7IM reported an 18% increase in assets under management (AUM) during the second quarter, recording the strongest growth among advised platforms.

The company, which oversees some £24.8bn of assets for thousands of financial advisory firms and private wealth clients, said AUM rose 36.8% year on year to £23.83bn, following record net sales in Q1 and taking the business into the top five advised platforms.

Gross sales increased 15.67% year on year in Q2, while net sales rose 6.96%, placing 7IM among the top five platforms for net sales over the period.

The growth comes as 7IM continues a multi-year, multimillion-pound investment in its proprietary platform and supporting technology.

According to the firm, automation of transfers has reduced processing times by up to a third, while live transfer tracking gives advisers real-time visibility. Its revamped Client Hub has also introduced electronic transfer requests for ISAs, GIAs and SIPPs, digital SIPP benefit signatures and interactive portfolio reporting.

Russell Lancaster, managing director, platform and intermediary partnerships at 7IM, said: "Our Q2 performance reflects both the sustained investment we've made in our technology programme and the growing trust advisers are placing in our platform.

"As more firms choose to do business with us, it's a strong endorsement of our commitment to delivering exceptional service and solutions that make things faster and more efficient, enabling advisers to spend less time on process and more time with clients."

He added: "We have a significant pipeline of enhancements planned for the rest of the year as we continue to evolve the platform experience. Our soon-to-be-launched client portal and app will be central to this, bringing the adviser and client experience together more closely than ever before."

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