7IM CEO Proctor: Further acquisitions unlikely despite current opportunities

2020 has been 'difficult for all firms'

The current market environment has presented opportunities for wealth management acquisitions, according to Seven Investment Management's Dean Proctor, but the CEO does not see the firm as a "consolidator" and believes further M&A activity in the immediate future is unlikely.

Last week 7IM completed the acquisition of London-based financial planner Partners Wealth Management (PWM), which saw the group grow to £17bn in assets under management and over 400 in staff. 7IM completes PWM acquisition as assets swell to £17bn A "key component of the deal", according to Proctor, was the greater efficiencies of scale it offers 7IM, which "will allow us to make further and significant investment into our platform technology." The acquisition forms part of 7IM's broader strategy to partly drive asset growth inorganically through acquisitions, having purchased TCAM ...