Thrings completes sale of Intrinsic to Old Mutual Wealth

Jonathan PayneLaw firm Thrings has completed the sale of Intrinsic, the UK’s largest network of restricted and independent financial advisers, to wealth management provider, Old Mutual Wealth.

Thrings, led by senior corporate partner Jonathan Payne and associate solicitor Elaine Meyrick, provided advice on all legal and strategic matters to Swindon-headquartered Intrinsic and its management team.

Tax and accountancy advice was provided by KPMG.

Under the terms of the transaction, Intrinsic’s 3,000-strong network of restricted and independent financial advisers will become part of Old Mutual Wealth.

Jonathan Payne comments: “Intrinsic is one of the leading providers of financial advice and wealth management in the UK, and this deal will provide the business with the opportunity and financial platform to strengthen its reputation and meet the long-term needs of its customers.

“Thrings has worked closely with Intrinsic’s management team for the past eight years, and the depth of understanding we have acquired has enabled us to consistently provide legal advice which supports its plans for the future. We wish Wallace and everyone at Intrinsic well at what is an exciting time for the business.”