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Skandia International, part of Old Mutual Wealth, today announces the launch of a flexible offshore investment bond in Spain. The award winning European Capital Account (ECA) has been redesigned especially for the Spanish expat market to meet the growing demand for a flexible savings solution.

The ECA takes an innovative approach to saving for the medium to long term. Customers who plan to invest for at least five years can use a charge free withdrawal allowance of 10% each year, without triggering an early surrender charge.  This gives investors easy access to money with the maximum potential for their investment to perform. The payment options are equally as flexible; once an initial lump sum of just £10,000 (€15,000) is made, investors are able to make regular and ad hoc payments as and when required.

Through the ECA investors can access over 150 Spanish compliant international investment funds and defer when they pay tax on their savings. This can form an integral part of a client’s financial strategy, helping them save for retirement, education or any other financial goal.

Phil Oxenham, head of international proposition marketing at Skandia International comments:

“We see a great opportunity in the Spanish market for a flexible investment solution which meets the evolving needs of expats living in Spain. The launch of the ECA means investors can benefit from greater choice and flexibility together with wider investment opportunities.”

For more information contact

Amelie ShepherdOld Mutual Wealth02380 916 09107834 499 596

Notes to Editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.7 billion in investments (as at 30 September 2019).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

Wealth Platforms includes Old Mutual Wealth UK platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

The Quilter plc businesses are being re-branded as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Charles Derby Group (becoming Quilter Financial Advisers)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.