Seven Investment Management has expanded its offering for financial advisers with the launch of a managed investment service while unveiling augmentations to selected proposition.
Called 7IM Managed Investment Service, the new proposition caters for advisers who want the services of a discretionary fund manager but does not want the DFM to meet with the end client, according to the fund house.
Robert Poulten, head of business development at 7IM, said: “Many advisers tell us they want to access 7IM's strategies but with full control of their client relationships, while maintaining ongoing responsibility for suitability.
“This new service allows advisers to do just that: drawing on 7IM's experience, expertise and resources to tailor bespoke investment proposals, and with support on tax allowance optimisation, and ongoing due diligence.”
In addition, the asset manager’s pre-existing discretionary management service now features the choice of unitised or segregated portfolios. Developments have also been made to its manager selection service, 7IM said.
Mr Poulten said: “All advice firms have different proposition and service models. These new discretionary service enhancements give the widest choice of DFM configuration to suit an advisers business and their clients.
“Whether the adviser wants us to meet their clients or not, provide administration support or not, wants segregated or unitised portfolios, onshore or offshore investment solutions, onshore or offshore custody, and a platform/ custodian of their choice – 7IM has the DFM solution that fits with their requirements.”
Adviser view
Anthony Villis, managing partner at London-based First Wealth, said: “I like the sound of the managed investment service. We used to work with DFMs when we first set up the business but we quickly realised that it did not work for us. We operate our own in-house investment strategy now. I think not having a DFM meet with the end client is cheaper from a cost perspective because many might charge up to 100 basis points for that privilege.”
