Seven Investment Management has added £2bn to its assets under management with the acquisition of London-based financial planning firm Partners Wealth Management.
The deal has created a group with £17bn under management, employing more than 400 people.
PWM, which was founded in 2004, is led by senior partner David Stoll and managing partner James Roberts. It will continue to operate as an independent company by retaining its brand and leadership structure but there will be some back office integration with 7IM.
Last week, 7IM announced a series of improvements to its platform to better user experience, including allowing e-signatures.
7IM chief executive Dean Proctor (pictured) said the additional scale and assets that PWM brings to 7IM will allow it make “further and significant” investment into its platform technology.
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Proctor added: “Since conducting a firm-wide strategic review last summer, our intention has been to accelerate the growth of the business, knowing that this would come both organically and inorganically.
“This acquisition helps both 7IM and PWM take their next steps in their respective strategic growth plans.”
PWM managing partners James Roberts said: “Over the past year we have had discussions with a number of potential partners, but were attracted to 7IM because of its award-winning technology, entrepreneurial culture, strong management team and shared values.
“We’re delighted to be working with Dean and his team to drive growth by offering clients an advice and wealth management proposition of unique completeness and quality.”
