The deal for Old Mutual Wealth to acquire Intrinsic has been rubber stamped by the FCA.
The move brings together Intrinsic's network of 3,000 advisers with Old Mutual Wealth's investment platform and asset management solutions.
The companies have not disclosed the buy out price.
Old Mutual Wealth, comprising Skandia and Old Mutual Global Investors, has cited the buy out of Intrinsic as an important step in the company's strategy of creating the UK's leading retail investment business.
Richard Freeman, chief executive of Intrinsic, joins the Old Mutual Wealth executive committee with immediate effect and BUPA chairman Lord Sandy Leitch, non-executive chairman of Intrinsic, will be appointed to the board of Old Mutual Wealth Management as non-executive director.
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Mr Freeman said: "Ownership by Old Mutual Wealth will bring a host of benefits to our customers and to our business.
"It will deliver a first-class proposition with the investment platform, investment solution and advice relationship fully aligned in a way that provides real value for money.
"The support of a single, stable shareholder with Old Mutual's financial strength and global experience in advice and distribution will further strengthen the business and deliver long-term security for our customers."
Intrinsic has 3,000 financial advisers who operate either on an independent or restricted basis. Intrinsic's business model will remain and will continue to support both.
Intrinsic will remain distinct within Old Mutual Wealth, with its own existing brand and management team. The existing Intrinsic teams will continue to run the business on a day-to-day basis.
Paul Feeney, chief executive of Old Mutual Wealth, said: "The acquisition of Intrinsic is an important part of our integrated customer proposition that now covers financial advice, actively managed portfolios and wealth management products.
"We believe wealth management needs to be more accessible to customers and having 3,000 financial advisers as part of our business will help us deliver that."
The Skandia platform and protection products, as well as a range of Old Mutual Global Investors' funds will soon be available via Intrinsic's selected panels.
Three members of Old Mutual Wealth's Executive Committee have been appointed to the Intrinsic board as directors:
1. Jeremy Charles, chief operating officer
2. Steven Levin, global head of distribution
3. Kevin Lee-Crossett, chief risk officer