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Investment People – fiduciaries or salesmen?

Josh and I were in Austin & Boston last week meeting with other advisers at the top of their fields and discussing issues surrounding best practice and fiduciary duty.  The concept of an investment adviser acting as a fiduciary to client’s wealth is given a very high profile in the US but we wonder if in the UK, this is something of an exception rather than the norm? The changing regulatory structure on how advisers charge for their services has brought about sweeping changes in how advisers are positioning themselves when working with their clients and perhaps now is the time to look more deeply and perhaps laterally, at the way we define service.

61% of people don’t have a budget…. Do you?

I have tried to personally budget on numerous occasions. I have tried excel spreadsheets, Quicken and other software. I hate budgeting, most people I know also hate it as it’s pretty boring and can lead to some uncomfortable conversations both of which we tend to avoid. The trouble I have is how to budget the lumpy items, the cash and the one-offs. Given these hurdles I often give up.

When people come to me with questions about investing, those questions, irrespective of the net-worth of the client, always lead to budgets.

A Good Education

Over the years I have chalked up a few academic accolades and whilst of course I value them I also value the depth of achievement of colleagues. At MASECO we have individuals who have passed advanced qualifications such as CFAs, CFPs, ACAs, those who have completed and are completing MBAs and Mark who is concluding his Ph.D. in Finance.