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MitonOptimal adds £100m with adviser acquisition

MitonOptimal adds £100m with adviser acquisition

MitonOptimal has purchased Wolverhampton financial planning and wealth advisory business Central Investment Planning (CIP) for an undisclosed sum.

The purchase will add £100 million in client assets advised on by CIP to the £700 million currently managed by MitonOptimal. Company directors Sandy Baker and Fiona McCaig will also join the firm.

‘We are delighted to welcome Sandy Baker, Fiona McCaig and their associates to the team,’ said MitonOptimal International managing director Scott Campbell.

‘As we continue to develop our discretionary fund management, model portfolio services and funds business on a global basis, this was a sensible next step for both parties.’

The purchase is the third significant acquisition for the group in recent years following its acquisition of multi-asset investment house Coram in 2016 (bringing on board company co-founder James Sullivan, pictured) and private client manager Minerva in 2017. The company used those as a spring board to launch a managed portfolio service at the end of last year.

‘With increased regulation for boutique investment businesses, MitonOptimal was a logical choice to partner for the future,’ said Baker.  

‘We wish to focus on delivering superior client service and can leverage off the significant investment management experience, processes and resource that MitonOptimal has at its disposal. The deal puts in place a long-term secure investment solution for our clients.’  

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