Seven Investment Management has had a decade of continuous growth in assets under management as it reached £13.3bn last year.
The total for the year ended 31 December 2018 was up 7 per cent compared to the previous year.
Consolidated profit before tax also increased by 17 per cent to £10.5m in the period, while AUM on the company’s platform rose by 19 per cent to £9.1bn. Group revenue increased by 11 per cent.
7IM cited the acquisition of Tcam Asset Management, an Edinburgh and London based asset manager with £1.1bn AUM as a “major milestone” in 2018.
In December, the majority of Tcam’s high net worth clients and its assets migrated to 7IM.
Last year also saw 7IM expand into Jersey to provide services to clients and trust companies on the island.
7IM’s recently appointed chief executive Dean Proctor says: “Last year was significant for 7IM with the acquisition and integration of Tcam as well as continued investment in technology, products and people. 2018 also saw the business extends its track record of year-on-year growth to over a decade. We have recently concluded a strategic review which we believe will form the basis of continued growth at 7IM, underpinned by service, innovation and performance.
“I am delighted to have joined 7IM in April this year. After approaching four months with the business, meeting many customers, clients and partners, I am excited by the opportunities in front of us and am confident that 7IM can deliver for all its stakeholders.”
Throughout the year, 7IM “continued to broaden” its product range and in May 2018 entered the pensions market as it launched its own “cost effective” Sipp. This has been integrated into the 7IM platform and had £126m AUM at the end of December 2018.
At the start of 2018, 7IM launched a range of five “active” models, which was followed by the launch of a range of six “select model portfolios”, leveraging the high conviction strategy historically favoured by Tcam, in November 2018.
Source: 7IM’s decade of continuous growth