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Adviser Leads: how to pitch to Mark Croxford of Plutus Wealth

Adviser Leads: how to pitch to Mark Croxford of Plutus Wealth
Mark Croxford is a founding partner and member of the Plutus investment committee. He focuses on researching, selecting and monitoring both funds for Plutus’s model portfolios and alternative investments & venture capital trusts/EIS. He holds the investment management certificate.

Plutus was founded on the core principles of integrity, independence and transparency. We apply a team-based approach to ensure our clients draw on our collective strengths and a sliding scale, fixed fee charging structure to eliminate any product bias.

What are the most important factors for you when selecting a discretionary fund manager (DFM)?

A shared or similar investment philosophy is a must, otherwise we are wasting each other’s time. We are cost conscious on behalf of our clients and insist on a flat annual management charge with no additional costs. This removes our concerns on portfolio turnover. The firm or investment manager and their team must be sufficient in size that we are confident in their research capabilities, but not so large that we and our clients become numbers.

What are the least important factors?

A ‘blue chip’ name is often more of a turn-off for the above reason. The same goes for history. The investment management world is changing – for the better, I should add – and it looks as though some of the giants will struggle to adapt.

What will make or break a pitch?

Being prepared is important. It gives the impression of professionalism and valuing the opportunity. The inverse is true of a lack of preparation. Answer questions directly with candour and a willingness to admit mistakes, as all investment managers make them. I’m more concerned by those who gloss over or answer questions vaguely. A manager should engage with prospective clients. Please stop telling me you are ‘not trying to shoot the lights out’.

Fact check:

Total outsourced:

20 million

Platforms:

Novia, Skandia & Standard Life

Average portfolio size:

£190k

DFM Currently:

Brewin Dolphin, London & Capital, PSigma

What do you value most in a DFM?

On a scale of one to five where five is the greatest

Relationship - 4

Past performance - 4

Reporting - 4

Size of firm - 3

Strength of process - 3

 


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