View more on these topics

Intrinsic reports £15m loss

Losses at Quilter-owned advice network Intrinsic have increased again.

The business has reported an operating loss of £15.1m in the year ended 31 December 2017, an increase on the £8.9m loss it made the previous year.

According to accounts filed to Companies House, the increased loss at Intrinsic Financial Services was due to growing its subsidiaries through acquisitions and adviser recruitment, as well as “investment in infrastructure”.

The total number of advisers at the end of 2017 was 3,567, of which 1,561 are restricted. In 2016 there were 3,307 advisers.

Administrative expenses came in at £92.4m compared to £66.4m in 2016.

In a separate Companies House filing, Intrinsic Wealth, which is a subsidiary of Intrinsic Financial Services reported a 10 per cent drop in overall headcount to 264, of which 177 are financial planners.

According to the accounts, Intrinsic Wealth is aligned to the wealth network part of the Intrinsic business.

Intrinsic chief: Why I support contingent charging

A Quilter spokesman confirms that across the Intrinsic network total adviser headcount increased by around 8 per cent in 2017.

The spokesman says: “Among some subsidiaries, adviser numbers have decreased, largely due to the decision some advisers have made to move to a restricted business model within Intrinsic.”

Intrinsic Wealth also paid £900,000 relating to a long-term incentive plan for advisers.

The spokesman says: “Incentives are specifically structured to encourage adviser productivity and advice quality. They are overseen by the Quilter executive risk committee and the customer forum.”

He adds: “The long-term incentive plan encourages advisers to grow their business and promote good customer outcomes. Advisers that qualify for the programme do so based on advice quality and productivity alone.”


Intrinsic partners with Post Office

Intrinsic has added Post Office for Intermediaries to its panel alongside the lender’s announcement of the launch of two new mortgage propositions. The first, Post Office Family Link, gives would-be borrowers the option of raising a 10 per cent deposit against a close relative’s unencumbered property. The second, Post Office Retirement Link, allows retired customers […]

Paul Matthews Standard Life

Former Standard Life boss joins Intrinsic board

Former Standard Life UK chief executive Paul Matthews has joined Quilter advice network Intrinsic as a non-executive director. Matthews has also been appointed a non-executive director to the Quilter board. Matthews worked at Standard Life between between 1989 and 2017 and during his time was also group executive director and Standard Life Wealth chair. In […]

Former Intrinsic and Cofunds director joins consolidator

Former Intrinsic commercial director Adam Smith has joined Fairstone as chief operating officer. Smith will start at Fairstone with immediate effect and will also join the consolidator’s executive committee. Smith held the role of proposition director with Intrinsic from September 2015, moving to the position of commercial director in January last year. He is also […]

Delivering advice and guidance in the workplace

Three advisers share their ideas and experiences of helping employees with their financial decisions The workplace is instrumental in engaging people to save for retirement. How are advisers helping employers provide advice or guidance to their employees? Telephone guidance Financial education provider and advice firm Wealth at Work recently launched a telephone guidance service to […]

European Opportunities: 'It’s nice when stock selection results in a macro tailwind'

Amid significant macro headwinds in August, Mark Page explains why his fund’s focus on stock selection has helped it outperform a falling market in August. BESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswyBESbswy


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Hmmm ~ trying to put a brave face on things, but…..

Leave a comment


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