WealthSelect helps Old Mutual sales double to £1bn

clock

Old Mutual Wealth reported a more than doubling of net flows in the first quarter of 2014, buoyed by its WealthSelect fund panel.

Net client cash flow hit £1.1bn in the three months to 31 March, up from £400m in the previous year. Its Skandia platform reported flows of £500m including WealthSelect, while Old Mutual Global Investors saw net flows of £1.1bn. Total assets under management finished at a record high of £80.2bn. CEO Paul Feeney (pictured) said: "We are taking high quality wealth management services and making them available to all retail investors through our platform where they can view their investments at any time via our new online customer centre. "We are trying to make wealth management le...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Managed solutions

Chris Justham: To wrap or not to wrap?

Chris Justham: To wrap or not to wrap?

In the words of Wu-Tang: 'Listen. The money's all that matters.'

Chris Justham
clock 19 November 2024 • 3 min read
Reliance on others: The key to reducing risk and improving compliance

Reliance on others: The key to reducing risk and improving compliance

Key differences between reliance on others and agent as client

Nick Walker
clock 01 August 2024 • 3 min read
The top recommended MPS investments so far this year

The top recommended MPS investments so far this year

Defaqto data shows change in the top ten

Jen Frost
clock 23 July 2024 • 2 min read