7IM snaps up City-based advice firm bringing AUM to £22bn

Following 7IM’s £255m sale

Wealth manager 7IM has acquired advice firm Amicus Wealth as it continues its growth plans.

Based in the City of London and headed up by managing director David Fry, Amicus Wealth is a financial planning and advice business with more than 35 financial advisers who serve £1bn of assets for 3,000 clients. The purchase of Amicus Wealth brings 7IM's assets under management to approximately £22bn and brings the number of staff to more than 550.   As part of the deal, Amicus Wealth will continue to operate independently from 7IM. 7IM will support Amicus with back-office capabilities and Amicus will also be able to use 7IM's intermediary platform and range of funds and models. V...