Investment manager 7IM has entered the next phase of its partnership with fintech Tikker as part of its investment into its propriety platform and supporting technology.

Tikker provides a portfolio automation tool that aims to streamline the rebalancing process, reducing the process time to a few minutes.

7IM’s model portfolio managers and delivery teams can now use a single upload to rebalance portfolios across its platform and multiple platforms if required.

This includes asset allocation changes, reweighting, digitally enhanced changes, and audit trail creation.

The investment manager said that manual portfolio rebalancing had previously been a time-consuming and error-prone process, which often needed multiple inputs across platforms and risked delays that can affect client outcomes.

Tikker looks to save the business time and enhance operational resilience by removing risk through data errors.

Portfolio managers had previously needed to manually input individual trades across multiple dealing points on the platform before replicating these across different platforms.

Furthermore, the time taken between making an adjustment and executing it could span multiple trading windows.

7IM said that, from a Consumer Duty and fair outcomes perspective, this introduced operational inefficiencies that modern infrastructure, such as Tikker, was designed to eliminate to ensure timely, accurate execution and better alignment with clients’ best interests.

The investment manager started working with Tikker last year as one of its founding design partners to improve efficiencies and automate the model portfolio service (MPS) market to help support advice firms.

“It’s been incredibly exciting working with Tikker on a genuinely innovative solution that will make life much easier for MPS providers,” said 7IM head of operations, Darren Fancourt.

“It saves them time and removes the risk of human error but crucially, it means rebalancing processes can be carried out in a single trading window which delivers fair and better outcomes for clients too.”

Tikker founder, Tom Whittle, added: “It’s great to be working with a highly respected wealth manager with the same shared values and an appreciation of the potential for technology to challenge inadequate and outdated systems.

“Tikker is removing the all-too-British queue from portfolio rebalancing, so every investor enjoys fair and equal outcomes.

“In a post RDR and Consumer Duty world, the discretionary portfolio market infrastructure is just too complex, inefficient, and prone to errors and risks.

“We’re excited to be tackling this problem, and in turn supporting platforms in making life easier for their clients and being able to make rapid market adjustments to improve outcomes for end investors.”

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