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Old Mutual Wealth to launch national advice arm


Old Mutual Wealth and its network Intrinsic are launching a national advice arm.

The business will be branded Old Mutual Wealth Private Client Advisers and will draw on the investment offerings from Quilter Cheviot and Old Mutual Global Investors.

The new business aims to offer advice through 10 regional offices employing around 250 qualified advisers plus support staff.

Old Mutual Wealth says it plans to grow the business through client bank acquisitions and strategic partnerships.

Intrinsic has separately announced plans to acquire Sesame’s Financial Adviser School, with recruits joining Old Mutual Wealth Private Client Advisers.

Former Sanlam Private Wealth chief executive Nigel Speirs, who joined Intrinsic in May, will lead the business as managing director.

Speirs says: “I am delighted to have joined Old Mutual Wealth. They are backing advice in the UK by putting their money where their mouth is and improving access to financial planning services for people right across the UK. The formation of Old Mutual Wealth Private Client Advisers is a sign of their commitment to the future of advice in the UK.”

Old Mutual said the new business will grow through client bank acquisitions, and “strategic partnerships” but will not target existing advised customers of either business.

Old Mutual Wealth chief executive Paul Feeney says: “Providers have historically not done enough to support the growth and development of the advice market. Old Mutual Wealth will play a leading role in strengthening the footprint of advice in the UK.”

Old Mutual Wealth has recently announced it is piloting an online simplified advice service which can be white-labelled by advisers.

The provider is working with five advice firms to trial the service ahead of a wider roll out next year.



Old Mutual launches white-labelled online advice service

Old Mutual Wealth is piloting an online simplified advice service which can be white-labelled by advisers. The provider is working with five advice firms to trial the service ahead of a wider roll out next year. The service will be restricted to Old Mutual Wealth’s funds and will run off the provider’s platform. Old Mutual […]


John Ventre’s Old Mutual exit shocks industry

The sudden departure of Old Mutual Wealth head of multi-asset John Ventre has left many surprised, even though the team reshuffle following the Quilter Cheviot acquisition makes sense, experts say. Ventre, together with François Zagamé and Stewart Cazier, will leave Old Mutual Wealth in a restructure of the multi-asset investment team following the £585m acquisition of Quilter Cheviot. Quilter […]


Intrinsic to acquire Sesame’s financial adviser school

Intrinsic has announced plans to acquire Sesame’s financial adviser school for an undisclosed sum. Sesame Bankhall Group announced in April it was closing its Financial Adviser School following the decision to scrap its investment advice network. Intrinsic chief executive Richard Freeman told members at the network’s annual conference yesterday that it is advanced talks to […]


Sesame reveals adviser impact of network closure

Sesame Bankhall Group has revealed what member firms have chosen to do following the closure of the distributor’s investment advice network. In March, SBG announced it would no longer operate a network for investment advisers. Appointed representatives were given the choice of going directly authorised and buying support services through Bankhall, moving to SBG’s “preferred […]

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Auto-enrolment — don’t leave it too late…

With auto-enrolment (AE) well under way for the UK’s largest businesses, over the next three years an additional 800,000 smaller employers (with less than 60 employees) will start their journey to comply with the legislation. AE mandates all eligible employees and their respective employers to make regular pension contributions into a qualifying pension scheme. To learn more about the legislation read our brief Jelf AEase — simple steps to AE compliance guide.


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There are 3 comments at the moment, we would love to hear your opinion too.

  1. How to steal clients by Old Mutual: 1. Lobby Old Boys Network at FCA & Government 2.Get rid of Adviser Commissions and have unbundled shares. 3. Move all ex advisers clients to unbundled share on 0.4% charging platform: 4. Start own advice service and charge advice fees to ex advisers clients

  2. Good luck Nigel

  3. With Old Mutual’s revolving door policy for senior staff it’s a wonder they have anyone left to advise punters on their investment decisions. For goodness sake sort your own house out first before telling poor punters what to do!!!

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