7IM overhauls wraps to allows advisers to run model portfolios

Seven Investment Management (7IM) has overhauled the trading system at the core of its wrap. 

7IM has designed and built a new trading and portfolio management system with developer Financial Software which will provide a boost for discretionary advisers. The new 7IM system will allow advisers to run model portfolios and make bulks switches through the wrap. 

Replacing the trading engine of a wrap was the equivalent of open heart surgery, according to Graham Stott, IT director of 7IM. ‘We replaced all our core portfolio and trading systems with one that has been designed and built by us with Financial Software,’ said Stott. 

Stott added that the new system would make it easier and more efficient for advisers to make trades and manage portfolios through the wrap. 7IM places its own trades through the wrap and needed a more robust system, said Stott.  

‘There is an new breed of advisers who are getting discretionary licences and because we are already doing discretionary management it seems obvious to open those tools to them,’ said Stott, adding the upgrade would also make it easier for advisory firms to manage clients investments.