Old Mutual Wealth has said that it will team up its various businesses, including Old Mutual International and Quilter Cheviot to deliver high quality investment solutions to high-net-worth (HNW) investors in South Africa.
The move will enable South Africa investors to access Quilter Cheviot through the Old Mutual International portfolio bond.
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Quilter Cheviot will run the portfolio on a discretionary basis, tailoring the investment choice to the specific needs of the client.
The move comes as South African market is currently going through regulatory change under the Retail Distribution Review (RDR) and more advisers are moving towards fee based structures.
Old Mutual Wealth, which acquired Quilter Cheviot in February 2015, said there has been considerable interest from international advisers across many markets where there is strong demand for tailored investment solutions for HNW investors.
"This is increasing demand for outsourced investment solutions with advisers shifting their business models away from investment selection to the financial planning needs of their clients," Old Mutual Wealth said.
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By GlobalDataSteven Levin, CEO of investment platforms at Old Mutual Wealth said, "It is our ambition to become the leading wealth manager in our markets. 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 advisers and clients.
"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."
