The company said strong financial performance in recent times have helped allow it review its “entire investment approach and operations and to transition from a restricted offering to a whole of market advice firm”.
Tim Sargisson, CEO of Sandringham Financial Partners, said: “As the business has grown, Sandringham’s investment service has advanced and improved to the point it now fulfils the criteria demanded of an Independent Financial Adviser.
“The term ‘independent’ continues to be viewed as a mark of the highest professional quality amongst advisers.
“We are very proud to be classified as truly independent, and as part of our newly defined status, we look forward to recruiting more partners of the highest calibre and helping them to provide the best possible advice to their clients to achieve their financial goals.”
He added: “Over the last two years, we have seen an impressive increase in both our gross profit and our partners’ income. Indeed, 23% of our partners have increased their income by over 50% since 2016.”
Sandringham said it has improved turnover by 90% in comparison to 2016, with a 48% improvement in gross profit since 2016 and assisted 83% of partners in increasing their income.
Bosses said the move will not affect its investment service because the firm has been whole of market for some time. Sandringham starts from a whole of market position, research is then undertaken by the investment committee, and independent research firm, RSMR, provides governance and oversight. This approach creates a risk rated investment panel for advising partners to recommend to clients.
Sandringham currently provides access to 13 distinct fund styles across 61 portfolios and funds from nine managers, affording it its independent status.
Geoff Mills, director of RSMR, said: “We are delighted to have been engaged by Sandringham as part of their investment committee, and we look forward to continuing our support of their robust investment process. This is all designed to deliver good customer outcomes from an investment proposition that operates without bias.”