7IM upgrades portfolio management for advisers

7IM upgrades portfolio management for advisers
Verona Kenny, managing director of 7IM

7IM has made a series of changes to its platform in an effort to “streamline” the process of portfolio management for advisers on behalf of their clients.

The advised platform, which manages around £19bn in assets, has added a new screen for managing model portfolios which allows advisers to see how much is currently invested and when they started investing.

The dedicated screen can then link and unlink client portfolios to specific models.

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It has also introduced audit reports to track which clients have invested in a model portfolio, in order to speed up access for advisers to historical client data.

And on data integration, 7IM’s back office allows for a more detailed analysis of a client’s model use.

“These, and other updates we have made, come from listening to what advisers need,” said Verona Kenny, managing director of 7IM.

“We are always looking for ways to not just ease the administration burden on advisers. [...] These updates to our platform will make it easier for advisers to manage their client’s portfolios.”

Recently, the platform provider upgraded client information for the 7IM Sipp and improved its Mifid toolkit to help advisers with their 10 per cent drop reporting and costs and charges requirements.

The 7IM funds and model portfolios are available through 7IM’s platform, as well as through others.

“This continual feedback is what drives any enhancements we make,” said Kenny. “Overseeing our own technology makes us incredibly nimble at being able to prioritise and make changes quickly that can make our service to advisers as helpful and straightforward as possible.”

Earlier this year, Kenny told FTAdviser providers need to “get better” at allowing advisers and clients access their own data more freely.

She pointed out it was not just a platforms issue, dubbing the lack of access an issue “all providers” need to address. 

“Most platforms have had some form of, let’s call it, ‘data download’. But what’s moving on is the way we can do that with APIs [application programme interfaces] which quite frankly wasn’t around ten years ago. So technology is making it easier for us to do this," she explained.

In an effort to make it easier for advisers to connect new and upcoming softwares with its platform, 7IM partnered with Finio Hub back in December, growing the list of 34 different systems it was then connected to