7IM has announced that Ontario Teachers’ Pension Plan Board has completed its acquisition of a majority stake in the firm.
Founded in 2002, 7IM is a wealth and investment manager that manages approximately GBP23 billion of assets on behalf of more than 2,300 financial advisory firms and approximately 10,000 private wealth clients across the UK.
The firm writes that investment from Ontario Teachers’ will allow 7IM to accelerate its strategic growth plans, which will focus on a combination of organic growth and selective M&A.
Underpinning 7IM’s growth plans is an ongoing commitment to enhance its core capabilities and services for 7IM’s customers and clients. In particular, 7IM will continue to innovate and develop its award-winning proprietary platform technology, multi-asset investment management capabilities, and advisory credentials for UK financial advisers and private wealth clients.
As part of the acquisition, the firm writes that Ontario Teachers’ will continue to back 7IM’s leadership under Chief Executive Officer Dean Proctor.
Dean Proctor, CEO at 7IM, says: “We’re incredibly excited to be starting a new chapter in 7IM’s history. After two decades of growth, where we have grown from a challenger brand to an established name, now is the perfect time to start working with our new investment partner whose scale and capability can help support us in our ambitious next phase of growth.
“One of the key attractions of our partnership with Ontario Teachers’ is not only its deep support of the team and our strategy, but also its culture of partnership – something which is very much at the heart of our 7IM culture.
“While we have ambitious growth plans, we remain fully committed to our ongoing investment in innovation, technology and our people, so that we can continue support our vision of delivering an unrivalled experience for both advisers and clients.
“With the support of Ontario Teachers’, we look forward to fulfilling our strategic ambitions and further cementing our position as one of the leading vertically integrated wealth management businesses in the UK.”
