Skandia is known as the leading adviser platform in the UK but Old Mutual Wealth, under the leadership of chief executive Paul Feeney, has expanded further into a retail investment business with an adviser and customer offering spanning:
• Financial advice via the Intrinsic network and independent financial advisers
• Platform based wealth management products and services, now branded Old Mutual Wealth
• Asset management solutions via Old Mutual Global Investors available across the wider retail investment market
Old Mutual Wealth’s offshore investment business, Skandia International, will be rebranded Old Mutual International early next year.
Skandia originally launched in the UK in 1979 and was synonymous with innovation and adviser support. It pioneered the concepts of MultiManager and fund platforms which have since become the industry norm. It had a strong association with sailing, being the long term sponsor of Cowes Week and the Great British sailing team.
Skandia was acquired by Old Mutual plc in 2006 and the launch of the Old Mutual Wealth brand in the UK completes its integration into the FTSE 100 group.
The launch of the Old Mutual Wealth brand is accompanied by a major advertising campaign encompassing trade and consumer press, branded taxis in 18 cities, billboards across the UK including major railway stations and 16 regional airports, and sponsorship of golf coverage on Sky Sports.
To celebrate the brand launch, Old Mutual Wealth staff have become world record holders by building the largest ever coin mosaic – raising in excess of £18,000 for charity.
Paul Feeney, chief executive of Old Mutual Wealth, comments:
“There is a huge opportunity to create a company for the many who want to make a positive difference for themselves, those close to them, or the society they live in. 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 in fact 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.”