7IM is reportedly set to be sold later this year by its owners Caledonia Investments, which bought the platform back in 2015.
The business is expected to seek a valuation of about £400mn upon a sale in the autumn, according to Sky News.
Earlier this year, Sky News reported a bid by Brooks Macdonald for the platform. The latest report suggested Brooks Macdonald will remain keen in the forthcoming auction.
It also reported that investment bank Evercore Partners has been retained to oversee the sale process.
Caledonia bought 7IM around seven years ago for £100mn.
In its latest results, the platform posted an 83 per cent uptick in profits before tax last year, with recent adviser and wealth manager acquisitions playing a key role in the firm's performance.
Profits hit £9.5mn in 2021, compared to £5.2mn a year earlier.
Of the investment platform's £92mn revenue, £20mn came from London IFA Partners Wealth Management, which 7IM bought in October 2020 alongside Find a Wealth Manager.
Find a Wealth Manager made up a smaller £982,000 of the firm's overall revenue last year.
7IM declined to comment.
ruby.hinchliffe@ft.com
