Quilter has announced that Old Mutual International will be renamed Quilter International.
The cross-border wealth management solutions business has rebranded following the renaming of other arms of the Quilter Group. For example, Intrinsic became Quilter Financial Planning in 2019 and the Charles Derby Group became Quilter Financial Advisers in January 2020.
This is all due to Quilter separating from Old Mutual in June 2018. In addition, they list separately on the London and Johannesburg stock exchanges.
Peter Kenny, CEO of Quilter International, said: “Our rebrand to Quilter International is a natural next step in our journey and a further opportunity to harness the strength of the Quilter brand.”
Michelle Andrews, chief marketing officer, Quilter, added: “The Quilter brand already has substantial heritage in the international markets thanks to Quilter Cheviot; and now with the addition of Quilter International, we are able to further raise the profile of the value of advice and the benefit of wealth management in the international cross-border markets.”
Quilter International is headquartered on the Isle of Man. It operates in multiple global markets and offers planning solutions to expats and local investors across the world.
Quilter reported that its assets under management and administration (AuMA) touched £110.4bn as of 31 December 2019, up 13% from a year ago.
Gross sales in 2019 Q4 was £3.5bn, jumping 17% from £3bn registered in the corresponding period in 2018.
Net Client Cash Flow inflow (NCCF) was £500m in the same period.
The wealth manager also witnessed a turnaround in annual NCCF registering an inflow of £300m this year, excluding Heritage Life Assurance. At the end of third quarter, Quilter reported a net outflow of £200m.
Furthermore, Quilter Private Client Advisers strengthened its national advisory footprint with the acquisition of Prescient in January 2020.
London-based Prescient is an advisory firm. It also has branches in Glasgow, Exeter as well as York.
The deal added over £800m ($1.038bn) in assets under advice (AUA) to the acquirer’s books. Financial terms of the transaction were not divulged.