Growing demand for customer focused investment solutions since the Retail Distribution Review helped Old Mutual Wealth record an adjusted operating profit of £227 million in 2014 (2013: £217 million), an increase of 5% on the prior year. When profit contributed from businesses sold during the year is adjusted, the year-on-year growth is 11%.
Old Mutual Wealth has received regulatory approval for its acquisition of Quilter Cheviot and the transaction officially completed on 25 February 2015. Quilter Cheviot is one of the largest discretionary investment managers in the UK with £16.7bn funds under management and 500 employees, including 165 investment managers (as at 31 December 2014).
Old Mutual Wealth, one of the UK’s largest wealth managers, is to launch a new flexi-access drawdown facility via its Collective Retirement Account (CRA) in time for the new pension freedoms that come into force on April 6, 2015.
The number of people using property wealth to help pay for their retirement is set to increase dramatically, research by Old Mutual Wealth has discovered.
The number of people working part-time in retirement is set to increase dramatically, research from YouGov and pension and investment provider Old Mutual Wealth has found.
Intrinsic, the UK’s leading network for financial advisers and part of Old Mutual Wealth, is launching a practice buyout scheme for advisers within the Network.