The merger and granting of a discretionary fund management (DFM) licence have been approved by the Isle of Man Financial Services Authority.
The move is part of a growing trend of forging alliances between finanical advisers and different types of asset managers, such as DFMs, to develop their investment proposition for clients.
In the past year companies like Old Mutual Wealth bought AAM Advisory, the largest expat-focused IFA firm in Singapore, while Convoy, one of the largest IFA firms in Hong Kong, paid £24m ($30.2m, €27.8m) for a stake in UK investment platform Nutmeg.
Business succession
The newly merged businesses will operate under the MitonOptimal banner and focus on opportunities within the Isle of Man discretionary management market, while continuing to deliver service, advice and investment knowledge to Blythe Financial’s existing clients and MitonOptimal’s global client base.
Founded in 2002, Blythe Financial is a chartered financial planning business that provides comprehensive financial advice, financial planning and financial structuring solutions to its clients via its Isle of Man office.
Its client base includes high net worth individuals, pension schemes, trusts and charities.
Managing director Alan Blythe said: “When we first thought about partnering with another business, it was important to us that both the ethos and investment philosophy of that partner were aligned with our own. MitonOptimal is the perfect fit for the succession of our business to the next level and will further enhance the sophistication of our investment proposition.
“Blythe Financial will be rebranded as MitonOptimal, and all management and staff will be staying on, as we continue building on what has been a highly successful business model to date.”
Fruitful business partnership
Scott Campbell, group managing director and chief investment officer at MitonOptimal, said: “We are very excited that Alan and Sue Blythe, plus their great team of people, will be joining the MitonOptimal group of companies, as we share the same investment philosophy and business culture.
“Alan will be joining the MitonOptimal International Limited board of directors, and we look forward to a long a fruitful business partnership together, as we continue to develop our DFM business, advisory services and funds business on a global basis.”
Also founded in 2002, MitonOptimal is a specialist global multi-asset management company, with a presence in Guernsey, South Africa, United Kingdom, Isle of Man and Singapore.
The group offers a range of DFM, bespoke portfolio management, advisory services and multi-asset funds to a broad spectrum of intermediaries and institutional investors around the world.
