Old Mutual calls on gov’t to scrap the residence nil-rate band
Tax and financial planning expert suggests several key changes to the UK inheritance tax regime
Quilter
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PEOPLE MOVES: Quilter, OMGI, Sanne
Standard Life veterans join Quilter, OMGI appoints from Citi and Stan Chart trust chief joins Sanne
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Inflows drop 75% at Quilter International
£69m set aside in compensation for long-standing customers
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£20bn withdrawn since pension freedoms launched
The popularity of the UK’s pension freedoms is showing no signs of slowing, with almost £20bn ($26.2bn, €22.4bn) having now been flexibly accessed since the reforms launched in April 2015, according to the latest figures from HM Revenue & Customs.
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Quilter acquires third UK advice firm
Quilter’s financial planning arm, Old Mutual Wealth (OMW) Private Client Advisers, has acquired the advice business of accountancy firm Saint & Co.
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Quilter IPO takes off
Quilter employees were among the main beneficiaries when the insurer floated on the London and Johannesburg stock exchanges on Monday following its demerger from Old Mutual.
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Two industry heavyweights make major announcements
Standard Life Aberdeen is planning to return £1.75bn (€1.99bn, $2.33bn) in capital to its shareholders after selling its UK and European insurance business, while Old Mutual looks to offer up to 9.6% of shares in Quilter as part of its managed separation.
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Providers to stump up 25% of advisers’ compensation bills
Despite some strong opposition, the UK financial regulator has released major plans to force providers to pay 25% of advisers’ Financial Services Compensation Scheme (FSCS) bills.
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Markets hit Quilter assets in Q1 despite inflows
Quilter, formerly Old Mutual Wealth, said its assets under management and administration had fallen in the first quarter of 2018 despite net inflows increasing 14% compared to the same period last year.
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Old Mutual bosses step back as managed separation finalised
Old Mutual chief executive Bruce Hemphill and chief financial officer Ingrid Johnson have resigned from their board positions at the group as details on the final legal process for the managed separation are announced.
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Old Mutual Wealth ready to list as profit soars 40%
Old Mutual Wealth is now ready to list as Quilter, with its annual results showing the company’s pre-tax profits rose by 40% in 2017, driven by “unusually high” performance fees.
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We’re SJP’s ‘only credible scale competitor’ claims Old Mutual
Old Mutual Wealth claims a period of rapid growth means it is now the UK’s second largest advice business and only major competitor to St. James’s Place.