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Intrinsic drops four providers in protection panel review

Four providers have been removed from the list of companies offering protection products to Intrinsic’s restricted advisers.

Intrinsic drops four providers in protection panel review

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Advisory networking giant, Intrinsic, put together the new ‘protection panel’ after three independent research houses – Defaqto, CIExpert and F&TRC – conducted a review on each provider’s products, features and benefits.

Zurich, Cirencester Friendly, Shepherds Friendly and LV= have been taken off the updated list, which now includes Legal & General. A spokesperson from Intrinsic, which is owned by Old Mutual Wealth, was unable to confirm why the providers were taken off the list.

New panel

The panel is now comprised of seven members, including Friends Life, Old Mutual Wealth, AEGON, Bright Grey, Exeter Family Friendly, Vitality and the newly added, L&G.

This list is designed to make it quicker and easier for restricted advisers to choose the most suitable products for clients.

“Intrinsic Group is a hugely important distribution network and we are delighted to be able to work with Intrinsic to develop protection sales,” said Steve Bryan, director of L&G’s intermediary division.

“Intrinsic’s 3,000 strong adviser network is the largest in the UK and it’s important that those advisers have access to a good range of products in order to drive the best possible customer outcomes.” 

Bedrock of good advice

The UK-based network was bought by Old Mutual Wealth last year.

Intrinsic chief executive, Richard Freeman, said: “Intrinsic sees protection as the bedrock of all good financial advice, and we have an excellent track record of supporting our advisers in the protection market.

“I believe our new protection panel is a genuinely exciting development which will offer real benefits to our customers.”

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