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

Advisers call on chancellor Healey to back business and revisit IHT reforms

Advisers call on chancellor Healey to back business and revisit IHT reforms

New chancellor will need to ‘stand fast on the plans ahead’

Sophia Panayi
clock 21 July 2026 • 3 min read
The two clocks of Burnhamism: Markets on Monday, clients over a decade

The two clocks of Burnhamism: Markets on Monday, clients over a decade

'Social care is the planning earthquake'

Phillip Wickenden
clock 21 July 2026 • 5 min read
HMRC social media scam report email used just three times

HMRC social media scam report email used just three times

‘Dispiriting’ figure suggests public knowledge gap on fraud reporting

Jen Frost
clock 20 July 2026 • 5 min read