7IM has selected Bloomberg AIM, an order management system, to boost the firm’s goal of an efficient target operating model to support assets under management (AUM) growth, according to the company.
71M is a young investment management platform that works with professional wealth managers, planners, advisers and private investors. The company has grown to over £21 billion in AUM
71M explains that by incorporating Bloomberg AIM it will benefit from new tools that reduce manual processes and helps the platform to scale further. 7IM states that it now has greater investment oversight including custom alerts and an end-to-end audit trail. Bloomberg AIM also improvs upon the reconciliation process for cash and corporate actions.
As well, 7IM has also adopted Bloomberg PORT to view and monitor intraday holdings.
Darren Fancourt, Head of Operational Change and Trading at 7IM described Bloomberg as a forward-thinking and digitally focused firm:
“The use of Bloomberg AIM has allowed us to significantly lower risk by leveraging market leading technology, ensuring operational efficiency across the value chain in anticipation of our next growth period.”
The adoption of AIM will deliver additional value to clients, said Matthew Yeates, Deputy Chief Investment Officer at 7IM, added:
“Delivering to clients a seamless experience with our offerings remains the North Star for Bloomberg Buy-Side solutions and we’re proud to be providing this for the 7IM team,” said Ian Peckett, Global Head of Buy-Side Product at Bloomberg. “We look forward to helping 7IM reach their operational and AUM goals by providing them with the tools that can address both current and future needs.”
Bloomberg AIM is currently being used by nearly 15,000 professionals at over 900 client firms globally to manage more than $17 trillion in assets.
