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Intrinsic completes acquisition of Financial Adviser School

01/02/2016

Intrinsic, part of Old Mutual Wealth, today confirms it has completed the acquisition of the Financial Adviser School (the School). 

The business announced in October 2015 that it had reached a provisional agreement to acquire the School, founded by Sesame Bankhall Group in 2011.

Dedicated to training professional financial advisers, the School will be a key component of Old Mutual Wealth and Intrinsic’s commitment to supporting the growth and development of the adviser community.

Alongside exam support, the School specialises in helping students develop the soft skills which are key to a successful career in financial planning. This includes training in customer service, communications, business planning and other competencies.

The School will offer students two study options, both of which lead to completion of the Institute of Financial Services Level 4 Financial Planning Diploma:

  • The Financial Adviser School Diploma Programme for new trainees - Financial Planning Diploma Programme, designed for students with little or no prior exposure to providing financial advice.
  • The Financial Adviser School Diploma Programme for existing mortgage and protection advisers - A tailored version of the Financial Planning Diploma Programme designed for existing mortgage and protection advisers.

Old Mutual Wealth chief distribution officer, Richard Freeman says:

“We are delighted to complete the acquisition of the Financial Adviser School, a key component of our long-term commitment to face-to-face financial planning in the UK.

“Sesame has built a fantastic resource dedicated to educating aspiring financial advisers and we are pleased to have the opportunity to continue to build on the exceptional foundations they have put in place.”

Intrinsic chief executive, Andy Thompson says:

“Over the course of a decade Intrinsic has grown from an entrepreneurial start-up to part of a global wealth management business. As we mature as a company, it is important that we take a leading role in ensuring the future sustainability and prosperity of the entire sector and supporting the Financial Adviser School is an important part of that.

“Recruiting high-quality advisers is an important part of growing a successful business and sponsoring a trainee through the School gives firms an opportunity to enhance their business, while contributing to the development of the next generation of financial advisers.”

John Cowan, executive chairman, Sesame Bankhall Group comments:

“We are very pleased that the Financial Adviser School’s future has now been secured. Under this new ownership the School is well placed to continue to make an important contribution to training and nurturing our profession’s next generation of financial advisers.”

For more information contact

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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