Intrinsic to take over Caerus adviser network

300-strong adviser network

Old Mutual Wealth has exchanged contracts for a takeover of adviser network Caerus via its own network Intrinsic.

Old Mutual Wealth announced this morning it had reached a conditional agreement to acquire Caerus, a network of over 300 advisers managing more than £4bn of client assets, from offices in Swindon and Manchester. The acquisition is conditional upon agreement from Caerus shareholders and regulatory approval, but the Caerus board have unanimously opted to accept the offer with regards to their own holdings and have recommended the offer to other shareholders. It is expected to complete in in the second quarter of this year 2017 and will join Intrinsic's own 3,300 network of advisers. ...