Intrinsic founder and former chief executive Richard Freeman will retire from the business in June 2018.
Freeman signaled in 2015 that he would leave the advice network at some point in early 2017.
Intrinsic former managing director Andy Thompson replaced him as chief executive in December 2015, with Freeman remaining at the firm as an executive adviser while Intrinsic prepared its separation from Old Mutual.
The firm says Freeman now wants to pursue his “own personal interests” and continue to be active in the charity sector.
Freeman was appointed as chief executive of Intrinsic in 2010, having first joined as sales director in 2005. During his tenure, he led the acquisition of the network by Old Mutual Wealth in July 2014.
Old Mutual Wealth chief executive Paul Feeney says: “I have really enjoyed working with Richard and have personally valued his insight and guidance. Reluctantly I have had to accept that he does mean it this time. On behalf of everyone at Old Mutual Wealth, we send him our good wishes for the future.”
Freeman says: “Having personally twice announced my retirement from Intrinsic and Old Mutual Wealth before, I can confirm that this time it’s for real. I have enjoyed a long, rewarding and full career and I believe that it is now right for me to step down from my full-time executive role to explore other opportunities and pursue a slightly less hectic pace of life.
“I am confident that I leave Intrinsic and Old Mutual Wealth in fantastic shape and very well-placed to succeed in the future. I am proud to have played my part in building two very successful businesses. I have thoroughly enjoyed working with some exceptional people along the way and I would like to thank all of my colleagues on the Old Mutual Wealth executive committee and the Intrinsic board for their companionship and support. In particular, I want to thank Paul Feeney for his vision and leadership.”
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