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March 2016


Old Mutual Wealth is reducing exit fees where they exist on older-style UK pension contracts and capping them at 5% for all customers aged 55 or over.


Changes potentially due to come in on 6 April 2017 could mean some non-UK domiciles may no longer need to rush to sell their overseas assets before they become deemed UK domiciled, and others may be thousands of pounds better off if they hold onto overseas assets until after they become deemed UK domiciled. However, this change is not expected to be consulted on until later this year, and changes won’t be confirmed until the Finance Bill 2017, so non-UK domiciles face a period of uncertainty.


Old Mutual Wealth today completes the acquisition of AAM Advisory, the leading expatriate adviser business in Singapore.


Richard became Old Mutual Wealth chief distribution officer in 2016, having previously been CEO of Intrinsic, one of the UK’s largest networks of independent and restricted financial advisers. He sat on the FAMR expert panel in a personal capacity. 


Old Mutual Wealth beats ambitious targets set in 2012 delivering exceptional results in 2015 Profit increased by 35% to £307 million Net client cash flow increased by 86% to £6.9 billion   Old Mutual Wealth delivered a strong performance in 2015 outperforming the targets set in 2012 for profit, return on equity and operating margin.  At that time the targets set were £300 million profit, subsequently reduced to £270 million following the sales of the European businesses and excluding Quilter Cheviot, a 12-15% return on equity and an operating margin of 40%.  


Old Mutual International, part of Old Mutual Wealth, today launches the Swedish Executive Portfolio, a new whole-of-life portfolio bond tailored specifically for Swedish investors. The new bond provides a compelling solution for wrapping investment portfolios for a market dominated by custodian business.  

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