Intrinsic Financial Services, one of the UK's largest and fastest growing adviser firms, has today announced the selection of Investment Funds Direct Limited (IFDL) as the wrap technology to power the future growth of their business.
IFDL is the provider of the independent wrap platform which is also marketed under the trading name Ascentric.
Swindon-based Intrinsic Financial Services was established by Lord Leitch, the former CEO of Zurich's global life business, in late 2005 as a multi-tie adviser network. The company acquired national IFA Network, Mint Financial Services, in February 2008. Today, Intrinsic has over 1650 advisers across the Group, and provides its members with a choice of restricted advice through the original multi-tie offer, or independent advice through their whole of market proposition, all on the same platform and systems.
Critical to the selection of IFDL was the dynamic nature of the in-house technology, which will enable Intrinsic to create a bespoke platform solution that meets the needs of their advisers and clients. This announcement sees Intrinsic Financial Services using open architecture wrap platform technology for the first time, with the Group expected to conduct a pilot during 2010 followed by a full rollout at the start of 2011.
"We are very pleased to be working with IFDL. Their state of the art technology will allow us to develop our own tailored solution that can provide a single standard across the multiple services we offer", explained George Higginson, Group Marketing Director at Intrinsic Financial Services. He added, "IFDL's ability to provide a consistent administrative and client process will allow us to deliver a high quality, platform enabled advisory service well into the future."
Richard Goodall, Sales and Marketing Director at Ascentric stated, "We are delighted to be working with such a progressive firm as Intrinsic Financial Services. For such a major adviser Group to partner with us is testament to the strength of our proposition and the people working at IFDL, and clearly illustrates our ability to drive sustainable value within their business."