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Independent financial advisers founded in 1975
Over £1.4 billion client funds under management
17 industry awards for advice since 1989

By Steve Forbes, ASAM Managing Director

Alan Steel Asset Management Ltd is authorised and regulated by the Financial Conduct Authority. The Financial Conduct Authority does not regulate tax advice.

This letter is the personal view of Steve Forbes. Please check the appropriateness to your individual position with your adviser before taking or refraining from any action.

Informing You

What’s in a name?

By Steve Forbes | Thursday, 22 April, 2021

Changing a brand seems to be a rite of passage for businesses.

There are countless examples such as Marathon becoming Snickers, Norwich Union became Aviva and Hearts from a football team to a laughing stock (only kidding Jambos). 

In the financial services industry we have two more to look forward to in the coming months with Old Mutual Wealth becoming Quilter and Prudential, I kid you not, becoming Pru.

No doubt the companies employed to come up with these new brands have been paid fortunes and probably undertook numerous focus groups to ensure the name met approval.  I suppose in the case of Quilter it makes some sense given they are no longer part of the Old Mutual group of companies and they are adopting the name of their parent company.

However, surely the brand company that came up with Pru rather than Prudential must have felt a bit guilty handing in their fee note.  The statement from ‘Pru’ suggests this is to produce “a more positive future not just for our customers and the financial advisers we work with, but for our planet, society and the next generation too.”  Blimey, who would have guessed that dropping ‘dential’ would have such an impact?!

Anyway, the most important thing is these new names are the only things changing in both companies, and if you have plans with either of them, apart from receiving something in the mail highlighting their shiny new logo and name change, nothing else alters.

©2022 Alan Steel Asset Management Limited is authorised & regulated by The Financial Conduct Authority. Please note that the Financial Conduct Authority does not regulate some forms of tax advice. Company Registration: SC58014

You should remember that the value of an investment and the income from it could go down as well as up. The return at the end of the investment period is not guaranteed and you may get back less than you originally invested.

The investment services and/or investments referred to in this website may not be suitable for you. If you are unsure we suggest you contact us to discuss matters further. If we believe our services are not right for you we will tell you.

When investing money, whether for income or growth, you are placing your capital at risk as the value of investments may vary, so you could get back less than you started with.

The Financial Conduct Authority does not regulate Tax Advice, Trusts or wills. Alan Steel Asset Management Limited is authorised and regulated by the Financial Conduct Authority. The guidance contained in this website is subject to the regulatory regime of the UK.

The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients.

FOS details can be found at www.financial-ombudsman.org.uk

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