Citywire printed articles sponsored by:
View the rest of this gallery online at http://citywire.co.uk/wealth-manager/gallery/a636637
Wealth managers and their AUM: which firm has seen a staggering 209% rise?
by Isabella Nimmo on Nov 26, 2012 at 13:27
Citywire has crunched the numbers to examine the change in assets under management at 24 key wealth groups.
What the firm says: 'Our ethos is centred on providing a transparent and client-focused approach to investment management.
'To eliminate potential conflicts of interest Thurleigh has no in-house products. The partners’ own portfolios are managed alongside and in exactly the same way as those of our clients. We believe that our transparent charging structure clearly demonstrates our openness and integrity as investment managers.'
How Thurleigh has fared: There has been an 8% increase in AUM from 2010 to 2013.
What the firm says: ‘Whether you are an individual, a family, company or trustee, we will tailor our service to suit you. This is a way of working we have nurtured for over 150 years, building our reputation on a level of service that is driven by the relationships we develop with our clients.’
How Charles Stanley has fared: There has been a fall in Charles Stanley’s AUM of 5.04% since 2010.
What the firm says:‘We deliver efficient, professional bespoke portfolio management to all clients by working hand-in-hand with financial advisers and other professional intermediaries. Clients and their advisers have direct access to their Investment Manager and online access to portfolio valuations.
'Our ‘all-inclusive’ fee structure is one the cleanest and most transparent in the business.‘
Has RC Brown grown? There has been no change in the firm's AUM since 2010.
Berry Asset Management
What the firm says: ‘We have been managing the wealth of private families and trustees for 30 years. As a firm, we remain confident, but never complacent, about our ability to continue to deliver superior risk adjusted returns to advisers and their clients, supported by the highest levels of client service and administration.’
How it measures up: Berry has witnessed a 1.2% increase in assets under management (AUM) over the last 3 years.
Smith & Williamson
What the firm says: ‘With Smith & Williamson’s history as a leading provider of investment services to private individuals we have a strong awareness of the needs of professional advisers and the risk appetites of their clients.’
How its assets have changed: There has been a 2.21% rise in AUM.
Brewins says: ‘We recognise building a strong working relationship with you is key to providing an excellent service and this personal approach is mirrored in the way we will approach investing on behalf of your clients. Our focus is on providing investment management that is unique as each client’s needs and that will help them to create and preserve wealth.’
How the firm measures up: Brewins' 42-strong network has notched up an 8.68% increase in assets since 2010.
What Caz says about its offering: ‘As with all areas of Cazenove Capital, our private wealth management business is built on the ethos of mutual trust and confidence. Our focus is, and will always remain, the continued prosperity and wellbeing of our clients.’
Does it measure up? From 2010 to 2012, Cazenove Capital witnessed a rise in AUM that totaled 10.6%.
What Collins Stewart says: ‘Our ability to retain and attract clients can be attributed to four cornerstones around which our proposition has been based: client focused, independence, forward thinking and an offshore heritage.
'By remaining focused on these values, we can deliver the highest levels of service to our clients, coupled with our asset allocation-driven philosophy that seeks to preserve and grow clients’ wealth.’
Has Collins Stewart lived up? Collins Stewart has seen increase in its AUM of 13.92%.
What Dart says about its offeering: ‘At the heart of Dart’s philosophy is the relationship that we have with our clients. We invest thought, time and money in developing these relationships and as a result many of our new clients are referred by existing ones.’
How Dart has delivered: The firm has achieved a 14.7% increase in AUM between 2010 to 2012.
What the firm says: ‘Quilter has a single focus – personalised wealth management services. Our discretionary clients are assigned their own highly skilled and experienced investment manager. We work hand-in-hand with financial intermediaries and other advisers to ensure the investment advice we provide complements each client’s overall financial strategy and objectives.
'Local presence and knowledge are important elements in the personal attention advisers and their clients receive from us.’
Has Quilter delivered? Quilter saw an overall rise in its AUM of 18.86% since 2010.
What the firm says: ‘At Cheviot our success is founded on delivering meticulous personal service, underpinned by a truly modern investment approach. It is a formula which has made us one of the greatest and fastest growing wealth managers in the UK. Three key attributes set Cheviot apart from the competition and helped us to build our current assets under management: our independence, the strength of our investment process and our respect for the individual.’
How Cheviot's numbers add up: Cheviot has recorded a rise in AUM of 18.76% from 2010 to 2012.
What PSigma says: ‘We believe our clients are all individuals and we treat them as such. We are nimble, agile and responsive. We react intelligently and decisively to the changing demands of financial markets.
'We really are experts at what we do, which is targeting consistent, risk adjusted returns above inflation for our clients. We call it inflation plus investing.’
How the numbers stack up: The firm said AUM has risen 19% since 2010.
