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15/01

Old Mutual Wealth launches ‘B2B2C’ service

Old Mutual Wealth is today launching a new B2B2C top-up service following a successful trial with advisers in 2014.

The service enables financial advisers to give clients the option to top-up their ISA and Collective Investment Account (CIA) online via Old Mutual Wealth’s secure online Customer Centre.

The service was developed with advisers and will be available to clients if their adviser opts to switch-on the functionality. 

Individuals can top-up using a debit payment, internet bank transfer or top-up their ISA using assets already invested in a CIA.

Top-ups will be invested according to the client’s portfolio allocation agreed with their adviser.

Old Mutual Wealth has built this new service in response to demand from financial advisers and customers. Research shows that 43% of consumers want to use a combination of advice and self-service and this is growing rapidly, up from 28% in 2012. The B2B2C service represents an advised process that gives customers and advisers more freedom over how they manage top-ups.

The service was trialled with a selection of firms during the 2014 ISA season. Feedback demonstrates advisers felt it gave them an efficient way to process top-ups for clients that would prefer to complete a top-up transaction without a face-to-face meeting. It also avoids losing clients to an execution only broker if they want to self-serve for part of their investment portfolio.

Scott Goodsir

Old Mutual Wealth UK Managing Director of Distribution Scott Goodsir says:

“Many advisers tell us they want to be able to give clients the option to self-serve for some simple transactions. Following a successful trial, we are pleased to offer this option to advisers and their clients. We understand this will not be appropriate for all clients and that is why we are giving advisers complete control over whether they choose to offer this service.”

For more information contact:

Michael GlenisterOld Mutual Wealth 0207 7789 63807469 144 535
Tim Skelton-SmithOld Mutual Wealth 02380 916 99807824 145 076

Notes to Editors:

Old Mutual Wealth

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £123.5 billion in customer investments (as at 31 December 2016).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £394.9 billion assets under management (as at 31 December 2016).

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 Old Mutual Wealth Management Limited, a Private Limited Company (Company Number 0604270), Old Mutual House Portland Terrace Southampton Hampshire SO14 7EJ.