Old Mutual Wealth’s vision is to become the UK’s leading investment business, promoting individual advice and active portfolio management to help clients invest for their future. It already offers individual advice through its Intrinsic network, leading ranges of managed investment solutions via its investment platform and standalone asset management capabilities through Old Mutual Global Investors (OMGI).
The acquisition of Quilter Cheviot completes the proposition with the addition of a discretionary investment management service, enabling Old Mutual Wealth to meet the needs of the growing number of affluent and high net worth investors. Customers investing via the current Old Mutual Wealth platform typically hold between £50,000 and £250,000, whereas the average investment via Quilter Cheviot’s bespoke discretionary investment service is in the region of £500,000.
Adding Quilter Cheviot’s discretionary investment service to Old Mutual Wealth’s existing range of managed investment solutions enables Old Mutual Wealth to maximise its participation in the growing trend post-RDR of financial advisers outsourcing investment solutions.
The acquisition will benefit Quilter Cheviot’s clients by affording them improved access to existing and new solutions from OMGI’s award-winning asset management capability, as well as solutions from Old Mutual Wealth’s cross-border business. In addition, Quilter Cheviot’s clients will benefit from improved buying power of the combined group. Quilter Cheviot’s excellent discretionary investment management process will remain unchanged.
Quilter Cheviot is a high quality, discretionary investment management business with £16bn funds under management and 165 investment managers (as at 30th September 2014). Quilter Cheviot’s distribution model includes financial advisers and clients that come directly to its investment managers, with broad reach across the UK.