Inflows to the 7IM platform set another new record in the last quarter, with the business continuing to enjoy traction with advisers and their clients.
7IM saw total inflows of £624m in the first quarter of 2021, a new high and substantially above the previous £486m record flows added in Q4 of 2020, as new platform functionality makes 7IM even easier to do business with.
Gains throughout Q1 were largely driven by March Tax Year End inflows of £284m, a figure which exceeded the previous monthly record by more than £100m.
Over the past year, 7IM has continued to invest across its platform, launching a series of updates and enhancements in the latter half of 2020 to further improve the user experience and better support clients in a digital environment.
These include streamlining its application process with the adoption of e-sign and docu-sign capabilities, enhancements to investment instructions applying to transfers, any regular investments and cash, as well as improved family grouping reporting.
A range of different investment solutions also continue to attract investors. The latest platform inflows data from 7IM shows investment winners in the first quarter included a host of alternative assets, while all-in-one multi-asset portfolios were also popular.
Once again, pro-growth discretionary fund managers were also winners as advisers looked to resurgent global growth and sought ways to gain exposure for clients.
Verona Kenny(pictured), Managing Director of Intermediary at 7IM, said: “We have been delighted to see a number of record-breaking months for inflows to our platform over the past year. As a provider our focus is always on finding new and innovative ways to improve the quality of service we can deliver to our clients and over the past year that has meant investing in the efficiency and functionality of our platform so as to allow them to adapt quickly and efficiently to a more digital world.
“Delivering great service means being able to evolve with the times. As we, hopefully, start to leave the worst of the pandemic behind us, we are continually looking at ways to remain at the cutting edge of delivering the best user experience for our advisers.”
Matthew Yeates, Head of Alternatives and Quantitative Strategy, said: “Record flows in the first quarter show that the pent-up demand for risk assets is starting to be unleashed, with a big surge in inflows as more advisers and their clients enter from the sidelines.
“Against a backdrop of rising inflation and resurgent global growth, advisers are no longer content to leave clients in cash lest they miss out on potential returns.
“Nonetheless, investors were also more divided in their views in the last quarter, with alternatives such as infrastructure and gold among the top ten alongside fixed income and equity mandates.
“A genuinely diversified multi-asset portfolio has a clear role in today’s prevailing environment of low bond yields, negative debt piles, and returning inflation,” he said.