7IM takes AUM to £27bn with acquisition of ASHL’s Rockhold Asset Management

7IM said on 1 November it had agreed to acquire Rockhold Asset Management, taking its overall assets under management to c£27bn.

It said the strategic acquisition is set to complement 7IM’s existing investment management capabilities, further positioning the firm in delivering "innovative and diversified" investment solutions to its clients across the UK.

Established in 2002, 7IM is a client-centric, technology-driven wealth and investment manager.

Rockhold Asset Management was launched in 2022 by the ASHL Group, looking after c£2bn of assets today. It offers a managed portfolio service (MPS), multi-manager funds and a full bespoke discretionary management service to the clients of the advisory firms operating within the Sense and Lyncombe networks, which it will continue to serve.

A major shareholder in the ASHL Group is investment management and fund solutions business the Marlborough Group, which has a successful track record of working in strategic partnership with adviser and wealth management companies to help them achieve significant growth. Marlborough was a shareholder in Hubwise, Parmenion, Continuum, Beaufort Group and IBOSS – all of which have been acquired in recent years.

With a complementary range of services and solutions, the acquisition will enable 7IM to broaden its Funds and MPS offering, which is a core component of its growth strategy, and which will now have over £10bn under management.

Rockhold will continue operating under its current brand and leadership, whilst benefiting from 7IM’s significant investment management capabilities and infrastructure. Rockhold will remain as the primary model portfolio proposition for ASHL’s restricted advisers and also available to Independent Advisers in the Sense and Lyncombe networks as a suitable fit within their advice processes and risk assessment framework.

Dean Proctor (pictured), CEO of 7IM said: “We are thrilled to welcome the team at Rockhold Asset Management to the 7IM group. The acquisition is a natural fit for us, as it strengthens our commitment to offering clients the best possible investment options and services. It also marks an important milestone in our growth strategy, reinforcing our position as a trusted partner for investors, financial advisers, and advice firms seeking diversified, high-quality investment solutions.

“While strategic and selective acquisitions will remain a key part of our long-term strategy, organic growth continues to be a central pillar of 7IM’s plans moving forward, and we will continue to invest in and develop our existing capabilities for our clients to drive our growth.”

Andy Ferns, Managing Director, ASHL/Rockhold Asset Management, said: “Following our outstanding growth over the last few years, our Discretionary Fund Management business will now benefit from the partnership with 7IM, a leading investment business. ASHL advisers using Rockhold’s portfolios will now have unique access to 7IM’s unquestionable investment capability, award-winning platform and market-leading solutions.

“We have always prided ourselves on delivering superior solutions and services for our clients, and we believe that 7IM’s client-focused approach and depth of experience will allow us to take our offerings to the next level.”

The acquisition is subject to Financial Conduct Authority approval.