Old Mutual to explore greater product range on platform

Peter Mann
Peter Mann

Old Mutual Wealth – the merged Skandia businesses – could consider offering a greater range of products via its platform.

Managing director for UK Peter Mann says exchange-traded products and investment trusts could be offered through the platform eventually.

Mann says the platform has not followed other platforms and concentrated on offering every type of product available.

He explains: “We’ve never been an open architecture platform in the truest sense of the word. We’ve always had an in-house capability to not put certain funds on the platform.

“A good example is Arch cru funds, we didn’t like the structure of the funds. A lot of funds presented to us don’t make it onto the platform.”

He adds: “Guided architecture will become the norm as advisers focus more on the advice giving process and farm out the investment process.”

Old Mutual Wealth chief executive Paul Feeney says it is considering improving its digital services that offers clients via the website, in order to service orphaned clients post-RDR.

He says: “I don’t think there is any business in the market that isn’t looking at this or thinking about it.”

Feeney adds: “If someone wants to come on, we have to have the ability to do that.”