Types of Financial Planners

"Tied" financial planners

"Tied" planners are typically employed by a financial services provider like Sanlam and will advise clients on Sanlam products and services. They are often also accredited to sell products from competitor companies.

Given that "tied" financial planners are employees of a particular financial services provider, the financial services provider stands in for the advice. Clients who make use of "tied" financial planners therefore have recourse against the financial services provider that employed the planner.

Sanlam's BlueStar financial planners

BlueStar practices offer clients a one-stop shop and access to specialised services such as life insurance, estate planning, short-term insurance, retirement planning and investment planning.

BlueStar practices are built on the premise that financial planners cannot be experts on all the solutions in the market, given the vast variety of financial needs from categories of clients. This model allows financial planners to specialise so that they can identify the most appropriate solutions to meet their clients' needs.

The BlueStar concept positions the relationship between the client and the financial services provider, instead of between the client and an individual planner. You still receive personalised service, but the advice does not depend on only one individual. This ensures the continuity and longevity of the relationship. You can get advice for all your financial needs in one location.

The financial advice given through BlueStar practices is backed by Sanlam, which provides security to both you and the financial planner. Products sold are not restricted to Sanlam's.

Independent financial planners

Independent financial planners are authorised to sell a variety of companies' products and services. The planner may provide advice on and sell products from Sanlam as well as other companies. The advice is considered "independent” as independent financial planners operate under their own licence.