Instrinsic has completed the acquisition of Caerus Capital Group which was announced earlier this year.
The deal has now been given regulatory and shareholder approval.
It will see advice network Caerus - which currently allows its advisers to operate on both a restricted and independent basis - become a wholly-owned subsidiary of Intrinsic, with its advisers becoming restricted and using the Intrinsic advice process over a phased transition on a firm by firm basis.
The acquisition will add more than 300 financial advisers to the Intrinsic network, taking the total number of advisers authorised through the network to around 3,700.
Intrinsic chief executive Andy Thompson said: “Caerus has grown to become one of the most highly-regarded networks in the industry, and we now have a fantastic opportunity to continue our growth together.
“I’d also like to thank Keith Carby for the remarkable contribution he has made to Caerus and for giving Intrinsic the opportunity to continue that work.”
Mr Carby, the chief executive and chairman of Caerus will leave the business while its managing director, Andy Ferns, will stay during the transition.
Mr Carby said: “I’d like to thank all our staff and advisers who have built Caerus and helped make it what it is today.
“The transaction is testament to the quality of what they’ve produced and confirmation of its value.
“Intrinsic and Old Mutual Wealth now offer them the opportunity for even greater success. I wish all concerned the very best.”
Last year a deal between Sanlam and Caerus fell through but neither party revealed why this was.
In recent years Intrinsic has grown through a number of deals made by its parent company, Old Mutual Wealth.
These include the acquisition of Positive Solutions in 2013 and the agreement to take on more than 200 Sesame Bankhall Group advisers in 2015.
damian.fantato@ft.com
