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Intelliflo completes MBO from Millfield

Millfield has agreed a management buyout of Intelliflo for £250,000 following the merger with Inter-Alliance which previously owned the technology company.

Millfield says the MBO, led by Intelliflo chief executive Nick Eatock, will save it £375,000 a year.

Millfield Group and Inter-Alliance merged in October to form one of the biggest UK IFAs with around 1,800 advisers.

Intelliflo was absorbed into Inter-Alliance in 1997. Its Intelligent Office package, which provides a range of functions to help with client management, was launched in September 2003.

Millfield chief executive Paul Tebbutt says: “The MBO is in line with our goal of focusing on our core strategy. Millfield retains the intellectual property of Atlas for our own back-office software development. Nick and his team are now free to develop new products and service their existing and potential clients.”

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