Advisers question platforms' exit strategies after sales talks

The potential sales of Transact and Seven Investment Management (7IM), as well as increased scrutiny from the regulator, have prompted advisers to start probing platforms on their exit strategies.

In February, 7IM announced it was considering selling the firm, which is estimated to be worth as much as £60m, and has asked investment bank advisory firm Evercore to look at the business. Transact also said it was up for sale last year, only to later back down after bidders failed to match the £250m expected price. It then announced it was considering a float instead. Speculation over the future ownership of these platforms has prompted advisers to question other providers on their exit strategies, in some cases for the first time. Mike Barrett (pictured), investment platform exp...