7IM buys £1bn AUM London Monetary Planner



 

Canadian-owned funding supervisor and platform 7IM has snapped up £1bn AUM Monetary Planning agency Amicus Wealth, topic to regulatory approval.

London-based Amicus has greater than 35 monetary advisers who serve 3,000 purchasers.

The addition of Amicus Wealth to 7IM will create a bunch with a mixed AUM of roughly £22bn, using greater than 550 folks.

The acquisition is the 7IM’s first acquisition since being offered in September by majority proprietor funding belief Caledonia Investments to the Ontario Lecturers’ Pension Plan Board for £255m.

Dean Proctor, CEO of 7IM mentioned: “Since our earliest days, we’ve got all the time believed within the worth and advantages of monetary recommendation, so we’re delighted to accumulate Amicus Wealth, an advisory agency that provides a broad spectrum of Monetary Planning experience.

“This acquisition helps 7IM take the following step in its strategic development plans, which is centred round a mix of natural development and M&A.”

Amicus Wealth, headed by David Fry, will proceed to function as an unbiased firm, whereas 7IM will assist the agency with back-office capabilities.

Amicus will even profit from using 7IM’s middleman platform and vary of funds and fashions.

Mr Fry mentioned: “Since coming to life in 2014, Amicus Wealth has grown from power to power. And after a profitable decade of development, we felt the time was proper to hunt a brand new accomplice who might assist us proceed to assist and advance our imaginative and prescient of being an revolutionary and client-led advisory agency that breaks the mould of a typical monetary advisory agency.

“7IM felt like a pure match to assist take us ahead because of its trendy tradition and shared values, in addition to its extremely regarded and award-winning know-how and options.”

7IM was based in 2002 by seven “escapees” from the world of massive company finance who needed to “begin the type of organisation they’d like to speculate with themselves.”

The corporate has made a number of acquisitions lately together with Tcam Asset Administration in 2018 and in 2020 London-based Monetary Planning agency Companions Wealth Administration (PWM). PWM continues to function as an unbiased firm.

7IM now has greater than 550 employees in workplaces in London and Edinburgh managing greater than £22bn for purchasers, together with people and households, monetary advisers, corporates, charities and trustees.

Its proprietor, the Ontario Lecturers’ Pension Plan Board, is a worldwide investor with roughly £145bn in web property.




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