Former Intrinsic commercial director Adam Smith has joined Fairstone as chief operating officer.

Smith will start at Fairstone with immediate effect and will also join the consolidator’s executive committee.

Smith held the role of proposition director with Intrinsic from September 2015, moving to the position of commercial director in January last year.

He is also the former commercial director of Cofunds and spent seven years in senior roles with investment and insurance manager, Legal & General.

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He says: “Throughout my career I have been responsible for inspiring large cross functional teams to meet their strategic goals and ultimately to grow the businesses I have been involved in. I look forward to continuing this theme as part of the Fairstone team.”

Fairstone most recently added two firms to its acquisition programme in June, bolstering the group with another £220m asset under advice.

Fairstone chief executive Lee Hartley says: “This reflects our commitment to developing our senior leadership team and I have no doubt that Adam’s ability to deliver an enhanced wealth management framework can only support the future growth of the company.”