Seven Investment Management (7IM) is to cut fees for investors with larger sums on its platform.

The firm says the move will make it “one of the most competitively-priced platforms for high-net-worth clients and family groups.”

From 1 April, investors with between £2m and £5m on its platform will see their fees fall from 0.15% to 0.08% for the balance between £2m and £5m, while those with more than £5m will see fees drop from 0.15% to 0.05% for balances over £5m.

The fee cut will apply to both existing and new business.
 
Verona Kenny, head of intermediary at 7IM, said: “We want to make sure that our fees remain appropriate and fair to our clients and we believe that this reduction to our rate card makes us the best value for money platform available for clients including those with higher balances and in family grouping for pricing.”
 
She added: “This client segment has always been a key area for 7IM and we are pleased to be able to offer this deal for both existing and new clients.

“We see this as a core part of our move to provide high-net-worth individuals with the best possible offering and client experience.”