International investment firm MitonOptimal has acquired Midlands-based IFA Central Investment Planning, adding assets under advice of more than £100m.
MitonOptimal said Central Investment Planning will enable it to develop its bespoke portfolio management offering by complimenting its existing model portfolio service and multi-asset fund range.
Central Investment Planning, which offers investment advice to high net worth clients, will become MitonOptimal Portfolio Management to bring it in line with the wider group, MitonOptimal said.
"With increased regulation for boutique investment businesses, MitonOptimal was a logical choice to partner for the future," said Central Investment Planning director Sandy 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."
MitonOptimal international managing director Scott Campbell added: "We are delighted to welcome [directors] Sandy Baker, Fiona McCaig and their associates to the team.
"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."
MitonOptimal was rebranded from Coram Asset Management in November after it acquired Minerva Fund Managers in July. The Coram brand has been retained across the multi-asset funds.
