2014 Press Releases - Media Centre | Old Mutual Wealth
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2014 press releases

22/12/2014

Skandia International, including Royal Skandia, today rebrands to Old Mutual International in all markets around the world. This completes the rebrand of the Skandia businesses to Old Mutual.

11/12/2014

Research* by Old Mutual Wealth has revealed adviser support for inheritance tax reform, with 44% of advisers in favour of lifting the IHT threshold to £1m.

11/12/2014

The new draft proposals issued as part of the Draft Finance Bill appear to still allow opportunities for use of multiple trusts, providing additional property is not added on the same day. 

08/12/2014

Current retirees are satisfied with 47% of pre-retirement income Old Mutual Wealth has today published its first Retirement Income Uncovered report that reveals those approaching retirement are expecting to receive £23,700 per year when they retire. The same survey shows that the average income in retirement today is currently just £19,000 – a shortfall of £4,700 per year, or 25%.

08/12/2014

Old Mutual Wealth has today published its first Retirement Income Uncovered report, which shows the positive impact planning and financial advice can have on income levels in retirement. 

03/12/2014

The Autumn Statement has confirmed the single settlement nil rate band on trust will NOT come into effect in April 2015, following consultation responses.

03/12/2014

In the Chancellor’s Autumn Statement non-domiciled individuals living in the UK have been targeted. The amount non-domiciles pay as a ‘remittance basis charge’ will increase, making it more expensive for them to defer paying UK tax on their overseas income or gains.

03/12/2014

If you are covering today’s Autumn Statement, please see the following comments from Adrian Walker, Old Mutual Wealth Retirement Planning Expert, calling on the Government to allow Isa savings to be passed on tax free to children as well as a spouse.

01/12/2014

Paul Craig joins Old Mutual Global Investors. Old Mutual Wealth has completed the acquisition of a 50% stake in Intrinsic Cirilium Investment Company Limited (‘Cirilium’) from Henderson Global Investors. Old Mutual Wealth now oversees 100% of the £2 billion Cirilium fund range which will be managed by John Ventre’s multi-asset team within Old Mutual Global Investors.

27/11/2014

Old Mutual Wealth has revealed that from today its critical illness insurance product, ‘Protect’, has been expanded to cover 65 conditions and now includes cover for all types of heart attack* and vascular disease and extended coverage for strokes.

24/11/2014

Old Mutual Wealth today (Nov 24) announces its approach to the sunset clause in the FCA’s platform paper. The approach is designed to give advisers and their clients as much time as possible to move to adviser fee arrangements.  At the same time, Old Mutual Wealth is also announcing the launch of a platform-led share class conversion process, with the first conversions taking place in February 2015.

20/11/2014

Skandia International, part of Old Mutual Wealth, has appointed industry leader Marcel Bradshaw as sales director. The appointment will further strengthen Skandia International’s position as the leading provider of international wealth planning solutions as it rebrands to Old Mutual International at the end of the year.

14/11/2014

From April 2015 individuals will be given the freedom to withdraw their entire pension pot as cash after age 55. Research suggests that 12% already plan to take their entire pension as cash but most do not know how it will be taxed.* Among those who withdraw some or all of their pension as cash, many will hope to invest in buy to let. Analysis from Old Mutual Wealth shows the scale of the tax implications they face.** 

05/11/2014

Old Mutual Wealth, a leading retail investment business, continued to grow in Q3 2014 with net client cash flow (NCCF) of £0.8 billion during the period, up 33% on Q3 2013 (£0.6 billion). The increase takes year to date NCCF to £2.0 billion, an increase of 43% compared to 2013.

29/10/2014

Anyone living in the UK who is currently deemed ‘non UK domiciled’ for tax purposes should consider taking steps to protect their worldwide assets. Potential changes to the domicile rules could mean more foreign nationals becoming deemed UK domiciled and their worldwide assets becoming liable to UK inheritance tax (IHT) on their death.

16/10/2014

Old Mutual Wealth has reached agreement to acquire Quilter Cheviot, a leading discretionary investment manager, for a consideration of £585 million.

10/10/2014

Old Mutual Wealth pensions specialist, Jon Greer, comments on the CPS report which casts doubt on the Government's ability to pay state pension benefits in the future.

09/10/2014

Old Mutual Wealth has today announced that it will be simplifying its charging structure by removing the annual pension drawdown fee and scrapping the current minimum charge on its platform. The changes will come into effect on 1 January 2015 and are designed to make Old Mutual Wealth better value for smaller investments and for customers looking to take advantage of the new pension withdrawal rules.  

03/10/2014

Andy Pomfret has been appointed to the Board of Old Mutual Wealth Management Ltd.  Andy will help the company develop its growth strategy as the leading retail investment business in the UK. He will chair the Audit Committee of Old Mutual Wealth, and will join the Board Risk and Remuneration Committees.

29/09/2014

Old Mutual Wealth pension expert, Adrian Walker, comments on the announcement on changes to tax payable on pension pots upon death.

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