Old Mutual Wealth, which acquired restricted and independent adviser network Intrinsic three years ago, told the stock exchange the transaction was expected to complete in Q2, subject to shareholder and regulatory approval.
The statement said: “The acquisition will complement Old Mutual Wealth’s existing controlled distribution footprint in the UK, which includes Intrinsic, and Old Mutual Wealth Private Client Advisers, the branded national adviser firm established in 2015.”
OMW said the deal would boost assets under advice by £4bn, and upon successful completion it would disclose further details regarding brand and business model integration.
