Major Changes at Quilter as CFO Mitchell Dean Steps Down

By Published On: 30 July 2024
steps down

Quilter Financial Planning’s chief financial officer (CFO), Mitchell Dean, is stepping down from the business after an impressive 17-year tenure. Dean is set to leave at the end of October, with his responsibilities being transitioned to ex-Nucleus CFO Stuart Geard, who joined Quilter in early January.

Dean’s career at Quilter began in 2007 when he joined Skandia, which had been acquired by Old Mutual the previous year. Over the years, he played a pivotal role in Quilter’s growth and transformation. Dean was appointed CFO of Quilter’s advice network in 2020, following two years as chief operating officer and CFO at the group’s asset management arm, Quilter Investors. Old Mutual’s acquisition of Quilter Cheviot Investment Management and the subsequent rebranding to Quilter in 2018 marked significant milestones in Dean’s career.

Quilter’s Position in the UK Investment Landscape

Quilter are one of the most respected and established investment platforms in the UK today, chosen by many of the UK’s independent financial advisers due to their competitive pricing, range of investment products such as pensions, ISAs, Bonds and GIAs, and access to thousands of investment options to allow financial advisers to manage their clients portfolios effectively via their online platform which provided market leading technology.
However, many of the wealth managers who work under Quilters financial advice arm could be facing claims primarily due to lack of ongoing servicing, in spite of collective annual management charges.
Quilter have put provisional funds aside of circa 22m pending the results of an independent review instructed by the financial conduct authority.

 

Financial Redress and Client Confidence

The good news is that when dealing with an established firm like quilter, should they identify any of their clients have been treated unfairly they will almost certainly look to right and wrongs by paying the appropriate amount of financial redress, and you can have confidence a firm like quilter have the means to pay up.
However, the only way to be sure if you have grounds for financial redress is to raise a complaint.
  • Grounds for complaint against Quilter Financial Advisers, investments and pensions can vary from:
  • Overcharging (unjustifiable fees)
  • Lack of servicing (lack of annual reviews)
  • Poor investment choices (investments that were not suitable for you)
  • And others

Importance of Timely Action

Regardless of whether you have dealt with quilter or any financial services firms it is advisable to investigate whether you may have a claim sooner rather, especially when dealing with a trading firm like quilter as claims may be time barred if you wait too long.

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