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Old Mutual Wealth introduces vertical integration model to South Africa


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
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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 £118.1 billion in customer investments (as at 30 September 2018).

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: 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; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

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.