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Intrinsic could prune riskier advisers from network

Old Mutual Wealth-owned network Intrinsic says it has no “programme” to de-authorise members amid speculation it is seeking to axe those it considers risky.

Money Marketing understands from a source close to the firm that the network is looking to cut underperforming advisers that are deemed a risk to the business.

Intrinsic has 3,300 advisers and is set to expand following the acquisition of financial advice network Caerus in February.

The source said that the size of the network meant that risks could arise within it. Caerus has more than 300 advisers.

Managing director of Intrinsic’s wealth network Steve Fryett says: “The network has a duty of care and a responsibility to advisers, customers and other stakeholders to monitor customer outcomes and ensure firms are meeting the highest possible standards of customer protection.”

“Where risks are identified it is the network’s responsibility to work with firms to help them achieve the required standards. Our intention is to grow the network and there is no structural programme to de-authorise any firms, however the network cannot authorise firms that do not meet expected standards.”

Intrinsic mooted plans to vet its advisers’ paraplanners to ensure they met a “quality kitemark” last year, but dropped the proposals after finding they were satisfied the paraplanners met the required standards.

Sesame Bankhall Group managing director Stephen Gazard is to join Intrinsic in the newly created role of group managing director this year.



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Old Mutual Wealth-owned Intrinsic is to acquire financial advice network Caerus The deal, which is expected to complete in the second quarter of this year, is awaiting agreement from Caerus shareholders and regulatory approval. Caerus has more than 300 advisers who manage more than £4bn of client assets. Intrinsic currently has 3,300 advisers. According to […]


Caerus chief to exit following Intrinsic takeover

Caerus chief executive and chairman Keith Carby will leave the business after a “transition period” following Intrinsic‘s takeover of the business. Earlier today Old Mutual Wealth-owned Intrinsic announced it will acquire the Caerus network in a deal that is expected to complete in the second quarter of this year. The deal is awaiting agreement from Caerus […]

Stephen Gazard SBG MD 700

Sesame’s Stephen Gazard to join Intrinsic

Sesame Bankhall Group managing director Stephen Gazard is to join Intrinsic in the newly created role of group managing director later this year. Gazard’s departure from Sesame was announced yesterday, amid an executive reshuffle. At Intrinsic, Gazard will work with chief executive Andy Thompson on the distribution strategy as well as leading the mortgage division. […]


SJP under the microscope: Where does the profit come from?

St James’s Place’s 2016 results dropped a few weeks ago, and it proved to be another bumper year for the advice market giant. SJP reported profits of £140.6m, alongside record gross inflows of £11.4bn over the year. But the firm has come under fire in recent months over complaints and charges. Money Marketing has dug into the […]


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. What do they mean by “risky adviser” Will the criteria on definition be based on the sales of products or lack of sales of products That is the question

  2. The word “risky” is not from Intrinsic but from the author. Please note. @ james.

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