I am not an investment manager

User Written by Carl Turner on May 07, 2014.

I am not an investment manager

I explained in a previous post what my role as a financial planner entails. In this post I’d like to talk about what I don’t do! Many people hold the common misconception that my job involves managing client’s money. This is fundamentally not true – I never touch their money and nor do I make decisions on which funds their money is invested in.

That may be surprising but the reason for this is that I am a financial planner. I work with the current Financial Times wealth manager of the year to do the fund analysis, fund manager interviews and portfolio analysis.

My job is to make sure that the client’s needs and attitude to risk match the product and funds we offer. I leave the actual fund management to the professionals who have the necessary specialist knowledge along with access to constantly updated market information provided by entire teams of researchers. I could never hope to compete with that and would not attempt to. If I am doing my job properly I don't have time to be both a financial planner and an investment manager. We have a team of over 200 in London who take care of the fund management.

One reason that this misconception that a financial planner is also an investment manager is that traditionally financial consultants or ‘wealth managers’ have made investment choices on behalf of their clients. This is particularly true in Asia, where in fact this misguided, if not reckless, practice is still widespread. In many cases, an individual ‘wealth manager’ will try to be a financial planner and fund manager and try to do all the fund research themselves for every client, attract new clients and with no experience or real knowledge start picking funds for their clients to invest in. This is madness as they are not in the least qualified to do this. As a result, frequently investments fail to deliver the promised returns or worse, end with calamitous results for the client.

Here at Infinity, we have a unique model in Asia, working in partnership with Bestinvest, an award-winning professional investment management service. We draw on our expertise to determine your financial objectives and propose how you can achieve them, however we leave the managing of your money to Bestinvest, who are specialists in the investment industry with over 25 years of experience.

Bestinvest have one of the largest and most experienced teams of research analysts in the business. They are constantly monitoring the data which underpins the decisions made by the fund managers, enabling them to effectively manage your investments and maximise your returns. The performance of the fund managers is independently monitored and Bestinvest’s reputation speaks for itself with an impressive raft of awards including UK Wealth Manager of the Year at the Financial Times and Investors Chronicle Wealth Management Awards in 2013, Investment Adviser of the Year at the Professional Adviser Awards in 2012 and Best Discretionary Manager from Money Marketing in 2011.

If you have a financial adviser, I strongly recommend that you find out who picks their investments, how many individuals are involved in the decisions and what their qualifications are. If your investments are being managed by an individual ‘wealth manager’ your portfolio may not be receiving the level of expertise needed to achieve your goals.

Carl Turner

Carl Turner

Posted on May 07, 2014 in Financial Planning.