Boost for Intrinsic as turnover rises by 40%

Intrinsic Financial Services has reported a turnover of £84m for 2008, a 40% increase on the previous year\'s figure of £58m.

Adviser numbers at the network swelled to 1,527 at the end of last year, up from 1,250 in 2007.

Some 232 advisers came across to Intrinsic last year as part of its acquisition of Mint Financial Services last February.

George Higginson, managing director of commercial development at Intrinsic, says: “We have a unique selling point in that an appointed representative can join us whether their background is mortgage-only, financial planning or whole of market. There is a place for everyone under one IT system.”

Intrinsic’s overall new business income was £51.9m for 2008, against £57m for 2007. Protection business accounted for £19.8m of this total and mortgages madeup £19.7m, which Higgin-son says isn’t too far off the £24.6m that was generated from mortgages in 2007.

Despite the market pessimism, he says there are still opportunities.

He adds: “If you read some of the wider media you’d think it was Armageddon and no lending was being done. That’s not correct.”