7IM buys financial planning firm Amicus Wealth
7IM has acquired financial planning and advice business Amicus Wealth, for an undisclosed sum
Transaction Overview
Deal Type: Acquisition
Industry/Sector: Wealth Management
Size: Not disclosed
Year: 2023
Mandate: Exclusive Sell-side Adviser
Lead Partner:
Daniel Baade
Mobile: +44 7471 077086
Email: daniel.baade@dyerbaade.com
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7IM has acquired financial planning and advice business Amicus Wealth, for an undisclosed sum adding more than 35 financial advisers who serve around £1bn of assets for 3,000 clients.
The deal comes three months after the Ontario Teachers’ Pension Plan Board announced it would take a majority stake in 7IM from Caledonia Investments to "continue and boost its high-growth story".
The addition of Amicus Wealth creates a group with a combined AUM of approximately £22bn, employing over 550 people.
Dean Proctor, CEO of 7IM said: “Since our earliest days, we have always believed in the value and benefits of financial advice, so we are delighted to acquire Amicus Wealth, a leading advisory firm that offers a broad spectrum of financial planning expertise. This acquisition helps 7IM take the next step in its strategic growth plans, which is centred around a combination of organic growth and M&A. In particular, it will help further cement 7IM’s position as one of the leading vertically integrated wealth managers in the UK, underpinned by our award-winning platform for advisers and leading multi-asset investment capabilities.”
Amicus Wealth, headed by David Fry, will continue to operate as an independent company, while 7IM will support the firm with back-office capabilities.
It will also benefit from the use of 7IM’s intermediary platform and range of funds and models.
David Fry, Managing Director at Amicus Wealth, added: “Since coming to life in 2014, Amicus Wealth has grown from strength to strength. And after a successful decade of growth, we felt the time was right to seek a new partner who could help us continue to support and advance our vision of being an innovative and client-led advisory firm that breaks the mould of a typical financial advisory firm. 7IM felt like a natural fit to help take us forward due to its modern culture and shared values, as well as its highly regarded and award-winning technology and solutions. We’re delighted to be partnering with Dean and his team and look forward to working with 7IM to drive growth at Amicus Wealth by delivering the best possible outcomes for our clients.”
Daniel Baade, CEO Dyer Baade and lead adviser to Amicus said: “It has been a pleasure to work with the shareholders and senior management team at Amicus. The business has grown rapidly over the last few years. With 7IM they have found the perfect partner to accelerate that growth even further.”
David Fry commented: “Daniel and the team were flawless from start to finish.”
About Dyer Baade & Company
Dyer Baade & Company is an independent corporate finance boutique. We are M&A specialists in financial services and other complex sectors advising entrepreneurs & business owners, private equity & financial investors as well as trade buyers & strategic investors. For more information go to dyerbaade.com.