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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:

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

Old Mutual Wealth oversees £131.3 billion in customer investments (as at 30 September 2017).

It has an adviser and customer offering spanning: Financial advice; investment platforms; multi-asset and single strategy 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; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Old Mutual Wealth’s multi-asset investment solutions business.

Old Mutual Global Investors (‘OMGI’) is the asset management business of Old Mutual Wealth with £39.8bn funds under management (as at 30 September 2017). On the 19th December 2017, Old Mutual Wealth announced that it has agreed to sell its Single Strategy asset management business to the Single Strategy Management team and funds managed by TA Associates. The proposed transaction is subject to customary closing conditions, including regulatory approvals. 

Following managed separation from Old Mutual plc, Old Mutual Wealth will rebrand to Quilter plc. Each of the businesses within the Quilter Plc group will be rebranded over a two-year period, with the exception of Quilter Cheviot, which will retain its existing name.

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million (as at 31 December 2016) customers across the world and has a total of £212.3 billion of assets under management (as at 30 June 2017).

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