View more on these topics

Old Mutual Wealth to launch national advice arm

Feeney-Paul-2013-700x450.jpg

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.

Recommended

Online-Shopping-Supermarket-Platform-Technology-700.jpg

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 […]

Business-Corporate-Board-Room-Meeting-Hire-Hiring-700x450.jpg

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 […]

Retirement - thumbnail

Pensions pocket picked again

In this life, one thing countsIn the bank, large amountsI’m afraid these don’t grow on trees,You’ve got to pick-a-pocket or twoYou’ve got to pick-a-pocket or two, boys,You’ve got to pick-a-pocket or two. Sung by Fagin in the musical Oliver. “I have got to pick a pocket or two, boys” might be just what the chancellor, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

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!!!

Leave a comment