Eastcote Wealth Management acquired by 7IM

Solihull-based Eastcote Wealth Management (EWM) has been bought by industry giant 7IM for an undisclosed but substantial sum.

EWM is a well-established financial planning and independent advice firm. Its 12 financial planners act on around £430 million of assets for some 735 clients.

7IM manages over £24 billion of assets on behalf of more than 2,300 financial advisory firms and 7,000 private wealth clients across the UK. In January it in turn was taken over, with Ontario Teachers’ Pension Plan, a global investor with net assets of $247.5 billion, purchasing a majority stake.

7IM, which employs 600 across the UK, said EWM would, for the time being, continue to maintain its brand and independent investment proposition, so as to allow its advisers to focus their time on servicing and delivering the best outcomes for clients.

It will also retain its existing management team led by John Ruddick, David Fleet, Jonathan Hearn, and Robert Kenyon.

EWM founder, local business leader Trevor Law, will continue in his position as a consultant to the firm, which, for 25 years, has contributed a weekly article in the personal finance page of The Post, in many ways a unique timeline on how the sector has changed over the years.

Mr Ruddick, Eastcote Wealth Management managing director, said: “This marks an exciting milestone for both our team and our valued clients as we join the 7IM family – a firm rapidly expanding in both scope and reputation.

“Along with its scale and ambition, a key attraction of 7IM is its commitment to and its focus on building long-term partnerships with clients, both of which are at the heart of Eastcote’s philosophy and culture.

“We look forward to being part of this fantastic business and working together to deliver the best possible outcome for all our clients.”

Mr Law added: “I am flattered that 7IM have chosen EWM to spearhead their growth outside of London and that this is good news as a major company is investing in the Midlands.

“As the founder of the business and as I am stepping back after 40 years in the profession I am convinced that we have found the right company to entrust our clients assets and grow EWM.”

Dean Proctor, CEO of 7IM, said: “Trevor, John and the team have built an exceptional business, one which shares the same forward-thinking and client-centric culture as us.

“We have had a presence in London and Edinburgh since our earliest days, but as part of our commitment to helping clients meet their financial goals through personalised and comprehensive financial planning, we wanted to expand our footprint across key wealth centres in the UK. Having a base of operations in the Midlands felt like the next natural step, and Eastcote’s presence in the region will help us broaden our reach to a new audience.”

Outlining its overview, the group stated: “For financial advisers and planners, this involves us standing alongside them to support them with whatever they need, so they can focus more on what really matters: nurturing their relationships with clients to deliver on their financial plans.

“For our private wealth clients, it all starts with understanding the client, their families, and their goals and then creating a bespoke financial plan designed to help them achieve financial freedom. We use cutting-edge technology to help make things simple and clear, but what really sets us apart is our real, honest, human service. No automated helplines or chatbots. You always talk to a person.”