothman and Duff and expressed his excitement about the future benefits of a FIRSTGLOBAL SANLAM partnership. “We look forward to growing this business together by harnessing the resources of Sanlam without giving up our independence. FIRSTGLOBAL is a firm believer in independent professional advice and will continue to offer the best advice and service available to its clients.”

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.