Hidden covenant clause sees adviser barred from Intrinsic
Mike Wilson director of Scottsdale said he was not prepared to comment on what has happened contractually with an ex-adviser.
He also described the matter as “highly confidential”. Unsurprising, a clause like this is totally indefensible and hopefully very embarrassing.
Alex
11 Dec 2012 | 11:03
Hidden covenant clause sees adviser barred from Intrinsic
If this is how Intrinsic advisers treat their own appointed representatives with clear and plain disclosure, imagine what disclosure and caveats they provide their clients…. It doesn’t bode well does it.
Good luck to the AR who has got out and will now see (hopefully) the other side to the industry where trust and the best interest of everyone concerned (adviser, client and provider alike) is paramount.
Begs the question
11 Dec 2012 | 13:37
Hidden covenant clause sees adviser barred from Intrinsic
The Intrinsic proposition is not the only one out there so finding an alternative shouldn’t be a problem and it’s their loss in the end.
As a broker who has had nothing but trouble with networks since m-day, you might want to consider going DA.
Mark Sutton
11 Dec 2012 | 17:26
Hidden covenant clause sees adviser barred from Intrinsic
For the life of me, I still remain incredulous why oh why adviser still go for networks. How many more examples do you need to see to realise that there’s no network, yes you heard, there’s no network, not even a single one that will think of your interest, the AR.
I think a typical one is that if there’s a complain about you the network will suspend you until the investigation is complete and you will not be able to write business i.e you are already branded criminal before you are proven guilty…
Abi
11 Dec 2012 | 18:02
Black and White directors fined and banned; Money Partners lent firm £1m
Whilst I have no sympathy with Black and White, bearing in mind all the other balls-ups made by the FSA, what the hell were the FSA doing during their watch, other than driving IFAs and financial services round the bend.
Terry
12 Dec 2012 | 17:11
Thank you for your comments this week.
