Old Mutual Wealth

Lisa Smith, BA (Hons), CeFA
By

Old Mutual Wealth is a well-respected financial business built on a foundation of adviser-led investing.

The company promotes a golden triangle of investment of investors, their advisers and Old Mutual Wealth products.

Old Mutual wealth shuns off-the-shelf investment choices offered by platform supermarkets in favour of a bespoke financial plan that pinpoints the best investments and funds that meet a customer’s need.

The key to the company’s longevity and success is recognising that change, challenge and opportunity are the only constants in business.

Old Mutual Wealth is a brand managed by holding company Quilter plc, an international financial group wit £107.5 billion of assets under management for nearly a million customers.

Quilter is listed on stock exchanges in London and Johannesburg, South Africa.

Old Mutual Wealth does not offer financial advice but signposts independent financial advisers registered as introducers

The company is based in Southampton in the UK and conducts business online 

Find out more about Quilter plc 

Mission statement

The Old Mutual Wealth mission statement clearly lays out that the company wants to help customers and their loved ones prosper.

Old Mutual Wealth Life Assurance rebrand

Old Mutual Wealth Life Assurance was sold by Quilter plc in January 2020 and renamed Reassure Life in June 2020.

Carving off the life business has had no impact on Old Mutual Wealth pensions and investment.

ReAssure is a closed book life company in the UK. The company administers 4.3 million policies and assets valued at nearly £70 billion.

Old Mutual Wealth’s Awards

Old Mutual Wealth has an enviable reputation among peers in the UK investment industry based on providing first-class customer service.

The company boasts of winning more five star service awards from respected trade magazine Financial adviser than any other investment provider

Recent awards include:

Defaqto 2019 Diamond Rating

5 Diamond rating for WealthSelect Managed Portfolio Service

Cover Customer Care Awards 2019

Best Underwriting Team

Defaqto 2018 Service Ratings

Platform – Gold Rating
Protection – Gold Rating

Gold Standard Awards 2019

Winner – Retirement Income

Financial Adviser Service Awards 2018

Life and Pensions – 5 Star

Adviser Asset 2019 Platform Rating

Platinum

Defaqto 2019 Service Rating

Platform – Gold Rating
Pensions – Gold Rating

Investment, Life & Pension Moneyfacts Awards 2018

Best Wrap Platform
Best Pension Service

Adviser Asset 2018 Platform Rating

Platinum

Old Mutual Wealth Pensions, Investments, Funds And Bonds

Old Mutual Wealth offers a wide range of pensions and investments for customers – including thousands of British expats.

The company will only accept customers on recommendation from a financial adviser on their list of introducers.

The reason is investment involves the risk of losing money and the company considers adviser-led advice is the best way for customers to pick products that match the level of risk they are ready to take to achieve their financial goals.

Investments

Old Mutual Wealth investments are for the long haul, not a short term hit-and-hope strategy to grow money set aside for retirement.

Collective Investment Account

  • A medium to long term investment with no cap on the amount to invest
  • Investors must be over 18 and live in the UK, Isle of Man, Guernsey or Jersey
  • The investment comes with no tax benefits like those with ISAs or pensions

Collective Investment Bond

  • A medium to long term investment
  • Investors should be over 18 and live in the UK to benefit from any favourable tax treatment of the bond
  • The initial investment is £10,000

Individual Savings Account (ISA)

  • Investors should be over 18 and live in the UK to gain full advantage of any favourable tax treatment of an ISA
  • £20,000 is the most that can be invested in an ISA in any tax year

Collective Retirement Account (CRA)

A retirement planning product that allows single or regular contributions and flexible access to the fund from the age of 55 years old.

  • The CRA follows UK registered pension rules.
  • Investments can be managed online through different fund options
  • Expats can transfer funds from offshore pensions into a CRA

Offshore bonds

Old Mutual Wealth offers offshore bonds to investors through parent company Quilter plc.

Three bonds are available:

Select Bond

A simple, cost-effective online bond accessing several investment funds. The minimum initial investment is £20,000

Portfolio Bond

This bind offers more investment funds and currencies than the Select Bond plus the option of a discretionary or external fund manager. The minimum investment is £25,000

Wealth Bond

A managed fund with an asset choice that beats most other UK offshore bonds. The minimum initial investment is £100,000.

Funds

Old Mutual Wealth investors can choose from around 1,700 funds and 120 fund managers when building a portfolio.

However, not all funds are available with every investment product, so you can take a product that has self-management options and fewer funds to match a tight budget.

Up-to-date performance statistics are available online for each fund, together with an update service with news of new funds and investment choices.

Investors can hand over their fund management responsibilities to a dedicated manager.

Investment fees and charges

Three parties are involved with charging fees on the money you invest with Old Mutual Wealth:

  • Your financial adviser
  • Your fund manager(s)
  • Old Mutual Wealth

The costs charged depend on the amount of money invested, the products holding the cash and the fees and charges for administering and managing the funds.

These will vary from customer to customer, depending on their personal circumstances but should be explained on the key feature illustration investors receive before parting with any cash.

The age of the product may also make a difference to the fees, charges and funds available for investment.

Finding An Old Mutual Wealth Adviser

If you don’t have an Old Mutual Wealth adviser and want to find out more about the company’s investment funds or other services, the company has an online search tool that finds the closest advisers to your postcode.

Go to the Old Mutual Wealth find an adviser tool [Opens in new window]

Contact Old Mutual Wealth

  • Phone: 0808 171 2626

Open between 8.00am and 6.00pm Monday – Friday

  • Post: Old Mutual Wealth, Old Mutual House, Portland Terrace, Southampton SO14 7EJ

Old Mutual Wealth FAQ

Old Mutual Wealth is a company that prides itself on offering clients innovative financial products coupled with financial security and great customer service.

Here are some answers to the most asked questions about Old Mutual Wealth.

How safe is money invested with Old Mutual Wealth?

Investments with Old Mutual Wealth are safeguarded by the UK Financial Services Compensation Scheme

How can I check out Old Mutual Wealth fund performance?

The web site lists nearly 200 pages of searchable funds available for investment which include performance statistics for the past five years.

Are Old Mutual Wealth products worthwhile for expats?

British expats have personal financial circumstances dictated by where they are tax resident and where they hold assets, which may be across two or more countries.

Non-resident expats are unlikely to gain any favourable tax treatment by investing in UK-centric products.

Discuss this point with an international IFA for a definitive answer.

How do I choose from 1700 different investment funds?

Old Mutual Wealth suggests you take investment advice from an IFA registered as an introducer with the company.  Their online tool  will help you find one local to you.

The Adviser will discuss your finances, attitude to risk and affordability and help short-list funds that match your goals.

Is Old Mutual Wealth linked to Old Mutual Wealth International?

Both companies are owned by Quilter plc. Old Mutual Wealth International is now trading as Quilter International, based on the Isle of Man.

Does Old Mutual Wealth or Quilter International provide QROPS?

No. Expats must source a QROPS from an alternative provider, but Quilter International does offer products that can wrap up investments within a QROPS expat pension.

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