Wealth Management The UK model of managing wealth

across the generations

David Cobb

Head of Investment and Banking

Smith & Williamson Investment Management

• Advising clients on Investments >100years• Still advising founding family – Now over 300

accounts• Common to advise three or four generations• Long term annuity business• Growing assets = growing revenues

Market drivers

• Personal pension saving = Long term growth market

• Increasing spread of wealth = growing need for investment advice

• Fee based model attractive for clients and advisers

• Clients need a service - not just products

Initial structuring

• Good tax advice vital for best net-of tax returns• Our experience suggests Wealth management

works well linked to Personal tax advice and Pensions advice

• Joined up services – the Virtual Family Office

How we approach portfolio management -

• The search for truly low risk assets

• The right approach to equities

• Demystifying alternative assets

• Conclusion: safety through diversification

• No one single asset class holds the answer

Smith & Williamson Investment Management

Investment approach:

• A sensible balance of risk & return

• Dynamic and continually moving with events

• Personalised according to specific requirements