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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

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