Intrinsic is launching a national advice business with its UK-based parent company Old Mutual Wealth and plans to acquire The Financial Adviser School to boost the new operation.

Old Mutual Wealth and Intrinsic, the UK financial advisor network it acquired last year, have launched a national advice business.

The new business, called Old Mutual Wealth Private Client Advisers, will provide financial planning and investment management solutions with repeatable processes across a national advice proposition. The business will be an appointed representative of Intrinsic and will leverage the investment capability of Old Mutual Wealth's subsidiaries, Quilter Cheviot and Old Mutual Global Investors.

Over the next five years, Old Mutual Wealth Private Client Advisers, which will be led by managing director Nigel Speirs, plans to provide services from ten regional offices, with a staff of around 250. The business aims to grow through client bank acquisitions and strategic partnerships that will allow it to provide advice to underserved segments of the market.

To further fuel the growth of the new business, Intrinsic has agreed to acquire The Financial Adviser School and is in advanced talks with current owner Sesame Bankhall Group. The School launched in 2011 to support those planning to pursue a career as a financial advisor. The purchase means the facility will be continue to support students currently studying with the programme and accept a new intake in 2016. 

“It is vital that we ensure the future of the industry by bringing new blood into the sector. This can only be achieved if talented graduates and others looking for a new challenge see the financial advice profession as a rewarding career and have access to quality training and support,” said Intrinsic's chief executive, Richard Freeman. “Our planned investment in the Adviser School is a real signal of our long-term commitment to broadening access to financial advice in the UK.”

“Providers have historically not done enough to support the growth and development of the advice market. Old Mutual Wealth will play a leading role in strengthening the footprint of advice in the UK. This means supporting advice in all its forms whether our national advice business; regional and local advisors; or appointed representatives of Intrinsic and other networks,” said Old Mutual Wealth's chief executive, Paul Feeney.