Sun Life Asset Management, the mutual funds subsidiary of Sun Life Financial-Philippines, is looking to increase its financial advisor count and forge more partnerships with private banking units of key institutions this year, the Philippine Star writes.

To date, the company employs some 1,300 advisors licensed to market both life insurance and mutual fund products. The move to boost its staff numbers comes as the firm tries to expand its wealth management presence through more alliances with major bank institutions. 

Sun Life Asset Management has existing relationships with BDO Unibank, Chinatrust Commercial Philippines, Rizal Commercial Banking Corp, Standard Chartered Bank and Hong Kong and Shanghai Banking Corp.

In 2011, the firm posted an 11 per cent growth in assets under management from the previous year to Php21.46 billion ($514 million).