IFA leaves Intrinsic over pressure to go restricted

Carmen Reichman
clock

An IFA has left network Intrinsic after he felt he was being nudged towards adopting a restricted proposition.

IFA Raj Shah (pictured) of Blue Wealth said it appeared the network, which was taken over by Old Mutual earlier this year, was trying to "make everybody restricted". Shah, who left late last month to join IFA Santorini Financial Planning as an appointed representative, said "financial restrictions" imposed on IFAs by the network were "ludicrous". A particular problem, Shah said, was the cost of membership, which consists of a fixed sum plus a percentage based on turnover, and that Intrinsic would question his productivity levels referring to performance indicators (KPI) based on sales...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Marlborough makes 'significant' investment in London-based planner First Wealth

Marlborough makes 'significant' investment in London-based planner First Wealth

First Wealth manages approximately £480m of assets

Sahar Nazir
clock 28 March 2025 • 2 min read
IFS director warns of 'months of speculation' over Autumn tax rises

IFS director warns of 'months of speculation' over Autumn tax rises

Likely that taxes could be raised further, thinktank director warns

Sahar Nazir
clock 27 March 2025 • 2 min read
Shackleton adds £200m in assets with PK Financial Planning buy

Shackleton adds £200m in assets with PK Financial Planning buy

Acquires financial planning, employee benefits and DFM businesses

Jenna Brown
clock 27 March 2025 • 1 min read