Intrinsic Financial Services is merging its IFA arms Intrinsic Wealth Management and Mint Financial Services to form a new IFA network, Intrinsic
The new network will have just under 600 IFA firms, with 270 firms from Mint and 320 from IWM.
National IFA franchise Ashley Law, which joined Intrinsic as an appointed representative of IWM in 2009, will come under Intrinsic Independent.
The network will be open for business on April 2.
Mint chief executive Ed Stuart-Brown has been appointed Intrinsic Independent chief executive. Intrinsic says it has not yet decided who will take on the remaining executive roles.
Stuart-Brown says there will be no job cuts as a result of the merger and has confirmed that Mint’s head office in Chesterfield will become II’s new headquarters.
Intrinsic’s restricted network offering, Intrinsic Financial Planning, will operatefrom IWM’s former head office in Swindon.
Stuart-Brown says: “We will not favour independent over restricted, we just did not want to muddy the waters between the two. We want to offer advisers a simple, clear choice.”
Facts & Figures Financial Planning managing director Simon Webster says: “Giving advisers independent and restricted options in the post- RDR world will give Intrinsic a wider reach.”