Sanlam launches an additional business model

Sanlam has announced the launch of SanlamConnect - a new interactive financial planning process that will allow the company to extend its leadership role in a rapidly changing financial services industry.

The South African financial services industry is currently going through a period of tremendous change, driven by a changing socio-economic environment, changing consumer needs and new regulatory requirements.

Similar changes elsewhere in the world resulted in traditional business models moving their focus towards more affluent market segments, creating the imperative to introduce alternative business models to ensure that particularly the middle market continues to receive service.

SanlamConnect will position Sanlams financial solutions to clients through an interactive face-to-face capability that will be present in offices, retail malls and business parks in Cape Town and Gauteng in its initial phase of the launch. These outlets, run by trained financial consultants, will assist clients with their initial financial planning and will continue

to play a role in the monitoring of the plan, as required by the client. Clients will also be able to access their SanlamConnect financial planning online on their own and in their own time.

Anton Gildenhuys, head of Strategic Business Development at Sanlam, says the launch of SanlamConnect strongly positions Sanlam as a leader in the South African financial services industry. With SanlamConnect we have created a scenario that allows us to present all the mechanics of financial planning to our market in a simple and well thought-through process.

Gildenhuys says that, from a consumer perspective, SanlamConnect empowers clients to determine their level of involvement in their own financial planning. To allow for a higher level of client involvement, we have focused our effort on simplifying all the components of the financial planning process, starting with the initial financial advice and the underlying products and taking it through to the continual monitoring of

the financial plan.

The process is designed to continue communicating with clients on a structured basis to maintain their financial plans, ensuring that these plans keep adapting to actual experience over time. By creating a dynamic, living financial plan we ensure that clients can maintain control of their financial future.

SanlamConnect is a world first, backed by strong and extensive client research. We are first to offer a simple and transparent end-to-end financial planning process focusing on primary financial needs such as retirement, protection and short-term savings. What is particularly innovative is the unique blend of face-to-face interaction and internet access. This allows clients to build relationships with knowledgeable

financial consultants, while having direct access to the same tools and information that the financial consultant has.

Gildenhuys emphasises, though, that SanlamConnect presents an addition to Sanlams existing distribution channels and does not replace the need for traditional financial adviser and broker channels.

Our advisers and brokers will continue to remain vital to the successful presentation of our services and solutions to our clients. Their advice processes, holistic analysis of client needs and service delivery remain critical to our business.

Similar to current financial advisers, SanlamConnect prides itself on offering advice to clients through face-to-face interaction. We therefore believe that this may be an attractive alternative business model available to financial advisers who find that their existing practices are under strain in the market segment in which they operate.

Gildenhuys says Sanlams overall success in the market depends on its ability to innovate in line with its clients requirements. It’s the collaboration between our traditional distribution channels and new interactions with clients that will determine our overall success as a company in an environment in which strategic movement has become imperative.

The following retail malls and offices in South Africa host SanlamConnect offices and have been staffed since 29 October 2007

Western Cape:

o Cape Gate

o Thibault Square

JHB South:

o Maponya Mall

o Northmead Square

JHB North:

o Northgate

o Randburg Square

Pretoria:

o Centurion Mall

o Sammy Marks