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PRINCIPAL AN OVERVIEW BY HUGH TITCOMB CHIEF EXECUTIVE OFFICER

Principal is a leading discretionary portfolio management specialist founded in 1987 with a team of 90 employees providing investment management services to individuals, trusts, pension funds, charities, and institutions. Acquired by the Sanlam Group in 2008 and authorized by the Financial Services Authority. The service proposition includes assets under management, wealth management, investment management, holistic financial solutions, client banking, and protection products. Competitor landscape includes Sanlam UK with critical success factors in people, service offering, operational excellence, and communication. Overall, Principal aims to provide quality, trusted financial services to clients while maintaining transparency and excellence in all aspects of wealth management.

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PRINCIPAL AN OVERVIEW BY HUGH TITCOMB CHIEF EXECUTIVE OFFICER

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  1. PRINCIPAL AN OVERVIEW BY HUGH TITCOMB CHIEF EXECUTIVE OFFICER

  2. Principal - A Summary • A leading discretionary portfolio management specialist • Founded in 1987 • 90 employees: 30 Investment Managers • Providing investment management services to: • Private individuals • Trusts • Pension funds • Charities • Institutions • Acquired by the Sanlam Group in 2008 • Authorised and regulated by the Financial Services Authority

  3. Principal - Service Proposition

  4. Assets Under Management: 2009 – 2010 (£m)

  5. Increasing requirement for individual ownership of financial affairs. Tarnished reputation of some existing service providers. Poor investment/advice experience suffered by some in recent past. RDR will result in reduced number of financial advisors – but increase the opportunity for those remaining. Estimated market size (UK) Affluent (£100k+) 1.8m+ HNW (£500m+) 500,000+ UHNW (£5m+) 150,000+ Wealth Management - Strategic Rationale

  6. Wealth Management Proposition Investment Management - Pensions - Other wrapped monies - Taxable portfolios - Execution only - Private equity/property investment Holistic, integrated financial solutions • Tax planning • Estate planning • Trust advice/structures • Philanthropy Client Banking - Debt management advice - C/F advice - Credit facilities - Deposits/FX Protection products - Life cover - Critical illness - Health

  7. UK Wealth Management – competitor landscape

  8. Wealth Management Proposition – Sanlam UK • Client

  9. Critical Success Factors • People • Strong relationship management capabilities; • Strong business development/distribution capabilities; • Experienced and credible; • Appropriate incentive/retention mechanisms. • Service offering • Quality and trusted products and service - offering value for money; • Robust and reliable investment performance; • Transparent pricing. • Operational • Service excellence; • Systems capability including consolidated reporting. • Communication/positioning • Avoiding concerns amongst existing IFA introducers re “encroaching on their patch”.

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