Paul Feeney, chief executive of Old Mutual Wealth Management, said the firm is aiming to become the number one wealth manager in the UK, following its merger with Skandia.
He said the decision earlier this year to merge Skandia's UK and international businesses with Old Mutual would allow a greater wealth management focus.
"Our vision is to be the best wealth manager in the UK and international markets, delivering efficient investment and retirement solutions that meet our customers' needs," said Feeney.
"We are just a few months away from a radical change in the investment landscape, which has led us to change our business approach to become an integrated wealth management business with strong asset management at the helm.
"Certain aspects of the business demonstrate a shift in philosophy, for instance we also have to provide drawdown and protection solutions as well as investment and retirement solutions - to enable us to meet clients' lifetime goals."
Last week, Old Mutual Wealth announced 200 jobs will be cut as it merges its business with Skandia.
As part of the changes, marketing director Nick Dixon and Andy Davies, sales director (adviser sales) of Skandia UK, will leave the business.
Skandia said the cutbacks will be made in areas of overlap with Old Mutual Wealth.
"It was not an easy process restructuring but we believe it is now a far stronger business, which is more efficient and focused," added Feeney.
When is a refund allowed?
AUM up due to strong markets
Will join IA sectors Q1 2020
Launched in April
To develop products and services