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.