Sanlam UK has confirmed it will wind down its adviser network – Sanlam Partnerships Limited.

It said the increased scale and systems capacity required to grow a financial adviser network “no longer fits” with its business model.

“All adviser firms have been informed of the decision and Sanlam will be working closely with those businesses to find new, high-quality networks and relationships to help support continuity to clients,” said a spokesperson.

In July, Sanlam confirmed Jonathan Polin will act as interim head of Sanlam Wealth, following the departure of chief executive John White.

Polin is the current chief executive of Sanlam UK.

He will step in to replace White until a permanent replacement for the firm’s advice network and wealth management arm is appointed.