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August 2016

31/08

If you are covering the government consultation into the Pensions Advice Allowance, please see the following commentary from Richard Freeman, Old Mutual Wealth chief distribution officer.

16/08

Old Mutual International, part of Old Mutual Wealth, the leading wealth management business in the UK and internationally, announces the appointment of Simon Hull as operations director for the Isle of Man.

15/08

Figures obtained from the government reveal the startlingly low take-up of voluntary state pension top-ups, despite the attractive rates on offer. 

11/08

Financial performance Old Mutual Wealth: good underlying momentum, although lower profits due to operational challenges and tough markets: Adjusted Operating Profit (‘AOP’) down 31% to £104 million (H1 2015: £151 million), including a £21 million charge from changes to customer fees in Heritage book and lower operating margins; IFRS pre-tax loss attributable to equity holders £(17)million (H1 2015: £(27) million) following disposal write-offs and IT expenditure; Net client cash flows (‘NCCF’) up 39% to £3.2 billion; benefits of vertical integration  emerging (H1 2015: £2.3 billion); Gross sales up 16% to £11.3 billion (H1 2015: £9.8 billion); Funds under management (‘FUM’) up 7% to £111.2 billion on start of the year (December 2015: £104.4 billion).

09/08

Old Mutual plc (“Old Mutual”) today announces that it has agreed to sell Old Mutual Wealth Italy to ERGO Italia, owned by Cinven, the European private equity firm. The consideration for the transaction is €278 million in cash, plus interest to completion. The transaction is subject to usual regulatory approvals and customary conditions and is expected to complete within six months.

08/08

Old Mutual Wealth Private Client Advisers, the financial planning business leveraging Old Mutual Wealth’s expertise in advice, investments and platform solutions, is today pleased to announce the acquisition of West Yorkshire based financial planning firm, Beaumont Robinson. 

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