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

Transact reports £2.4bn gross inflows as digitisation continues

Transact reports £2.4bn gross inflows as digitisation continues

Q1 trading update for parent company IntegraFin

Jenna Brown
clock 14 January 2025 • 1 min read
M&G sues Royal London for £27m over client access to 'inappropriately risky investments'- reports

M&G sues Royal London for £27m over client access to 'inappropriately risky investments'- reports

Over Ascentric purchase

Linus Uhlig
clock 23 December 2024 • 2 min read
How adviser platforms bridge Consumer Duty and vulnerable client care

How adviser platforms bridge Consumer Duty and vulnerable client care

'For vulnerable clients, the concept of value for money takes on heightened importance'

Darren Winfield
clock 16 December 2024 • 5 min read