Old Mutual pushes deeper into UK advice space

Old Mutual Wealth and Intrinsic, a UK financial advice platform owned by Old Mutual Wealth, are strengthening OM’s position in the UK advice and funds distribution market by launching a new advice business – Old Mutual Wealth Private Client Advisers – and acquiring the Financial Adviser School from the Sesame Bankhall Group.

The Private Client Advisers business will target UK savers and investors with financial planning and product solutions sold under the Old Mutual brand.

Under distribution rules that apply in the UK for financial advisers serving retail customers, the new business will be defined as an “appointed representative” of Intrinsic. It will use the investment capabilities of Quilter Cheviot and Old Mutual Global Investors (they announced a new multi-asset business development earlier – see: http://www.investmenteurope.net/regions/uk/old-mutual-wealth-creates-dedicated-multi-asset-unit/ ).

OM said that Old Mutual Wealth Private Client Advisers “will deliver a scalable advice service with repeatable processes across a national advice proposition.”

The national presence will be built up ove the coming five years, targeting 10 regional offices and employing some 250 qualified advisers and support staff, OMW said. New advisers will be brought in after they finish their training at the Financial Adviser School.

Nigel Speirs will head the new business as managing director of Old Mutual Wealth Private Client Advisers.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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