‘Exciting’ time as wealth firm EWM taken over by 71M

SOLIHULL-BASED Eastcote Wealth Management (EWM) has been bought by industry giant

7IM for an undisclosed but substantial sum.

EWM is a well-established financial planning and independent advice firm. Its 12 financial planners act on around £430 million of assets for some 735 clients.

7IM manages more than £24 billion of assets on behalf of more than 2,300 financial advisory firms and 7,000 private wealth clients across the UK. In January it in turn was taken over, with Ontario Teachers’ Pension Plan, a global investor with net assets of $247.5 billion, purchasing a majority stake.

7IM, which employs 600 across the UK, said EWM would, for the time being, continue to maintain its brand and independent investment proposition, so as to allow its advisers to focus their time on servicing and delivering the best outcomes for clients.

It will also retain its existing management team led by John Ruddick, David Fleet, Jonathan Hearn, and Robert Kenyon.

EWM founder, local business leader Trevor Law, will continue in his position as a consultant to the firm, which, for 25 years, has contributed a weekly article in the personal finance page of The Birmingham Post.

Mr Ruddick, Eastcote Wealth Management managing director, said: “This marks an exciting milestone for both our team and our valued clients as we join the 7IM family – a firm rapidly expanding in both scope and reputation. Along with its scale and ambition, a key attraction of 7IM is its commitment to and its focus on building long-term partnerships with clients, both of which are at the heart of Eastcote’s philosophy and culture.

“We look forward to being part of this fantastic business and working together to deliver the best possible outcome for all our clients.”

Mr Law added: “As the founder of the business and as I am stepping back after 40 years in the profession I am convinced that we have found the right company to entrust our clients assets and grow EWM.”

Dean Proctor, CEO of 7IM, said: “Trevor, John and the team have built an exceptional business, one which shares the same forwardthinking and client-centric culture as us. Having a base of operations in the Midlands felt like the next natural step, and Eastcote’s presence in the region will help us broaden our reach to a new audience.”