Strong partnerships share some common characteristics: deep trust, commitment to excellence and willingness to adapt as circumstances change. These qualities matter in financial advice where professional relationships often extend across decades.
This is the kind of partnership that Old Mutual has sought to build with independent financial advisors (IFAs) in South Africa. Over the past five decades, the profession has been constantly reshaped by new regulation, rising client expectations and ever more sophisticated advice practices.
Crucially, this partnership is designed to support IFAs without compromising the independence that defines their role in the industry. Through these shifts, our role of supporting advisors also had to evolve.
Old Mutual has been at the forefront of this change since we established our Independent Distribution business in 1976 with the aim of providing financial solutions that IFAs could offer to their customers. Since then, we’ve evolved to offer broader structures designed to help advice practices operate more sustainably.
“The strength of our business has never been about product features or distribution channels. It’s always been about relationships,” says Prabashini Moodley, CEO, Old Mutual Life and Savings. “Which is why we value the IFA community so highly, and have invested in forging strong links, which creates value that compounds over time.”
That relationship is most valuable when it translates into practical support: helping IFAs connect strategic guidance, operational support and access to broader expertise in ways that strengthen their businesses over time.
Infrastructure that evolves
Today’s advice practice is a true partnership where Old Mutual respects advisors’ autonomy in running their businesses and serving their clients. Today, advice practices rely on operational systems that scale, digital tools that streamline workflows and guidance that helps them navigate increasing regulatory and business complexity.
Old Mutual’s Independent Distribution business supports IFAs through a national network of business consultants who work alongside advice practices on business development, strategic growth and operational efficiency.
This team is at the core of the Old Mutual Independent Distribution value proposition. Every IFA is paired with a highly skilled consultant to ensure they derive maximum value from the partnership and helps IFAs strengthen their practices.
“Advice is being rapidly reshaped by regulation, rising customer expectations and technology,” says Marwan Abrahams, executive general manager, Old Mutual Independent Distribution, and chairperson, Old Mutual Black Distributors Trust (OMBDT).
“The IFAs who win will adapt, innovate and thrive in the age of AI without losing the human touch. That’s exactly why Old Mutual Independent Distribution exists: to be your business partner that combines digital capability with human support, so your practice stays relevant, grows and scales for the long term.”
When the FAIS Act introduced compliance requirements in the early 2000s, Old Mutual helped establish Masthead to support advisors navigating the evolving regulatory environment. Later reforms, like the Fit-and-Proper requirements in 2012, again required IFAs to strengthen qualifications and operational standards, with structured guidance available through advisor support networks.
Professional networks
Infrastructure alone doesn’t build strong advice practices. Professional communities and peer networks play an important role in strengthening the profession. One example is the Old Mutual IFA Association, a community of IFAs who collaborate through shared learning, industry discussions and CPD opportunities.
Through practical guidance and programmes designed to strengthen business practices, the association helps advisors refine their operating models and respond to changes in the advice environment. Initiatives such as the Supporting Excellence in Practices (SEP) programme allow for continuous improvement by focusing on developing support staff within advice practices.
Investing in the future of advice
“We believe the future of financial advice depends on building stronger advice practices and supporting the next generation of advisors,” says Abrahams. The Trust was established to accelerate the growth of black-owned advice practices through funding, mentorship and operational support. These initiatives help firms expand their teams, strengthen infrastructure and scale their businesses. The results demonstrate what is possible when targeted support meets entrepreneurial capability. In 2024, four OMBDT beneficiaries were named in the Citywire Top 50 IFAs in South Africa – recognition that reflects the growing strength of these advice practices.
Support that compounds
“The IFAs who succeed over time are rarely those who work in isolation,” Abrahams says. “They are the ones who build strong networks, invest in their teams and work with partners who help them grow their businesses sustainably.”
Experience across decades of industry change points to a consistent lesson: advice practices thrive when they combine strong client relationships with operational discipline and reliable support structures. Partnerships between providers and advisors become less about distribution and more about sustaining long-term client outcomes.
Whether you are reconnecting with Old Mutual or exploring the Independent Distribution channel for the first time, speak to your business consultant or scan the QR code on the facing page
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