Old Mutual Wealth platform boosted by pension freedoms

Platform sales of £1.6bn in Q3 'best this year'

Laura Dew
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Old Mutual Wealth has reported strong platform sales following the introduction of the retirement reforms in April.

The group's platform saw sales of £1.6bn, the strongest quarter of the year, which brought year-to-date sales to £4.6bn. It said this was driven by changes to pension freedoms, with the platform reporting a 71% increase in sales of pension products compared to a year ago.  It also launched an IncomeSelect retirement proposition, which brings together the Old Mutual Generation fund range with a new income planning tool. Meanwhile, Old Mutual Global Investors (OMGI) reported net flows grew 43% year to date, up from £1.4bn a year ago to £2bn. In its third quarter results to 30 Septemb...

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