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Intrinsic to fund adviser training

Intrinsic to fund adviser training

Intrinsic is funding an adviser training programme provided by Quilter Financial Adviser School.

The 58-week programme includes specific Intrinsic training throughout the core programme and means advisers will be trained on the network's systems and processes.

The programme is open to any student who will become a restricted financial planner within the Intrinsic network and remain for two years once they’ve qualified.

Andy Thompson, chief executive of Intrinsic, said: "There are just 20,000 financial advisers for over 15 million people in the UK. The only way we can close that gap and widen access to advice is by helping to actively boost the number of advisers.

"We are thrilled that with this announcement we are able to create a further benefit of network membership for firms and remove a hurdle to them bringing new talent into their businesses."

To help more people get a quick start within the industry, the Financial Adviser School will also offer five-day administration training for new entrants so they can work as administrative support before becoming a financial adviser.

This will also be funded by Intrinsic for firms within its network.

Both Intrinsic and the Quilter Financial Adviser School are owned by Quilter, which recently rebranded from Old Mutual Wealth.

Darren Smith, head of the Quilter Financial Adviser School, said: "The financial services sector needs to work together to bring as many new people, from various backgrounds, into our industry as possible.

"We are excited that Intrinsic are offering a free course so firms don’t have to worry about their finances when thinking about bringing in new financial advisers."

He said 95 per cent of students who go through the school remained within the industry as either a mortgage adviser or a financial planner.

"The new Intrinsic specialised course, combined with our whole of market course, has the power to substantially increase the number of people entering the advice profession," he added.

damian.fantato@ft.com