PIB Group has acquired a book of business from Cheshire-based independent financial adviser Avidus Scott Lang (ASL) as part of a reciprocal arrangement made when the insurance intermediary group bought the employee benefits division of Sanlam Wealth Planning UK earlier this year.
The ASL deal, which does not involve any employee transfers, relates to commercial clients for group life assurance and group income protection.
As previously announced, an exclusive arrangement with the wider Sanlam group included providing enhanced and joined-up support for clients in that employee benefit enquiries are referred to and managed by PIB while customers with financial planning requirements are introduced to Sanlam’s wealth managers.
Richard Haynes, who became part of PIB following the Sanlam transaction, will be in charge of the delivery of the employee benefit services provided to ASL clients.
“The ASL book purchase is a first significant example of PIB’s relationship bearing fruition with Sanlam, as ASL were in fact acquired by them last year,” commented PIB Group chief executive Brendan McManus.
“From April 01, PIB Employee Benefits (EB) will now manage the administration and consultancy services of the ASL employee benefits business. ASL and PIB EB will continue to work very closely together to provide a seamless service to our mutual clients.”
