Adviser network Intrinsic and its parent company Old Mutual Wealth (OMW) are to launch a national advice business aimed at the "underserved segments" of the market.
The new venture, run by former Sanlam UK distribution director Nigel Speirs, will be called Old Mutual Wealth Private Client Advisers and will be an appointed representative of Intrinsic, which was bought by OMW in July 2014. The new business will open ten regional offices in the next five years and employ around 250 advisers as well as support staff. Its main business growth will come from client bank acquisitions and strategic partnerships to serve the "underserved segments of the market", OMW said. The plan is to recruit graduates of adviser training academy the Financial Advise...
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