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Intrinsic recruitment methods under fire

Honister Capital has hit out at Intrinsic for writing to its advisers soliciting a meeting with its recruitment team while IFAs were in Brighton attending Honister’s annual conference.

A letter sent by Intrinsic strategic recruitment director David Kafetz, and seen by Money Marketing, says: “We understand you might be in Brighton on October 6-8 at the Honister conference. If you are currently thinking about your future options why don’t you have a confidential meeting with one of our team while you are there?”

Honister Capital strategy and business development director Alan Easter says this represents the industry’s “grubby” side. He says: “We all hoped these practices had died out with direct salesforces and sales directors rewarded by volume not quality.”

Intrinsic communications manager Ben Howell says: “It is standard recruitment practice for us to invite advisers to speak to us. We have one of our recruitment directors permanently based in Brighton so this seemed like an ideal opportunity to meet the top Honister advisers.”

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