Clime Investment Management Ltd (AU:CIW) has released an update.
Clime Investment Management Ltd has agreed to sell Madison Financial Group to Infocus Wealth Management, aiming to sharpen its focus on funds management and private wealth, with an expected operational profit boost of $500K. The $2 million deal, paid in convertible loan notes, is anticipated to simplify Clime’s business and drive cost efficiencies, while establishing a strategic partnership with Infocus. This strategic shift will allow Clime to leverage its $1.3 billion in funds under management and advice, while potentially sharing in the growth of Infocus.
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