Finance News

Intrinsic completes acquisition of Lighthouse

Rozi Jones
|
12th June 2019
deal agreement business hand handshake acquire
"I’m delighted to welcome the clients, advisers and staff of Lighthouse to Quilter and Intrinsic."

Quilter has completed the acquisition of DA firm Lighthouse through its subsidiary, Intrinsic Financial Services.

Quilter says it will be working closely on integration plans with Lighthouse over the coming months.

The Intrinsic network has over 3,500 financial advisers and the purchase of Lighthouse will add a further 400 advisers to this figure.

Malcolm Streatfield, CEO of Lighthouse, will now report to Andy Thompson, CEO of Intrinsic.

Andy Thompson commented: “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.”

Malcolm Streatfield added: “This transaction is testament to the quality of what Lighthouse’s staff and advisers have produced and confirmation of its value. Quilter and Intrinsic now offer us the opportunity for even greater success.

“We look forward to working hand in hand with Quilter and Intrinsic as we become one business and ensure that integration takes place at the right time for the business. We aim to keep interruption to normal business activities to an absolute minimum for clients, advisers and staff.”

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