View more on these topics

Intrinsic chief Richard Freeman to exit in 2017

Richard_Freeman_Intrinsic

Intrinsic chief executive Richard Freeman is to depart the network in early 2017.

Freeman has been chief executive since 2010, having first joined as sales director.

Freeman will be replaced by Intrinsic managing director Andy Thompson, but will retain a role within Old Mutual following the transition.

In a statement, Freeman says: “We have the right successor in Andy Thompson and I will remain in the Old Mutual Wealth business to allow for a smooth transition.

“I have worked with Andy for nearly 15 years; his strategic knowledge and understanding of what it takes to deliver for clients will ensure Intrinsic goes from strength to strength. I look forward to leading Intrinsic through 2016, which will be a pivotal year for the business.”

Recommended

Richard_Freeman_Intrinsic
13

Intrinsic hikes AR fees to meet ‘unprecedented’ FSCS levy

Intrinsic is to hike adviser fees from January 2016 to help it meet an “unprecedented” rise in the cost of regulation. In a letter sent to advisers last week, the Old Mutual-owned network said its FSCS bill was £5.5m, £2.8m more than was expected. Intrinsic says it has absorbed around half the cost of the […]

Richard_Freeman_Intrinsic
1

Intrinsic posts £1.3m loss as complaint costs bite

Restricted network Intrinsic has posted a £1.3m loss for 2014 mainly due to the cost of dealing with complaints. The loss compares to the £672,000 profit the company made in 2013. Intrinsic says the biggest factor contributing to the loss was potential exposure to Ucis funds “invested through Sipps in the Brandeaux fund and the […]

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpg

Sanlam bags £10m from Intrinsic stake sale

Sanlam UK received payment of £10m following the sale of its stake in advice network Intrinsic to Old Mutual Wealth, the firm’s annual report and accounts reveal. Sanlam was one of a number of major shareholders in Intrinsic prior to its acquisition by Old Mutual in February last year. Following the sale, two loans worth […]

Old Mutual Wealth 2014
8

Intrinsic loans ‘could breach FCA inducements rules’

Advice firms accepting loans from Intrinsic under its practice buyout scheme should be wary of breaching the FCA’s inducement rules, say compliance experts. It is understood the FCA has written to providers to request details of any loan arrangements they have with advice firms. Last month, Intrinsic announced it will make loans available to appointed […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment