Midas Capital is set to offload its iimia Wealth Management division to Jardine Lloyd Thompson for £7.25m.
Midas Capital chief executive, Simon Edwards, says the company is in talks over a possible sale of the business following share sliding 80% yesterday.
iimia MitonOptimal (iMO) has conditionally agreed to merge with Liverpool-based Midas Capital Partners.
Huge discounts on property investment trusts could create attractive buying opportunities for investors looking for a cheap and liquid way into the commercial property sector.
Iimia and MitonOptimal have announced they are planning an £18.6m merger.
Advisers will have access to iimia's funds for the first time through a platform after it announced its fund of funds OEIC range will be available on Cofunds.
iimia Investment Group has appointed Josh Adams as regional sales manager at the group's fund management division.
Fund management group iimia says current turmoil in global financial markets could prevent a far more serious crisis in the future.
Nick Greenwood, fund manager on the iiimia Accelerated Fund, says he sees the current narrowing of discounts in the investment trust sector holding firm, despite the uncertainty in global stock markets of recent weeks.
Iimia subsidiary Exeter Fund Managers has been put into administration after failure to agree with the FSA on a solution to losses associated with split capital investments.