Stephen Gazard has been appointed group managing director at Old Mutual Wealth’s financial advice network Intrinsic, to focus on the company’s distribution.
Previously at Sesame Banking Group (SBG) for four years as managing director, Mr Gazard will work in the newly created role alongside Intrinsic chief executive Andy Thompson with a focus on distribution strategy and development of the mortgage division of the network.
The move comes one day after an announcement Mr Gazard was leaving Sesame, and follows news Intrinsic has bought financial advice network Caerus as part of the ongoing effort to grow the business’s distribution capability.
Mr Thompson said: “At Intrinsic we aim to be an industry leader, demonstrating best practice in face to face advice and investing in the future of the professional financial planning industry. Stephen shares that vision with us and will be a hugely valuable addition to the executive team.”
Last year Intrinsic announced that it would create three new business channels, each with its own managing director with full profit and loss responsibility.
Nigel Speirs will continue to lead Old Mutual Wealth Private Client Advisers while Stephen Fryett look after the Wealth Network for investment and pension advisers.
Mr Gazard said: “I am delighted to be joining Intrinsic at such an exciting time in its evolution. They have a hugely talented and admired team, a membership to be envied, and a parent company in Old Mutual Wealth that sees high quality financial planning sitting at the core of its long-term strategy.”
While at SBG Mr Gazard worked with Intrinsic on the integration of more than 200 financial planners who joined the company, after Intrinsic was selected as the preferred partner for pensions and investment advisers following SBG’s decision to focus on mortgage, protection and directly authorised services.
julia.faurschou@ft.com
