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Old Mutual Wealth introduces vertical integration model to South Africa

12/11/2015

Old Mutual Wealth, the leading wealth management business, announces further developments within its vertically integrated model.  Old Mutual International and Quilter Cheviot will team up to deliver market leading investment opportunities to investors in South Africa.

This latest move demonstrates the opportunities for the businesses within Old Mutual Wealth to work together to deliver high quality solutions to clients and advisers across international markets.

Since Quilter Cheviot joined Old Mutual Wealth in February there has been considerable interest from international advisers across many markets where there is strong demand for tailored investment solutions for high net worth investors. Having Quilter Cheviot available will open up new opportunities to better serve the high net worth segments. 

The South African market is currently going through regulatory change under the Retail Distribution Review and more advisers are moving towards fee based structures. This is increasing demand for outsourced investment solutions with advisers shifting their business models away from investment selection to the financial planning needs of their clients.

Old Mutual International is well positioned to benefit from this growing trend. It already collaborates with Old Mutual Global Investors, the asset management business of Old Mutual Wealth, in South Africa to deliver investment solutions. Combined with access to a world class discretionary manager means Old Mutual International can offer a full range of credible outsourced solutions. These will help meet a wide variety of adviser and client needs, from mass affluent right through to the ultra-high net worth.

Investors in South Africa will be able to access Quilter Cheviot through the Old Mutual International portfolio bond. Quilter Cheviot will run the portfolio on a discretionary basis, tailoring the investment choice to the specific needs of the client.

Steven Levin, CEO, investment platforms, Old Mutual Wealth, comments:

“It is our ambition to become the leading wealth manager in our markets. Being able to export the investment capability of Quilter Cheviot and Old Mutual Global Investors through Old Mutual International creates a compelling proposition for our advisers and clients. South Africa is just the start, and our future strategy will see us leverage the benefits of a vertically integrated model to more markets, raising the bar on the solutions available to clients internationally.” 

Sophie Heywood (Lenton)  
Corporate Communications Manager | Old Mutual Wealth

M: +44 (0)7834 499 558

T: +44 (0)23 8091 6770 | Ext: 21770
E: sophie.heywood@omwealth.com | W: www.oldmutualwealth.co.uk

Notes to Editors:

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

Old Mutual Wealth oversees £131.3 billion in customer investments (as at 30 September 2017).

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

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

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

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Old Mutual Wealth’s multi-asset investment solutions business.

Old Mutual Global Investors (‘OMGI’) is the asset management business of Old Mutual Wealth with £39.8bn funds under management (as at 30 September 2017). On the 19th December 2017, Old Mutual Wealth announced that it has agreed to sell its Single Strategy asset management business to the Single Strategy Management team and funds managed by TA Associates. The proposed transaction is subject to customary closing conditions, including regulatory approvals. 

Following managed separation from Old Mutual plc, Old Mutual Wealth will rebrand to Quilter plc. Each of the businesses within the Quilter Plc group will be rebranded over a two-year period, with the exception of Quilter Cheviot, which will retain its existing name.

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 (as at 31 December 2016) customers across the world and has a total of £212.3 billion of assets under management (as at 30 June 2017).

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