The group says the deal would create a business with around 750 financial and mortgage advisers.
The acquisition is in the final stages and awaiting FSA approval for a change of controller.
On-line Partnership, which also owns Innovate Mortgages, says it would continue to operate the network brands separately for the “foreseeable future”
The Whitechurch Network posted a £58,848 pre-tax profit for 2011 after posting a £103,077 loss in 2010. It has around 180 advisers, including 30 mortgage and general insurance advisers.
Ian McIver, managing director, The Whitechurch Network, says: “We are excited at the prospect of becoming part of this larger group and being able to deliver even better level of service to our members.”
Kevin McDonagh, chief executive of On-Line partnership, says: “We have been looking hard to find a good quality distributor to add to our group of companies and one that will enhance our existing reputation. We have been impressed with the quality of the advisers within The Whitechurch Network and believe that we can bring greater levels of resources to these advisers to secure their business aims in the medium to long term.”