Clime anticipates growth in adviser recruitment

In a filing to the ASX this week, Clime Investment Management said it will pursue “growth in adviser recruitment” in the third quarter, with opportunities for joint ventures and acquisitions.  

In its half-year results, Clime revealed that recently acquired Madison Financial is anticipating reporting an increase in adviser numbers in full year 2022.

According to Clime, the wholesale licensing and investment service “is attracting high quality professional advice firms seeking support for their high-net-worth clients”.

Clime had just over $4 billion in funds under advice at 31 December, up 6.4 per cent from $3.8 billion at the end of June last year.

Funds under management (AUM) expanded 4.5 per cent over the same period to $1.4 billion. 

Last September, Clime announced a board reshuffle following the departure of Brett Spork and Peter Beaumont and the appointment of Dr Michael Kollo, Ms Susan Wynne and Mr Ronni Chalmers. The move came only a little over a month after former Clime director Neil Schafer was voted off the board by shareholders.