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Conference 2012: 7IM to offer margin lending against client portfolios
by Iain Martin on Jan 16, 2012 at 15:14
Seven Investment Management (7IM) is set to allow margin lending against portfolios on its wrap in a bid to help advisers compete against private banks.
The move will allow clients to borrow money from BNY Mellon against portfolios on its wrap from April this year.
Sheridan said: ‘Margin lending will enable you to compete with the private banks because they take away lending capabilities if you move assets away from them.’
‘It is a fantastic financial planning tool. If you have a client with a £1 million portfolio and he wants to give money to his kids, he can’t do that without incurring capital gains
tax liabilities but he can borrow £200,000 [through margin lending] and put it into a trust for them,’ said Crozier.
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