Old Mutual Wealth is to acquire the Singapore-based expat advisory firm, AAM Advisory, as part of its plans to concentrate the Old Mutual International business on "core growth" markets of Singapore and Hong Kong; from the next couple of months it will stop accepting new business from advisers based in surrounding jurisdictions, including Malaysia, Thailand and the Philippines. The purchase is due to be completed in 1st April this year; financial details of the deal have not been disclosed.
Old Mutual Wealth is to acquire the Singapore-based expat advisory firm, AAM Advisory, as part of its plans to concentrate the Old Mutual International business on "core growth" markets of Singapore and Hong Kong; from 1st April this year it will stop accepting new business from advisers based in surrounding jurisdictions, including Malaysia, Thailand and the Philippines. The purchase is due to be completed in the next couple of months; financial details of the deal have not been disclosed.