Intrinsic, part of Old Mutual Wealth, has completed the acquisition of Sesame’s Financial Adviser School for an undisclosed sum.
Intrinsic signed a provisional agreement in October 2015 to acquire the school, founded by Sesame Bankhall Group in 2011.
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The School provides training for professional financial advisers.
Intrinsic said that the School acquisition will be a key component of Old Mutual Wealth and Intrinsic’s commitment to supporting the growth and development of the adviser community.
The School will help students develop the soft skills which are key to a successful career in financial planning, provide exam support, as well as training in customer service, communications, business planning and other competencies.
It will offer students two study options, which will result in the completion of the Institute of Financial Services Level 4 Financial Planning Diploma.
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By GlobalDataThe Financial Adviser School Diploma Programme for new trainees has been designed for students with little or no prior exposure to providing financial advice, while the Financial Adviser School Diploma Programme for existing mortgage and protection advisers is a tailored version of the Financial Planning Diploma Programme for existing mortgage and protection advisers.
Old Mutual Wealth chief distribution officer Richard Freeman said: "We are delighted to complete the acquisition of the Financial Adviser School, a key component of our long-term commitment to face-to-face financial planning in the UK.
Intrinsic CEO Andy Thompson said: "Recruiting high-quality advisers is an important part of growing a successful business and sponsoring a trainee through the School gives firms an opportunity to enhance their business, while contributing to the development of the next generation of financial advisers."
Sesame Bankhall Group executive chairman John Cowan said: "We are very pleased that the Financial Adviser School’s future has now been secured. Under this new ownership the School is well placed to continue to make an important contribution to training and nurturing our profession’s next generation of financial advisers."
