Old Mutual Wealth sets out bulk-conversion plans

clock • 2 min read

Old Mutual Wealth, the UK's third largest adviser platform with funds under administration of £30bn, will begin bulk converting any remaining clients in bundled share classes to unbundled in February 2015.

The move means the platform, rather than advisers, will take responsibility for notifying customers of the changes. It will bulk-convert all clients in all wrappers to unbundled share classes, provided the customer is not disadvantaged by the move. Customers will continue to receive the benefit of unit rebates where it leaves them better off. Where the unbundled share class is equivalent, the fund will be included in the share conversion process. Old Mutual Wealth investment platform expert Mike Barrett (pictured) said: "We said to advisers the ball was in their court, and they had...

To continue reading this article...

Join Professional Adviser

  • 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.



Already a Professional Adviser member?


More on Wrap/platforms

Will Consumer Duty make platforms 'governance vehicles'?

Will Consumer Duty make platforms 'governance vehicles'?

So, what does the modern platform look like?

Alex Cowan-Sanluis
clock 01 December 2022 • 3 min read
Tough third quarter for platform industry, data shows

Tough third quarter for platform industry, data shows

Economic instability is hurting investor confidence, experts say

Julia Bahr
clock 10 November 2022 • 3 min read
Alex Cowan-Sanluis: The five-stage hierarchy of platform services

Exploring the five-stage hierarchy of platform services

Platform market change sees more consistent tech-driven customer propositions

Alex Cowan-Sanluis
clock 12 October 2022 • 4 min read