View more on these topics

Intrinsic buys Mint but loses Perfect Day

Multi-tie network Intrinsic Financial Services has bought Mint in its first move into IFA distribution.

Intrinsic will take on Mint’s 240 registered individualsto add to its 1,250 advisers. Mint will continue as a brand and will be run as a separate entity, with adviser contracts staying with Mint.

Mint chief executive Paul Gains and the other members of the management team will retain their roles. It is still to be decided if Gains will take a seat on the board at Intrinsic.

Intrinsic group chief executive Kevin Ronaldson says: “This was an opportunity too good to miss but we are not swallowing Mint into Intrinsic. We are very pleased with our multi-tie but the IFA will always exist and we would like to be a part of that. We see professional face-to-face advice as the way of the future.”

He says Mint was the only one in the frame to be bought and there is a good cultural fit between the two businesses.

Gains says “This is great news for Mint and its network of professional IFAs. I look forward to working with Kevin and the team. I have no doubt that, with Intrinsic’s backing, Mint will continue to flourish and become an increasingly powerful force in our market.”

One of Intrinsic’s biggest producing firms has ditched the multi-tie in favour of whole of market independence through Sage network.

Perfect Day, which is based in the City of London, has around 40 advisers and moved its appointed representative status from Intrinsic Financial Services to Money Portal’s Sage, which is based in Macclesfield.

Perfect Day chief executive John Groszek says: “Intrinsic, and especially Lord Leitch, was good to work with because they understand Perfect Day and our business model.

“However, we felt that being a multi-tie was restricting the Perfect Day market proposition to our clients. Our clients are the heart of everythingwe do and by joining Sage we can deliver our clients a much better individual service.”

Recommended

McPhail says ‘bed and Sipp’ to maximise tax relief

Advisers should encourage clients to claim 22 per cent tax relief on pensions before it falls to 20 per cent from April 6, says Hargreaves Lansdown.Head of pensions research Tom McPhail says a client considering investing £10,000 in a pension could be around £1,800 better off after 30 years if they make the contribution in […]

Tories want experts to oversee tax plans

Shadow Chancellor George Osborne says a Conservative Government would publish any technical changes to the tax system in the autumn before the Budget.In a speech to the Policy Exchange last week, Osborne proposed introducing a Parliamentary committee which would scrutinise tax changes with industry experts before they were confirmed in the Budget.Osborne has enlisted the […]

FSA warns of widespread loan fraud

The FSA is to bring enforcement action in a third of the 200 cases of suspected mortgage fraud it has been investigating.Financial crime and intelligence division director Philip Robinson told a Council of Mortgage Lenders’ mortgage fraud seminar last week that the problem looks “bigger and more widespread” than previously thought.Retail managing director Clive Briault […]

Nucleus’ board IFAs face re-election

Nucleus’ seven IFA representatives that make up its advisory board are up for re-election on February 27. The platform’s next meeting will see the seven positions up for grabs, with all existing member IFA firms able to offer themselves for election, becoming more involved in driving the development of the platform. The new board members […]

Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com