7IM and Brooks Macdonald today announce that they have partnered to offer BM’s Passive and Active Managed Portfolio Service (MPS) ranges through the 7IM Retirement Income Solution (RIS) on its platform.
The Brooks Macdonald Active and Passive Managed Portfolio Services both have actively managed asset allocation. The Active Range is constructed using actively managed funds, while the Passive Range is constructed using passive, index-tracking funds. The partnership sees 7IM offering the cautious, moderately cautious, and balanced risk profiles across both ranges.
RIS is 7IM’s bespoke solution for financial advisers, designed to give clients greater confidence in their retirement plans by controlling income and mitigating the pitfalls associated with drawdown.
The addition of the two Brooks Macdonald MPS ranges follows planner demand and provides planners and their clients with greater investment choice when implementing their retirement plans through the 7IM RIS. Planners can now access solutions from 7IM, RBC Brewin Dolphin, Omnis Investments (part of the Openwork Partnership), and Brooks Macdonald.
Russell Lancaster, Managing Director, Platform & Intermediary Partnerships at 7IM, says: “Advisers tell us that they want a consistent process for providing income without having to compromise their investment philosophy – a framework for providing income, not a product.
“We’ve heard them loud and clear, so we are incredibly excited to add Brooks Macdonald to RIS, to offer even more choice for planners and their clients. RIS is underpinned by 7IM’s robust investment methodology which uses sophisticated modelling techniques, enabling them to adapt to changing personal circumstances and track the sustainability of their clients’ income.
“The FCA’s thematic review has put retirement income advice firmly into the spotlight, and we believe the 7IM RIS provides advisers with a complete solution. Our platform investment programme means that there will be plenty more to come here – in accumulation and decumulation – so watch this space.”
Greg Mullins, Head of Adviser Solutions at Brooks Macdonald, said:
“I am delighted that Brooks Macdonald will be able to offer our active and passive MPS solutions to advisers through 7IM’s platform. This partnership aligns well with our strategy to reignite growth by bringing our proven experience and investment expertise to a wider audience of advisers and their client’s retirement needs.
“Retirement is increasingly providing individuals with more freedom to create an income tailored to their lifestyle. However, helping clients achieve effective decumulation is complex, so we are pleased that the addition of our MPS range will enable advisers to offer an even broader range of solutions to their clients.”
Alongside RIS, 7IM offers fully flexible drawdown options, including flexi-access and tailored (drip-feed) drawdown, as well as a guaranteed income option through the Secure Lifetime Income (SLI) in partnership with Just.
