7IM is expanding its retirement proposition for financial advisers by partnering with retirement specialists Just to offer its Secure Lifetime Income (SLI) on the 7IM Platform.
SLI sits within the 7IM SIPP, accessed via 7IM’s award winning platform, and enables advisers to offer a guaranteed income producing asset alongside existing drawdown arrangements and other investment strategies for their clients.
The innovative solution from Just is designed to help advisers mitigate some of the key risks associated with retirement planning, such as longevity and sequencing risk, when withdrawing from a portfolio.
One of the key benefits of SLI is the flexibility it offers advisers and their clients. SLI payments can be used as income drawdown from the SIPP or reinvested back into the client’s SIPP investment portfolio or a combination of both.
The partnership with Just to launch SLI represents the latest development in 7IM’s retirement solution capabilities, which include its Retirement Income Service that allows advisers to tailor drawdown requirements to individual client needs.
Commenting on the announcement, Verona Kenny, Managing Director, 7IM Intermediary said: “We’re excited to be adding SLI to the 7IM SIPP, as creating and managing a reliable income stream for clients in retirement is an increasingly important aspect of advisers’ work, and we want to provide as much flexibility for both advisers and their clients. That’s why we have partnered with Just to offer their innovative SLI.
“SLI is a simple and efficient way for advisers to create a reliable stream of income for clients that supports existing drawdown plans and helps to mitigate some of the associated risks, all within the 7IM SIPP.
“Partnering with Just for this was an easy decision. Just have a great reputation for offering truly client-centric services and we’re delighted to be able to offer this innovative product through the 7IM Platform. The addition of SLI also complements our Retirement Income Service, which we will be further enhancing soon to create an unrivalled retirement proposition for advisers and their clients.”
Paul Turner, Managing Director, Retail at Just Group, said: “Secure Lifetime Income delivers 7IM a 21st Century guaranteed income for life solution. It enables advisers to manage their clients’ investment and longevity risk throughout retirement while enhancing income and inheritance tax-planning opportunities.
“The decision by 7IM to offer SLI on its platform demonstrates their astute understanding of the practical solutions advisers need in order to be able to balance the opportunities of pension ‘freedom and choice’ against their regulatory obligations to factor in their clients’ unique personal circumstances – taking into account income requirements, appetite for risk and capacity for loss.”
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Notes to Editors:
It all began in 2002, with seven of us in a basement establishing 7IM because we couldn’t find anywhere we wanted to invest our families’ money. Our assets under management now stand at over £21bn, and we have moved from ‘basement’ to ‘Bishopsgate’ in the City of London.
We manage money aiming to meet people’s medium to long term return expectations. Fundamentally, we believe in active asset allocation in both active and passive investments (where we were one of the first to offer actively managed passive portfolios). We build global portfolios based on that allocation and include alternative assets where appropriate to manage the risk reward trade off. Active currency management is also at the core of what we do.
7IM provides investment services to professional wealth managers, planners, advisers and private investors. These include: discretionary investment management, a range of multi-asset portfolios, an investment and open architecture trading platform and a fantastic app, 7IMagine, which brings client portfolios to life.
– Our Pathbuilder fund range, launched in 2020, offers clients a well-diversified range of passive funds that benefit from our robust Strategic Asset Allocation at a competitive price.
– Our AAP fund range (Asset Allocated Passive) is populated largely with passive structures to keep costs to a minimum. Asset allocation is actively managed to help exploit opportunities and reduce risk across the spectrum: 7IM AAP Adventurous, 7IM AAP Moderately Adventurous, 7IM AAP Balanced, 7IM AAP Moderately Cautious, 7IM Cautious and 7IM AAP Income.
– Our Multi-Manager fund range invests in a range of active and passive vehicles. Costs still matter, but if we think an actively managed fund can outperform a passive alternative we have the freedom to choose it. Asset allocation is actively managed. There are different funds for different profiles: 7IM Adventurous, 7IM Moderately Adventurous, 7IM Balanced and 7IM Moderately Cautious.
– We also have a selection of funds designed to meet specific needs, such as the 7IM Personal Injury Fund, the 7IM Real Return Fund or the SRI focussed 7IM Sustainable Balance Fund.
Our Model Portfolios
The 7IM Model Portfolios are a range of risk rated portfolios and are available within our discretionary investment services and standalone on the 7IM platform and other platforms. The Models use the same investment process and asset allocation as our funds.
Our range of Model Portfolios are available across the risk profiles: 7IM Adventurous Plus Model Portfolio, 7IM Adventurous Model Portfolio, 7IM Moderately Adventurous Model Portfolio, 7IM Balanced Model Portfolio, 7IM Moderately Cautious Model Portfolio, 7IM Cautious Model Portfolio and 7IM Income Model Portfolio.
In 2019, we launched the 7IM Passive Model Portfolios, a diversified range of passive multi asset model portfolios underpinned by our robust Strategic Asset Allocation (SAA) process. The Passive Model Portfolios differ from our traditional offering and are built purely using a streamlined version of 7IM’s robust (SAA).
In 2020, we launched the 7IM Responsible Choice Model Portfolios, combining our experience and expertise in both responsible investing and multi-asset investing to provide clients with a range of ESG focussed risk rated model portfolios.
The 7IM funds and Model Portfolios are available through the 7IM Discretionary and Platform as well as on other platforms.
Important information: The information contained in this document does not constitute investment advice and if you are in any doubt about the suitability of the investment or service, you should consult a professional financial adviser. The value of investments, and the income from them, can fall as well as rise and you may not get back the full amount invested. Seven Investment Management LLP is authorised and regulated by the Financial Conduct Authority, the Jersey Financial Services Commission and the Guernsey Financial Services Commission. Member of the London Stock Exchange. Registered office: 55 Bishopsgate, London EC2N 3AS. Registered in England and Wales No. OC378740.