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Bigscadeyy
Posted: 08 June 2018 07:46:02(UTC)
#1

Joined: 15/11/2017(UTC)
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There are lots of platform providers and a few get consistently good reviews (AJ Bell, HL, Iweb). My IFA is suggesting using 7 IM. I've visited their site and their ethos looks great and their costs are very competitive - comparable with Iweb.

I can't find any reviews about them online, so I wanted to check if anyone has any experience or views about them and anything I should be aware of?

TIA
Redundant (Old Timer?)
Posted: 08 June 2018 08:33:04(UTC)
#2

Joined: 07/01/2010(UTC)
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I would ask my IFA what his connection to 7Investment Management Group was? He may have an agreement to refer clients to that platform.

(And yes I know an IFA can not take commission for recommending funds...but does that also apply to platforms?)
1 user thanked Redundant (Old Timer?) for this post.
Bigscadeyy on 22/06/2018(UTC)
AJW
Posted: 08 June 2018 11:28:29(UTC)
#3

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I've worked at an IFA which had clients across many platforms, 7IM was one used by quite a few of them. Sorry I don't know much more than that, just to emphasise that it is a well used platform with the usual capabilities.

Would ask the IFA why 7IM is their preferred platform.
1 user thanked AJW for this post.
Bigscadeyy on 22/06/2018(UTC)
Captain Slugwash
Posted: 08 June 2018 13:40:34(UTC)
#4

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7IM was founded (with others) by Justin Urguhart Stewart (you will know him from the telly).

Pretty sure it belongs to an insurance or investment company now though.


I thought it only dealt in its own funds though?
1 user thanked Captain Slugwash for this post.
Bigscadeyy on 22/06/2018(UTC)
Money Spider
Posted: 08 June 2018 16:28:52(UTC)
#5

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I believe that 7IM work mainly through IFA's, as opposed to going direct to retail investors. I had one experience of them with a structured product via an IFA. The IFA concerned is very good and I have no complaint with them. However, when the investment product matured I had problems with 7IM when cashing it in (poor customer service, poor internal hand-over, poor process).

I did raise a formal complaint which found in my favour (which made me feel better). However, I would not use them again. I much prefer an effective web-enabled, self-service system. Also, what range of investment products do they offer?
1 user thanked Money Spider for this post.
Bigscadeyy on 22/06/2018(UTC)
paul armstrong
Posted: 22 June 2018 07:47:20(UTC)
#6

Joined: 14/03/2010(UTC)
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Monevator and The Telegraph publish comparison tables. I would not use a fund provider owing to likely restrictions on investment choice.
1 user thanked paul armstrong for this post.
Bigscadeyy on 22/06/2018(UTC)
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