Sanlam Explores Way2Wealth Brokers Stake in India

In Short

• Sanlam Investments CEO Carl Roothman says about 25% of his children’s portfolio is invested in India.
• Sanlam is in talks to invest in Way2Wealth Brokers to expand its stockbroking footprint, the report says.
• The discussions are ongoing and not a completed transaction.

What Happened

Sanlam is looking at a potential investment in Way2Wealth Brokers as it builds a bigger financial services platform in India. Roothman said India is a long-term bet for his family, with a roughly 20-year horizon. He also linked that view to the group’s broader India strategy.

Sanlam has already invested in the Shriram Capital Markets ecosystem about two years ago, and it now wants to speed up growth across three lines of business. Those lines are stockbroking, wealth management, and asset management. Stockbroking is the business of buying and selling shares for clients, similar to a “trading counter” for markets.

Roothman described the approach as an ecosystem play. A broking client can later use advisory services, and advisory clients can buy funds and other products managed by the asset manager. The goal is to create a platform that can scale across cities.

Sanlam’s wealth management arm in India oversees about Rs 5,000 crore in assets under advice, and it is targeting close to $1 billion. Assets under advice means client money the firm advises on, even if it does not directly hold it. The platform has around 170 wealth professionals in 14 cities and plans to reach 20 cities by the end of the year.

Why It Matters

For African financial groups, India remains a key growth market for wealth and capital markets services. A stake in a local broker can speed up distribution, which is the ability to reach more retail and high net worth investors.

Roothman also said client conversations have shifted toward global diversification. That trend matters for firms that want to offer offshore portfolios, cross-border products, and broader investment access.

In Africa, Sanlam has been expanding across insurance and investment products. Moves like this show how large African financial services players are also positioning for growth outside the continent.