Clime Investment Management acquires MTIS Wealth Management and ISAS

Clime Investment Management Limited (CIW), an Australian investment advice company, said that its board has reached an agreement with the principals of MTIS Wealth Management and its in-house accounting firm Investment Strategists Accounting Services (ISAS) to acquire their operating assets for A$7 million.

MTIS is a Melbourne-based wealth management, advisory, and accounting/tax services business. It was founded by Anna Garuccio and Pauline Hammer.

The company has nearly A$380 million in funds under management and administration.

Operating for 25 years, MTIS caters to over 300 clients in Australia.

Clime Private Wealth, a unit of Clime Investment Management, and MTIS are said to offer similar and complementary services. Clime Investment Management said that it will maximize synergies by merging the offices of the two entities located in Melbourne.

Annick Donat — Clime Investment Management CEO said: “The acquisition of MTIS fits into Clime’s strategy to create wealth for our clients, supported by high quality advice. Pauline, Anna and the team have an outstanding track record of assisting their clients to achieve their financial aspirations, which aligns with our company values.

“This transaction expands our Private Wealth presence in Melbourne’s CBD and creates new market opportunities for the Group. We are delighted to have the MTIS team become part of the Clime family and look forward to a successful future together.”

For Clime Investment Management, the deal with MTIS follows its recent acquisition of Ralton Asset Management and an alliance with Torica Funds Management.