Billed as a service for “advisers who want the services of a discretionary fund manager (DFM), but don’t necessarily want the DFM to meet with the end client,” the service launched earlier this month.
Head of business development at the firm, Robert Poulten, said there had been an increasing number of advisers requesting this type of interaction with DFMs.
“At the same time, they want all the goodies you get with a DFM service, including help with the client portfolio review, as well as the much higher contact and investment support you would expect from business to business due diligence,” he said.
“This new service allows advisers to do just that: drawing on 7IM’s experience, expertise and resources to tailor bespoke investment proposals, and with support on tax allowance optimisation, and ongoing due diligence.
“And it’s a few basis points cheaper too,” he added.
Model portfolios
In addition to the new managed investment option, 7IM said its discretionary management service, celebrating its fifth anniversary this year, had been “significantly enhanced” by providing investors with a choice between unitised and segregated portfolios.
“Over the years, you have always been able to do more in a unitised structure than a segregated structure,” he said.
But with demand for model portfolio services rising, Poulten said 7IM wanted to “close the gap between what you can do in a fund and model portfolio” like being able to manage currency and use alternatives.
The services’ newly improved manager selection feature allows clients to select “other complementary, high quality fund managers, fully researched by 7IM, and blended into the bespoke client portfolios, but with unified client reporting.”
