Freeman will leave the firm to focus on his own personal interests and will continue to be active in the charity sector, where he currently chairs the development board of Dallaglio RugbyWorks.
Before joining OMW, he was one of the founding directors of Intrinsic in 2005, which went on to become one of the UK’s largest networks of financial advisers. As chief executive of the group, he spearheaded the acquisition by OMW in July 2014.
In his role of chief distribution officer on the OMW executive committee, Freeman played a key role in the development and expansion of the wealth management arm. The firm now oversees £131.3bn in customer investments across its wealth platforms and advice and wealth management segments.
More recently, as executive adviser he has prepped OMW for its imminent managed separation from parent company Old Mutual and its proposed flotation on the London and Johannesburg stock exchanges.
This is not the first instance Freeman has announced his retirement from the firm, but this time, he stressed “it’s real”.
“Having personally twice announced my retirement from Intrinsic and Old Mutual Wealth before, I can confirm that this time it’s for real! I have enjoyed a long, rewarding and full career and I believe that it is now right for me to step down from my full-time executive role to explore other opportunities and pursue a slightly less hectic pace of life,” he said.
“I am confident that I leave Intrinsic and Old Mutual Wealth in fantastic shape and very well-placed to succeed in the future. I am proud to have played my part in building two very successful businesses. I have thoroughly enjoyed working with some exceptional people along the way and I would like to thank all of my colleagues on the Old Mutual Wealth executive committee and the Intrinsic board for their companionship and support. In particular, I want to thank Paul Feeney for his vision and leadership.”
Freeman will remain a director at the firm and board member of the Tax Incentivised Savings Association.
On Freeman’s retirement, OMW CEO Paul Feeney added: “I have really enjoyed working with Richard and have personally valued his insight and guidance. Reluctantly I have had to accept that he does mean it this time. On behalf of everyone at Old Mutual Wealth, we send him our good wishes for the future.”
