Strategy
Old Mutual Wealth Targets South Africa's Wealthy

UK wealth manager Old Mutual Wealth has announced a new vertical integration model aimed at boosting growth in the South African market.
Old Mutual International and Quilter Cheviot, both part of the UK's Old Mutual Wealth, will work together to serve investors in South Africa.
The move comes at a time of regulatory change for the South African market, which is currently undergoing the Retail Distribution Review with more advisors moving towards fee-based structures. This, Old Mutual Wealth said, is pushing up demand for outsourced investment solutions with advisors shifting their business model away from investment selection to the financial planning needs of their clients. The new focus, targeting the mass affluent through to the ultra-high net worth, aims to meet this demand.
Old Mutual International, which until recently was known as Skandia International, already collaborates with Old Mutual Global Investors, the asset management business of Old Mutual Wealth, in South Africa to provide investment solutions.
“Being able to export the investment capability of Quilter Cheviot and Old Mutual Global Investors through Old Mutual International creates a compelling proposition for our advisors and clients,” said Steven Levin, chief executive, investment platforms at Old Mutual Wealth.
“South Africa is just the start, and our future strategy will see us leverage the benefits of a vertically integrated model to more markets, raising the bar on the solutions available to clients internationally.”