Central Investment Planning, an intermediary business with over £100m assets under advice, has been purchased by the fund manager Miton Optimal UK.
The director of the Wolverhampton-based Central Investment Planning, Sandy Baker, said:
“With increased regulation for boutique investment businesses, Miton Optimal UK was a logical choice to partner for the future.
“We wish to focus on delivering superior client service and can leverage off the significant investment management experience, processes and resource that Miton Optimal has at its disposal.
“The deal puts in place a long-term secure investment solution for our clients.”
As a result of the acquisition, the firm’s name will be changed to Miton Optimal Portfolio Management. This will be the second name change in less than two years: in 2016, Miton Optimal became Miton Optimal UK after the acquisition of Coram Asset Management.
