7IM to acquire Partners Wealth Management in latest push for scale

Allows access to HNW client revenue

London-based financial planner Partners Wealth Management (PWM) is set to become the latest acquisition of Seven Investment Management, which is set to see assets swell to £16bn in its latest push to build scale and a presence in the high-net-worth market.

The 100% share acquisition, which follows the purchase of TCAM in 2018, will see PWM continue to operate as an independent firm under the same brand and the leadership of its managing partners James Roberts and David Stoll. Some back-office functions will be integrated, however, while PWM will benefit from 7IM's "technological capabilities", the firms said in a statement. Speaking to Investment Week, 7IM CEO Dean Proctor, who joined from Barclays last year, explained the acquisition offered the firm a revenue footprint in the high-net-worth market in which PWM is a specialist, while a...