JM Finn & Co
What JM Finn says: ‘What makes us distinctive is our private ownership and independence of thought, which ensure that we can offer a genuinely bespoke service. We have the freedom to manage and the flexibility to meet our clients’ investment needs.’
How the firm has fared: While JM Finn & saw a rise in its AUM of 23% between 2010 and 2011, this figure dropped in 2012 and pulled back 1.43% in a single year.
What the firm says: ‘Rathbones offers an investment service, not a product. We believe that a direct relationship with our clients ensures their long-term investment objectives are understood.
'For us, independence is important. That means being able to make objective investment decisions based on a whole-of-market approach. Our well researched, performance-driven Rathbones Investment Process guides, rather than controls, the decisions of our experienced investment managers.’
How Rathbones has done: It has clocked up a 25% increase in AUM over last three years.
What Jupiter says: ‘At the heart of our ethos is delivering long-term outperformance for our clients without exposing them to undue risk. Through close relationships we seek to fully understand our clients’’ aims and objectives and use our investment expertise to help realise these.’
How Jupiter's assets have changed: There has been a 28.5% increase in Jupiter’s AUM from 2010 to 2012.
What Ruffer says: ‘At the heart of our approach is an unbenchmarked, active asset allocation that balances investments in ‘fear’ and ‘greed’. Investments in fear should perform well in a market downturn and protect the portfolio value; those in greed should capture growth in favourable conditions.
'This blend of offsetting investments reflects the prevailing risks and opportunities that we see in the world.’
How Ruffer has done: It has seen a 30% increase in AUM from 2010 to 2012.
Seven Investment Management
What Seven says: ‘We set up 7IM to do something different and to change what we saw around the investment management industry, which was often focussed on itself and no on its clients.
'We believe that it is a privilege to look after people’s money, not a right. We hope you will find our approach refreshing.’
How Seven's assets have changed: There has been a rise of 32% in AUM over last three years.
GHC Capital Markets
What the firm says: ‘GHC’s investment strategy is to ensure that portfolios are managed in line with clients risk tolerances. This overrides any other mandate, as outperforming a benchmark may conflict with the risk a client is willing to accept, we are also conscious that some benchmarks are not as risk adverse as they may suggest.
'We sign up business based on a sophisticated investment appraisal process that links back into our independent macroeconomic forecasting, historical trends analysis and risk weighting of asset classes and investment styles.’
How GHC has done: It has achieved a 33% rise in AUM since 2010.
Signature (part of Rowan Dartington)
What Signature says: ‘Signature has an innovative risk-based approach that aligns a client’s attitude to investment risk with a bespoke portfolio using our sophisticated, in-house portfolio management system.
'A commitment to customer service, strong investment performance and our thorough research process combines to allow us to consistently exceed customer expectations.’
How Signature has fared: There has been an increase in AUM of 52.7% between 2010 and 2011, a small drop in 2012 with the firm's assets falling by 0.09%.
What Brooks says: ‘Understanding investment management is only a part of the overall picture, we recognise the importance of working closely with professional advisers in order to ensure the best outcomes. The competitive nature of our offering has encouraged high levels of professional and personal referral, while our service levels and consistent performance have led to high levels of client retention.’
How Brooks stacks up: The firm has clocked up a 54% rise in AUM from 2010 to 2012.
What Vestra says: ‘Key to our approach is uncompromised independence, a thorough and well-informed investment process and transparent charging. We treat all clients as individuals and offer a bespoke service to intermediaries.
'Our investment solutions are designed around their needs, rather than being product-driven. Vestra Wealth is committed to an approach that puts the client first.’
How Vestra has grown: Since 2010 there has been a 47% increase in Vestra’s AUM.
What Veritas says: ‘Veritas is global, thematic investor, seeing to invest in sound growing businesses on an attractive valuation. We have historically delivered real returns, ahead of relevant yardsticks with low volatility.’
Have its assets jumped? Veritas has seen a staggering 135% rise in AUM over last three years.
Redmayne's testimonial: ‘We extend to our full range of award-winning services, from share dealing to discretionary investment management, to your clients, whilst you remain the main point of contact. You can keep up-to-date by viewing your clients’ transactions and portfolios online.
'We are proud of our recognition, having received many awards including Best Advisory broker for the last seven consecutive years. Past performance is not a reliable indicator of future performance.’
How the firm has fared: Redmayne has enjoyed one of the largest jumps in AUM, notching up a rise of 175%.
Standard Life Wealth
What the firm says:‘We believe we have a unique investment management service. By allying traditional long-only investment selected from the whole of the market with a uniquely wide range of uncorrelated alternatives, Standard Life Wealth portfolios have exhibited very low volatilities for the returns they produce when compared with traditionally managed portfolios, such as those benchmarked against the APCIMS indices.’
Has Standard Life grown? There has been a signifcant increase over last three years of 209%.