Wealth management
A mandate, not a relationship of trust alone.
Trust is what makes the conversation possible. A written mandate is what makes it enforceable. Everything we manage is governed by a document that says what we may do, what we may not, and how you will find out.
Mandates
Three arrangements. You choose which.
Discretionary
We make the decisions inside limits you set in writing. You are told what changed and why, not asked to approve each trade.
Suits clients who want the work done and the reasoning available.
Advisory
We research and recommend; you decide. Every recommendation comes with the case against it as well as the case for.
Suits clients who want to stay close to the decisions.
Custody only
We hold and administer assets, handle corporate actions and report. No investment decisions on our side at all.
Suits clients whose adviser sits elsewhere.
How it runs
What actually happens, month to month.
The mandate
Objectives, constraints, permitted instruments and the people who may instruct us. Signed before anything is invested.
Construction
A portfolio built to that mandate, with the reasoning written down rather than described in a meeting.
Rebalancing
Within agreed bands. You are notified when it happens; nothing drifts quietly.
Review
Twice a year: performance, fees, drift, and anything that has changed in your circumstances.
Fees
One schedule, disclosed in full.
We are paid a management fee on assets under care, and nothing else. No transaction charges on top, no retrocessions retained from fund managers, and no spread on foreign exchange that we do not show you.
Where a third party pays us anything — and occasionally one tries to — it is rebated to your account in full and appears on your statement as a credit. You should be able to work out what we earn from you by reading one page.
What we do not do
- Structured products whose payoff we cannot model ourselves.
- Investments in vehicles we or our staff have an interest in.
- Leverage inside a discretionary mandate without a separate written instruction.
The fee schedule itself is provided at introduction.
Ask us what we would do differently.
Bring your current arrangement. We will tell you plainly whether moving it to us is worth your time.