Skandia eyes stakes in advisers using Old Mutual war chest

Old Mutual Wealth - which includes the soon to be rebranded Skandia businesses - is planning to take stakes in adviser firms which become restricted as part of a major change in its business plan post-RDR.

Investment Week understands new CEO Paul Feeney has been given a mandate from the Old Mutual PLC board to invest in restricted firms. The deals – thought to be targeted at networks and adviser businesses looking to become restricted rather than remain independent – will give Old Mutual Wealth its own adviser channel to distribute its new core fund solution range to the market. The RDR has put adviser businesses under extra commercial pressures, and with margins tight, many advisers are considering becoming restricted in order to remain profitable. As well as holding talks with dist...