7IM owners consider sale of business

Alice Rigby
clock

The partners of Seven Investment Management (7IM) are considering selling the business, according to reports.

The owners of the wealth manager have asked investment bank advisory firm Evercore to look into a sale of the business, according to the FT. Analysts estimate the business, which manages assets worth £7bn, could sell for as much as £60m. It is currently owned privately by its partners, alongside insurance companies Zurich and Aegon. A sale would follow a number of takeovers and mergers that have swept through the wealth management industry since the Retail Distribution Review. Recent deals which have hit the headlines include last year's merger of Tilney and Bestinvest and Towry...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Schroders UK Platform Awards 2024: Full list of winners revealed!

Schroders UK Platform Awards 2024: Full list of winners revealed!

See who took home a trophy at last night’s ceremony in London

Professional Adviser
clock 25 September 2024 • 1 min read
Fidelity and Abrdn among firms joining new investment platform trade body

Fidelity and Abrdn among firms joining new investment platform trade body

Platforms Association launches amid growing regulatory scrutiny

Valeria Martinez
clock 23 September 2024 • 2 min read
Half of advisers say platform cash interest rates help to bag new clients

Half of advisers say platform cash interest rates help to bag new clients

Consumer Duty has led platforms to improve fee communication

Jenna Brown
clock 12 September 2024 • 1 min read