Mr Proctor, who has over 25 years' experience in financial services, joined the business on 8 April to take over from former CEO and co-founder of 7IM, Tom Sheridan who has retired.
Before joining 7IM, Mr Proctor was managing director at Barclays, heading the unsecured lending business in the UK.
Prior to this, he was the executive general manager for the Commercial Bank of Qatar, based in Doha, and the CEO of Arbuthnot Latham, based in London.
Mr Proctor said: “The FCA approval is an important milestone and one of many that over the next few months and years that will demonstrate our commitment to continue to partner and grow with our clients.
“The ongoing determination to provide exceptional service underpinned by strong and consistent investment performance and innovative solutions like 7IMagine and our recently launched Retirement Income Service are central to our beliefs and aspirations.
“In the short time I’ve been at 7IM it’s become apparent that we have the foundations of a great business with many strong capabilities and solutions, and high calibre people. It has also been fantastic meeting so many clients in my first few weeks and to listen to how we can build on these crucial relationships to improve our respective businesses and service clients with distinction.
“The focus for me and my team, is to now build upon this solid foundation, imagine and position ourselves for the future given the constantly changing landscape, and to passionately and relentlessly focus on delivering on our commitments through innovative, customer centric solutions and services to both our advisory partners and private clients.”