Clime sells retail advice client book

Mike Taylor

Managing Editor and Publisher

19 November 2025

Clime Investment Management has sold its retail client book including client servicing rights to an unnamed licensee.

The company has announced to the Australian Securities Exchange that it has entered into a binding term sheet with an external financial planning practice operating under its own AFSL for the sale of the retail client book.

It said the key elements of the transaction include an agreed consideration of $1.65 million with $400,000 cash consideration to be received by Clime within 90 days of completion and $1.25 million redeemable not issued by Clime with an 8% interest paid monthly.

It said three Clime staff will transition to the external AFSL and will contribute towards the premises costs for the staff.

The announcement said settlement is expected to occur on 19 December.

Clime said the divestment of the client book is consistent with the company’s strategy to streamline operation and prioritise its wholesale business.

The Clime statement explained the failure to name the buyer of the business by stating the “the identity of the counterparty is not considered to be information that is expected to have a material effect on the price of the company’s securities and the description of the counterparty provided is sufficient to assess its standing and creditworthiness”.