Discretionary fund manager 7IM has added an Adventurous Plus model to its Blended Model Portfolio Service (MPS) range.

The new model is the most adventurous for the DFMs Blended range.

The other six existing portfolios in the Blended range are: Cautious, Moderately Cautious, Balanced, Income, Moderately Adventurous, and Adventurous.

The Blended portfolios are managed with a greater focus on passive investments than the DFM’s other ranges, typically with a higher allocation to tracker funds and exchange traded funds.

Other MPS ranges from the DFM include Passive, Active and Responsible Choice Portfolios.

The new model can be accessed via the 7IM platform, with plans to add it to other platforms in the future.

It has the same pricing as the rest of the Blended range, carrying an annual portfolio fee of 0.25% and ongoing costs of the underlying holdings ranging between 0.20% and 0.40%.

Verona Kenny, managing director, intermediary at 7IM, said the addition of the new model was in response to adviser demand.

She said: “The launch of this new model underlines our commitment to listen and respond to client demand, particularly in an environment where some individuals are looking to generate stronger returns in a challenging economic environment.

“We are always looking for new, innovative ways to improve our proposition and service, and we’re delighted to be able to deliver on feedback from advisers.”

DFM 7IM had a strong 2021, with profits rising to £9.5m, a rise of 83% from 2020.

The firm said its acquisitions of Partners Wealth Management and Find a Wealth Manager were key contributor’s to the firm’s performance in 2021. 

Both wealth management firms continue to operate independently from the discretionary fund manager.

Earlier this year Sky News reported that wealth manager and Financial Planner Brooks Macdonald was plotting a £300m bid for the DFM.

However, both firms denied to Financial Planning Today that any talks were talking place.