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Press comment: Pensions Minister urges firms to join Star initiative

22/07/2019

If you are covering the Star initiative and calls from the Pensions Minister, Guy Opperman, for more firms to join the group, please see the following commentary from Quilter head of retirement policy, Jon Greer:

Jon Greer“Pensions offer the most tax efficient, flexible way to save for retirement. But too often customers are left frustrated by sluggish transfer times that create a barrier to straightforward financial planning and pot consolidation. 

“Modern savings and investment companies should be able to build common standards for transfers to ensure customers can enjoy ease and simplicity when they switch providers. 

“We would urge all pension providers to sign up to the industry Star initiative. That group already has critical mass and will drive transparency and best practice across the industry. The ultimate aim has to be to get every single party in the transfer chain to aspire to efficient and swift transfers. That will make the customer experience when switching providers hassle-free, which is what they should expect from an industry entrusted with their life savings.”

For more information contact

Michael Glenister020 7778 963807469 144535michael.glenister@quilterinvestors.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 £118.7 billion in investments (as at 30 September 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.