Posted inBusiness moves

Australian investment manager buys wealth firm

The deal adds $267m in funds under management.

Australia-based Clime Investment Management has acquired MTIS Wealth Management for A$7m ($5.2m), reports our sister publication, International Adviser.

The deal is expected to complete on 1 July 2022, and the sum will be paid in three instalments.

It is not clear how the A$7m will be split, but the first payment will be made at completion, and the remainder paid over the following two years, subject to agreed adjustments.
MTIS is headquartered in Melbourne and offers wealth management, financial advice and accounting/tax services and has around A$380m FUM.

MTIS founders Pauline Hammer and Anna Garuccio will remain with the business post-acquisition.

Clime chief executive Annick Donat said: “The acquisition of MTIS fits into Clime’s strategy to create wealth for our clients, supported by high quality advice. Pauline, Anna and the team have an outstanding track record of assisting their clients to achieve their financial aspirations, which aligns with our company values.

“This transaction expands our private wealth presence in Melbourne and creates new market opportunities for the group.”

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