Award winning financial planning firm, Partners Wealth Management (PWM) has been acquired by 71M
The new deal will see Partners Wealth Management and 7IM continue to operate as separate companies under their own leadership teams and branding.
Wealth manager PWM was founded in 2004 and has experienced rapid growth over the past few years with around £2bn AUM currently. 71M, which was established in 2002 and employs more than 350, staff accounts for the other £15bn.
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Under the terms of the deal, PWM will continue to operate as an independent company – distinct from 71M and operating with its own branding and leadership team. Managing partner James Roberts and Senior Partner David Stoll, will continue to head up the team. However, some back-office functions will be integrated and PWM will benefit from 71M’s superior technological capabilities.
For 71M, meanwhile, the deal represents an opportunity to continue the acceleration of its growth.
“Since conducting a firm-wide strategic review last summer, our intention has been to accelerate the growth of the business, knowing that this would come both organically and inorganically,” said Dean Proctor, CEO, 7IM. “This acquisition helps both 7IM and PWM take their next steps in their respective strategic growth plans.
They also aim to benefit from the ‘enviable reputation for quality and service’ they feel PWM have built up in the financial planning and advice market.
Proctor added: “In particular, the additional scale and assets that PWM can bring on board to the 7IM platform will allow us to make further and significant investment into our platform technology. This in turn will further enhance the service and support we are able to offer the intermediary market, which has always been and continues to be 7IM’s main focus.
PWM, meanwhile, say they felt the time was right to seek a new partner.
“Following a successful 16 years, we felt the time was right to seek a partner who could help us continue advancing our vision to build the best client and adviser proposition in the UK,” said managing partner James Roberts. “Over the past year we have had discussions with a number of potential partners but were attracted to 7IM because of its award winning technology, entrepreneurial culture, strong management team and shared values.”
The new deal will see both continue to operate as separate companies under their own leadership teams and branding.
Award winning financial planning firm, Partners Wealth Management (PWM) has been acquired by 71M in a deal which will great group with a substantial £15 million in assets under management.
PWM was founded in 2004 and has experienced rapid growth over the past few years with around £2bn AUM currently. 71M, which was established in 2002 and employs more than 350, staff accounts for the other £15bn.
Under the terms of the deal, PWM will continue to operate as an independent company – distinct from 71M and operating with its own branding and leadership team. Managing partner James Roberts and Senior Partner David Stoll, will continue to head up the team. However, some back-office functions will be integrated and PWM will benefit from 71M’s superior technological capabilities.
For 71M, meanwhile, the deal represents an opportunity to continue the acceleration of its growth.
“Since conducting a firm-wide strategic review last summer, our intention has been to accelerate the growth of the business, knowing that this would come both organically and inorganically,” said Dean Proctor, CEO, 7IM. “This acquisition helps both 7IM and PWM take their next steps in their respective strategic growth plans.
They also aim to benefit from the ‘enviable reputation for quality and service’ they feel PWM have built up in the financial planning and advice market.
Proctor added: “In particular, the additional scale and assets that PWM can bring on board to the 7IM platform will allow us to make further and significant investment into our platform technology. This in turn will further enhance the service and support we are able to offer the intermediary market, which has always been and continues to be 7IM’s main focus.
PWM, meanwhile, say they felt the time was right to seek a new partner.
“Following a successful 16 years, we felt the time was right to seek a partner who could help us continue advancing our vision to build the best client and adviser proposition in the UK,” said managing partner James Roberts. “Over the past year we have had discussions with a number of potential partners but were attracted to 7IM because of its award winning technology, entrepreneurial culture, strong management team and shared values.”
Tom Cropper has been writing for us since 2015. Tom is a financial journalist and his work has appeared in titles such as the Guardian, Euromoney and many others.
