Quilter has today confirmed it’s £46.2m deal for subsidiary Intrinsic to buy national firm Lighthouse has been completed.
Lighthouse chief executive Malcolm Streatfield will report to Intrinsic chief executive Andy Thompson (pictured) effective immediately.
Around 400 advisers will join Quilter’s ranks from Lighthouse, taking the total number of advisers within the network to 3,900 – just behind advice giant St James’s Place.
Of the 75 per cent of Lighthouse shareholders voting, 92.38 per cent voted in favour of the deal last month.
Thompson says: “I’m delighted to welcome the clients, advisers and staff of Lighthouse to Quilter and Intrinsic. Since the announcement of our offer we’ve had an opportunity to work a little more closely with Lighthouse to better understand their culture, operations and model.
“We are excited to continue to grow that understanding and work together, taking the best of both businesses, to become a stronger combined business.”