PIB Group has acquired Sanlam Wealth Planning UK’s employee benefit division.
This department and its client book will transfer with immediate effect, and will now trade under the PIB Employee Benefits brand.
Sanlam’s portfolio of products and services is similar to those of PIB, offering pensions, group risk and healthcare consulting to a variety of businesses: from small family-run organisation to larger corporations and household names. Both also offer an online benefits portal for employees.
Sanlam Walth PLanning head of employee benefits Richard Haynes says: “This is an important milestone in our journey so far and will allow us to develop our proposition whilst continuing to offer a high-quality service to our clients.”
The deal includes an arrangement with the wider Sanlam group to provide enhanced and joined-up support for clients, so that their employee benefit enquiries will be referred to and managed by PIB. In return, PIB will introduce clients who have financial planning requirements to Sanlam’s wealth managers.
The PIB Employee Benefits division formed in 2016, to deliver products and services across the whole spectrum of employee benefits. In 2018 it grew via the acquisition of i2 Healthcare.
PIB Employee Benefits managing director David Skinner adds: “We’d like to extend a warm welcome to the Sanlam team who will complement our existing offering with their extensive knowledge and experience in the sector.
“It’s an exciting time for our employee benefits division following a busy year in 2019. The combination of our existing team with our new colleagues give us a greater range of resources and capabilities to support clients in 2020 and beyond.”
