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Intrinsic announces plans to acquire Financial Adviser School

02/10/2015

Intrinsic, part of Old Mutual Wealth, is today announcing it has provisionally agreed to acquire The Financial Adviser School.

It is one of two key initiatives announced today, which form an important part of Old Mutual Wealth’s ongoing commitment to financial advice (see Old Mutual Wealth and Intrinsic launch national advice business).

Intrinsic chief executive Richard Freeman yesterday informed members at the network’s annual conference that the business is in advanced stage discussions with the School’s current shareholder, Sesame Bankhall Group, over a proposed acquisition.

The planned acquisition will allow the UK’s leading facility dedicated to training the next generation of professional advisers to continue to support students currently studying with the programme and accept a new intake in 2016.

The Financial Adviser School launched in 2011 to support those planning to pursue a career as a financial adviser.

Students receive training in the soft skills required for a successful career in the industry, as well as academic support. This includes undertaking business management modules and training in customer communication skills, as well as exam support. Students study over an 18 month period to attain the CII Diploma in Regulated Financial Planning, and the CF6 Mortgage Advice qualification.

In addition to the Financial Adviser School, Old Mutual Wealth will continue to provide exam support to advisers through its Investment Academy, designed for those studying toward their AF4 Investment Planning qualification. The CII AF4 qualification is one of the six modules that make up the Advanced Diploma in Financial Planning, leading to Chartered Financial Planner status. 

Intrinsic chief executive, Richard Freeman says:

“It is vital that we ensure the future of the industry by bringing new blood into the sector. This can only be achieved if talented graduates and others looking for a new challenge see the financial advice profession as a rewarding career and have access to quality training and support.

“Our planned investment in the Adviser School is a real signal of our long-term commitment to broadening access to financial advice in the UK.

 “The Financial Adviser School has been a hugely successful innovation pioneered by Sesame, which they are rightly very proud of. We are grateful for the time and effort they have put into the project and we are extremely pleased to have the opportunity to build on that success and continue to support the staff and students currently involved in the Financial Adviser School.”

John Cowan, executive chairman of Sesame Bankhall Group comments:

“We are proud of the contribution made by the Financial Adviser School and we are pleased its future has been secured under Intrinsic’s ownership. There are now over 100 alumni delivering professional advice in firms across the country as a result of this initiative and today’s announcement means it will continue to go from strength to strength”.

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076tim.skelton-smith@omwealth.com
Michael GlenisterOld Mutual Wealth020 7778 963807469 144535michael.glenister@omwealth.com

For more information on the Financial Adviser School please visit: www.thefaschool.co.uk/

To contact the School, please contact: info@theFASchool.co.uk

Alternatively, for job information enquiries please contact: Neil.Harvey@omwealth.com

Notes to editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £116.5 billion in customer investments (as at 30 June 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.