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Old Mutual Wealth scraps Skandia brand

The Skandia platform and all UK operations have rebranded to Old Mutual Wealth with effect from today

Skandia, which launched in the UK in 1979, was acquired by Old Mutual in 2006.

Old Mutual Wealth includes the 3000-strong adviser network Intrinsic, which was acquired in February, the platform business, and its asset management arm Old Mutual Global Investors.

As at 30 June, Old Mutual Wealth is responsible for £80.3bn in customer assets.

The company’s offshore investment business Skandia International will be rebranded to Old Mutual International early next year.

Today will see the start of a major advertising campaign to promote the Old Mutual Wealth brand across trade and consumer press, branded taxis in 18 cities, billboards and sponsorship of golf coverage on Sky Sports.

Old Mutual Wealth chief executive Paul Feeney says: “There is an opportunity to build a business that integrates the three elements people need to help them save for their future – financial advice, investment and retirement solutions and tax efficient products.  There is a necessity to rebuild trust in financial services by empowering customers through high quality advice and information.

“That is our focus at Old Mutual Wealth.  We are incredibly proud of our Skandia heritage and we want to reignite the Skandia passion for innovation and high quality support for advisers and customers within Old Mutual Wealth.  So, we say goodbye to Skandia with pride and look forward to building a new breed of investment business as Old Mutual Wealth.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Personally I see no benefits of any sort from scrapping the Skandia brand and none of Mr Feeney’s pronouncements here persuades me otherwise. It’s more a matter of It’s ours so we’re going to put our name on it regardless of what anyone else thinks.

  2. Funny really, I was in a meeting with a couple of my younger clients (27 and 29) last week and just going over some quotes and literature form the then Skandia

    His wife asked “what’s the reference to Old Mutual on some of the paperwork ?” I then proceeded to explain -: her and his answer was “why would I want to invest my money into a company with OLD in the title ? and what’s this MUTUAL bit all about ?”
    He then said I like the Skandia bit (referring to the lorry; yes I know its Skania) gives the impression its going places !!!!

    True story
    My feeling I like the Skandia brand name

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