Intrinsic scoops Best IFA Network award
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Intrinsic was named Best Mortgage IFA Network at the Mortgage Strategy Awards, beating the likes of Sesame, Personal Touch and Openwork to scoop the prize
Intrinsic’s commercial managing director, George Higginson (left), accepted the award on behalf of the Intrinsic Group at the glittering event in London’s Grosvenor House hotel.
Judges praised Intrinsic’s ability to train mortgage advisers to operate in all areas of financial planning - a strategy that helped Intrinsic maintain production levels and profit, and significantly grow its head count in 2009.
A trusted pair of hands
Feedback from lenders involved in the discussions referred to Intrinsic as a trusted pair of hands through the economic downturn, with many praising it for being easy to do business with.
The award is a fantastic success story for Intrinsic, which only began trading in March 2006. It has become one of the leading financial services distribution firms in the UK.
Based in Swindon, Intrinsic is the brainchild of Lord Sandy Leitch, former chief executive officer of Zurich’s Global Life Business.
Initially set up as a multi-tie network, the group expanded following the acquisition of Mint Financial Services in 2008 and the subsequent launch of a Wealth Management IFA arm last year.
Embracing change
Higginson says: “Being named Best IFA Network is a great honour for Intrinsic and testament to the hard work of all our ARs, advisers, managers and staff.”
He believes the challenges posed by the Retail Distribution Review will provide Intrinsic with further opportunities for growth.
He adds: “There is no doubt the RDR will bring about major changes. Initially, we need to ensure our members are supported in obtaining the required qualifications, which we are achieving through our free RDR workshop programme. We also need to be aware of changes around remuneration and the opportunities that arise from a new way of doing business.”
Mortgage market remains essential
Despite the focus on full financial planning, Higginson insists that mortgages are still a vital part of Intrinsic’s overall business.
He says: “The Intrinsic Group is committed to the mortgage market and to helping members look after their clients’ mortgage requirements. In a shrinking market, it is vital for advisers to be part of a well-respected organisation with considerable scale as it is only the major players that lenders want to deal with.
“Our overriding aim is to maximise our relationships with lenders and providers to give members access to the best products available.”
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