Seven Investment Management saw its platform assets jump by 24 per cent last year, as it commits millions of pounds each year to IT development.
According to its results for the year ending 31 December, the group saw profits nudge up 3 per cent to stand at £18.6m, while its assets under management grew 8 per cent to hit £10.9bn.
Tom Sheridan, 7IM chief executive, said the firm closed 2016 in a strong position after a period of rapid expansion, pointing out that client numbers grew by 7 per cent as it added 1,173 new accounts throughout the year.
Mr Sheridan pointed out that the firm continues to invest in technology, increasing its annual ongoing expenditure by £2.5m on platform and IT development.
Assets under management for the discretionary fund management service also continued to grow.
However, the group’s departure from running institutional money meant a loss of £340m assets.
Mr Sheridan added: “Our multi asset, global approach, blending both active and passive strategies, continues to help us manage the risk–reward trade off at a time when geopolitical tensions make a ‘risk off’ strategy, for us, currently more attractive.”
katherine.denham@ft.com
