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7IMagine turns five

03 Apr 2018

7IM’s free app, 7IMagine, turned five this month, and to celebrate the team has launched an update to coincide with the anniversary.

7IM’s free app, 7IMagine, turned five this month, and to celebrate the team has launched an update to coincide with the anniversary.

It was originally launched back in 2013 to help investors engage with their personal finances. It uses the technology developed by the experts behind Nintendo 64 classics GoldenEye and Donkey Kong. They approached 7IM as they saw a gap between the way that investments were being reported and the intuitive way that the gaming industry developed products.

The initial launch saw an interactive way for 7IM clients to access their portfolios, see how their investments were performing and dig into the detail as much as they wanted. So, for example, clicking on the 7IM or third party holdings takes browsers through to the underlying fund fact sheet.

The launch of My Future in 2016 saw the app take a big step forward as it allows investors to plug in their financial details – either accurately or from memory – to then develop scenarios to see how their finances might perform in the future. Known as cashflow modelling, it extrapolates how regular savings will accumulate and, once inflation and projected spending are taken into account, see if you’re on track for retirement in a very visual way.

The updates include incorporating the details from the last budget which take effect from the new tax year on 6 April e.g. the increases in the personal income tax allowance and the increase in the state pension. It also allows people to adjust the level of any pension contributions.

In addition, 7IMagine now enables paraplanners or other support staff to create My Future plans for a client or prospect and then assign the relationship manager and/ or adviser who will take the lead on that person’s account.

More changes are being planned and it’s anticipated that a further update will be released in late 2018.

To download 7IMagine and use it with your clients and prospects, please follow the instructions available here or call your relationship manager on 020 7760 8829.

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The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.

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