Defaqto has acquired financial institution MI Capital Research (MICAP) from Indagate Group to extend its reach from multi-asset, single strategy and model portfolio solution investment products into tax-advantaged products.
Speaking to Professional Adviser, Defaqto chief executive John Milliken described it as "an exciting acquisition" which is expected to benefit advisers by providing access to Seed Enterprise Investment Schemes (SEIS), Enterprise Investment Schemes (EIS), and inheritance tax products - expanding the availability of new products into the advice market. MICAP offers independent research and advice tools on tax-advantaged products, as well as a platform that links together over 1,000 IFAs to a range of Venture Capital Trusts, EIS, SEIS, and Business Relief products. "It extends our reach ...
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