Intrinsic stake sale pocketed Sanlam £10m

Laura Miller
clock

Sanlam UK made £10m from the sale of its stake in advice network Intrinsic to Old Mutual Wealth.

Old Mutual bought Intrinsic in February 2014. The money exchanged in the deal has been kept private. But in its end of year accounts for 2014, Sanlam UK said the sale of its 23% shareholding in the network resulted in a "settlement" of £10m. It also triggered the repayment of all loans and preference share dividends due to Sanlam UK. This included paying back an outstanding debt to Sanlam of £9.47m, arising from a £7m loan Intrinsic took out at 15.4% interest in December 2012. Further reading: Old Mutual platform profits jump 46% as Intrinsic advisers get onboard As a res...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The Platforms Association acquires the UK Platform Awards

The Platforms Association acquires the UK Platform Awards

Clive Waller hands over the awards programme

Isabel Baxter
clock 30 July 2026 • 2 min read
FCA bereavement survey sent to just 12 firms – 'A very small dip in the ocean'

FCA bereavement survey sent to just 12 firms – 'A very small dip in the ocean'

Covers advisers, platforms and wealth managers

Sophia Panayi
clock 30 July 2026 • 3 min read
'Underperforming' sector does more damage to women over time

'Underperforming' sector does more damage to women over time

Y Tree executive director Eliana Sydes speaks to PA

Sophia Panayi
clock 29 July 2026 • 2 min read