Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Adviser Leads: how to pitch to Martin Cawley of Devonshire Wealth

Adviser Leads: how to pitch to Martin Cawley of Devonshire Wealth

Martin Cawley is CEO of Devonshire Wealth Management with more than 20 years’ experience in wealth management. He joined Devonshire in 2001, became a director in 2006 and CEO in 2009.

Devonshire Wealth Management is a bespoke, fee-based wealth manager, based in London’s West End. We work closely with introducing firms of lawyers and accountants and have done for over 20 years. The key to our business is the long-term relationships that we build and maintain with our clients and introducers.

What are the most important factors for you when selecting a DFM?

We are a small business and we pride ourselves on giving clients high levels of service, and this remains important when looking at a DFM proposition.

We use DFMs that work on a team basis but are extremely personable and construct bespoke, individual portfolios on individual client’s personal requirements. We look at firms that are large enough to provide a full and cost-effective service, but small enough that our business matters to them, and where we have a culture fit.

Regular comunication with the DFM is imperative. As an example, we speak to Brooks Macdonald on a daily basis about various client issues and performances. It is a great way to get to know someone, warts and all.

What are the least important factors?

Grand offices on prestigious streets do not impress us. We like to look the decision maker in the eye, and the performance and risk management of our clients investment accounts are of primary importance.

What will make or break a pitch:

When an investment manager pitches solely on past performance and puts across a managed portfolio proposition. We view DFM as a route for bespoke, individual, personal portfolios that sit on wrap platforms. DFMs need to take the time to understand our clients and our business, and not to pigeon-hole our clients and us. A clearly defined team-based investment proposition is key.

FACT CHECK

Total assets outsourced:

£60m

Average portfolio size:

£500k

Location:

London 

Preferred platforms:

Elevate

DFMs currently used:

Brooks MacDonald, Quilters

What do you value most in a DFM?

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

Relationship - 4

Past performance - 2

Reporting - 5

Size of firm - 3

Strength of process - 1

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

On the Road Challenge: Clay pigeon shooting with Thesis' Lansdowne

Eleanor Mahmoud goes clay shooting at the National Clay Shooting Centre with Sam Lansdowne from Thesis Asset Management

Play AA-rated Flood on gov't bonds: 'the maths doesn't add up'

AA-rated Flood on gov't bonds: 'the maths doesn't add up'

He also addresses why his Newton Multi-Asset Income fund has such a high cash weighting and why he sees renewables as such a good opportunity.

Play AAA-rated Ali: Identifying the peripheral European plays

AAA-rated Ali: Identifying the peripheral European plays

Citywire AAA-rated Tawhid Ali thinks that plenty of good stocks in the European periphery are being thrown out with the proverbial bath water.

Read More
Your Business: Cover Star Club

Profile: 'for the first time since 1981, I have to watch politics'

Profile: 'for the first time since 1981, I have to watch politics'

James Hambro & Partners’ William Francklin says he is having to factor politics into his thinking for the first time in his 36-year career

Wealth Manager on Twitter