AuM grew from £10.1bn in 2015 to £10.9bn by December 2016, an 8% increase year-on-year, and profits before tax were up 3% at £18.6m.
While not as sharp a rise as in 2015 where AuM soared 30%, the growth reported on Thursday marked a decade of increasing assets at 7IM from less than £2bn in 2006 to nearly £11bn.
The firm also posted a 24% increase in the AuM on its platform but lost £340m of assets as a result of its decision to stop running institutional money.
Client numbers rose in 2016, the results show, with a 7% boost in numbers thanks to an additional 1,173 accounts that were opened during the year.
CEO Tom Sheridan said he was “excited” about the improvements planned for 2017 after the launch of a new cashflow modelling tool last year and added the firm had increased spending on platform and IT development by £2.5m.
He added 7IM’s largest shareholder Caledonia, who bought out Allied Zurich Holdings and Aegon UK’s shares in 2015, continued to be a “huge supporter” of the firm.
