Adviser firm picks up £55m of assets from suspended London DFM

£55m in AUM

Sophie King
clock • 1 min read

Devon-based advice firm Philip J Milton has been given the responsibility of managing £55m on behalf of more than 1,600 investors following the recent suspension of a London-based DFM.

Discretionary fund manager (DFM) Organic Investment Management entered into administration at the end of last year and was told it must not carry out any regulated activities without the Financial Conduct Authority's permission.  Philip J Milton said the funds clients were invested in included two unregulated undertakings for collective investment in transferable securities (UCITS) funds, which are currently suspended and administered by European and Global Investment in Dublin.  Devon adviser attains Chartered status at 23 years old Philip J Milton managing director Philip Milton ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

FCA: Most firms unable to meet bereavement claims performance levels

FCA: Most firms unable to meet bereavement claims performance levels

Call for improved bereavement handling times

Cameron Roberts
clock 22 November 2024 • 3 min read
ETF providers launch unlisted share classes to tackle slow MPS adoption

ETF providers launch unlisted share classes to tackle slow MPS adoption

Technological and cost barriers

Valeria Martinez
clock 22 November 2024 • 5 min read
Advisers expect regulation to limit time taken on giving advice

Advisers expect regulation to limit time taken on giving advice

Industry expects it will constrain their ability to meet demand

Isabel Baxter
clock 22 November 2024 • 2 min read