7IM combines private client arm with Amicus Wealth

7IM has integrated its backstage lawsuit part with Amicus Wealth, resulting successful the caller entity Amicus Wealth Management, reported FT Adviser.

The accrued standard and broader capabilities are intended to assistance it prosecute further enlargement successful the UK wealthiness absorption sector, the quality work added.

The merger comes aft 7IM acquired UK-based Amicus Wealth successful December 2023.

By the clip the woody was announced, Amicus Wealth provides fiscal readying and advisory services, with a squad exceeding 35 advisers and managing astir £1bn ($1.3bn) successful assets for astir 3,000 clients.

Following the summation of Amicus Wealth, the group’s assets nether absorption basal astatine astir £22bn, employing much than 550 staff, the institution said successful 2023.

Ben Covey and David Fry person been appointed arsenic managing directors of Amicus Wealth Management, which volition beryllium headquartered successful London.

The caller concern volition spot a squad of 100 professionals overseeing £3bn successful assets for astir 4,000 clients crossed the UK, noted the report.

Covey said: “We are incredibly excited astir the opportunities this caller section creates for our concern but, astir importantly, for our clients.

“The merger creates a stronger, much resilient steadfast with greater extent of expertise – and that means an adjacent amended acquisition for our clients.

“We are gathering a concern with the standard to put and turn portion staying existent to our client-first doctrine and supporting radical astatine each signifier of their fiscal journey.”

7IM, established successful 2002, manages adjacent to £21bn successful assets connected behalf of implicit 2,300 fiscal advisory firms and 7,000 backstage wealthiness clients nationwide arsenic of 2023.

7IM CEO Dean Proctor said: “The motorboat of Amicus Wealth Management is simply a important milestone for 7IM and a almighty connection of our ambition successful the UK wealthiness market.

“By bringing unneurotic our backstage lawsuit concern and Amicus Wealth, we person created a steadfast with the scale, endowment and capableness to present outstanding semipermanent fiscal plans and outcomes for clients.

“This is not conscionable a operation of businesses, but the instauration of a modern wealthiness absorption steadfast built for semipermanent growth, innovation and excellence successful lawsuit service.”

"7IM combines backstage lawsuit limb with Amicus Wealth " was primitively created and published by Private Banker International, a GlobalData owned brand.

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