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Old Mutual Wealth IGC publishes its annual report

04/04/2019

Old Mutual Wealth Life Assurance’s Independent Governance Committee (IGC), an independent body created in 2015 to oversee the governance of its workplace pensions, has today published its fourth annual report assessing the charges, investment strategy and service levels of its workplace personal pension schemes.

The IGC is satisfied that a majority of policyholders are receiving value for money from their workplace pension. It has flagged a number of ‘calls to action’ for policyholders that could improve the value they get, including reviewing the funds they hold with a financial adviser.

To view the full report, please follow this link.

Richard Butcher, PTL, Independent chair, said:

“Our overall conclusion is that a majority of policyholders get value for money and that, on average, the value policyholders get has improved.

“Where we have concerns about members potentially not receiving value for money, it is generally because a member is not actively engaged in managing their pension or an adviser managing their scheme is no longer actively engaged in doing so.

“We are pleased with the co-operation and support given to us by Old Mutual Wealth over the course of the year.”

For more information contact

Tim Skelton-Smith02380 916 99807824 145 076tim.skelton-smith@quilter.com

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 £118.4 billion in investments (as at 30 June 2019).

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: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

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

The Quilter plc businesses are being re-branded as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Charles Derby Group (becoming Quilter Financial Advisers)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

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.