In a recent interview with FT Adviser, Chris Justham, the managing director of intermediary solutions for Seven Investment Management (7IM), conveyed his belief that financial planning is significantly undervalued in society. Justham shared his profound satisfaction in collaborating with financial planners and witnessing the positive impact that planning has on the lives of Britons. Despite his fervor for the industry, he emphasized the general public’s lack of understanding and appreciation for financial advice.
According to Justham, the value of financial planning extends beyond monetary security to encompass safety and emotional well-being. He underscored that the contributions of financial planners are extensively undervalued, given the wide-ranging benefits they offer. Justham derives fulfillment from knowing that his work, alongside the efforts of financial planners, has the potential to significantly enhance the lives of individuals.
Furthermore, Justham highlighted 7IM’s steadfast commitment to investing in the platform and technology that underpin the company’s investment services, particularly in collaboration with financial planners. In recent years, 7IM has made substantial multi-million pound investments in technological enhancements aimed at aiding advisers and their clients. Notably, these advancements include the incorporation of artificial intelligence (AI) to streamline processes and administration.
A notable progression was 7IM’s partnership with fintech company Aveni.ai, utilizing its generative AI and natural language processing-based technology platform to enhance productivity for financial advisers and wealth managers. This collaboration also aimed to bolster the company’s risk assurance capabilities, marking a strategic move towards adopting cutting-edge technology to improve service delivery.
The pursuit of technological innovation was further evidenced by the acquisition deal between 7IM and Ontario Teachers’ Pension Plan, involving the sale of the majority stake previously held by Caledonia Investments. Ontario Teachers’ Pension Plan made a significant investment of approximately £255mn, demonstrating its confidence in the potential of 7IM’s future endeavors.
In conclusion, Justham’s insights shed light on the underappreciated significance of financial planning in society and its pivotal role in protecting individuals’ financial security and emotional well-being. Additionally, 7IM’s strategic investments in technology underscore the company’s dedication to empowering financial planners with advanced tools and resources, ultimately aiming to elevate the standards of service and support provided to clients.