Old Mutual Wealth has reported profits from its platform business rose 46% last year as it integrated Intrinsic's 3,000 advisers into the group.
The UK platform saw profit rise to £19m compared to £13m in 2013, from gross sales of £5.1bn, up from £4.7bn the year before. Assets on the platform ended the period at £30.8bn, up 13%. Old Mutual acquired advice network Intrinsic in July 2014. The fund group said its platform, personal protection products and elements of its fund range have been added to Intrinsic's product panel for its 930 restricted advisers. Paul Fenney, chief executive of Old Mutual Wealth, said:"Increasingly I believe advisers and their clients will be looking to source [fund management, products and advice]...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
