WealthSelect helps Old Mutual sales double to £1bn

Old Mutual Wealth reported a more than doubling of net flows in the first quarter of 2014, buoyed by its WealthSelect fund panel.

Net client cash flow hit £1.1bn in the three months to 31 March, up from £400m in the previous year. Its Skandia platform reported flows of £500m including WealthSelect, while Old Mutual Global Investors saw net flows of £1.1bn. Total assets under management finished at a record high of £80.2bn. CEO Paul Feeney (pictured) said: "We are taking high quality wealth management services and making them available to all retail investors through our platform where they can view their investments at any time via our new online customer centre. "We are trying to make wealth management le...