Quilter has completed the acquisition of Lighthouse through its financial advice business, Intrinsic.
Lighthouse, which is an AIM listed directly authorised business, and Intrinsic are highly complementary in structure and their focus on delivering good customer outcomes. Lighthouse is expected to significantly contribute to the delivery of Quilter's vision to supply high quality controlled advice.
Quilter expects the group's communities and wealth advisory channels to join Intrinsic's current adviser network; one of the largest in the UK, supporting over 3,500 advisers.
Lighthouse’s national advisory channels, Lighthouse Financial Advice and Lighthouse Carrwood, display strong alignment with Intrinsic's national advice business.
Andy Thompson, CEO of Quilter’s advice businesses 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, CEO of Lighthouse, commented:
‘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.’