Old Mutual Int’l focuses on ‘select group’ of Swiss-based IFAs

By , 16 Mar 17

Old Mutual International has confirmed that it has altered its distribution strategy in Switzerland to focus on a more “select group of expat IFAs”, contradicting industry reports that it was pulling out of the market altogether.

Old Mutual International has confirmed that it has altered its distribution strategy in Switzerland to focus on a more “select group of expat IFAs”, contradicting industry reports that it was pulling out of the market altogether.

A spokesperson for Old Mutual International said it was “just amending our acceptance policy. This is in line with our strategy of simplifying our business and focusing on our core growth markets”.

This has involved not accepting certain lines of business, with a greater emphasis on advisers with high net worth clients, the spokesperson added.  

International Adviser was told that Old Mutual International had been phoning IFAs in Switzerland and telling them that they would be accepting no more business after 30 June this year.

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