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Portal picks 7IM for service deal

Money Portal has chosen Seven Investment Management as its recommended provider for discretionary management.

Advisers are still free to choose other third-party discretionary managers but the 7IM service integrates with the Your Money Portal investment hub and data aggregation services.

Money Portal head of distribution strategy Alan Easter says: “Discretionary services are usually provided at the premium end of the market with high costs that, in some cases, are hard to justify.

“We have worked with 7IM and have been impressed with their approach to investing and absolute return styles as well as their understanding of the importance of net returns.”

7IM director Justin Urquhart Stewart says: “The service will provide Money Portal advisers with access to institutional-calibre investment management and a tailored facility to enable them to steal some of the business away from private banks that have not exactly covered themselves in glory recently with their charging structures.”

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