Top Ten UHNW Wealth Managers
‘Our UK clients are global citizens – they have houses abroad and children abroad and they need to diversify in terms of assets, clients and geographies,’ says Charlie Hoffman, producing persuasive charts that prove the importance of diversification within portfolios.
Hoffman exudes charm. This year, having recovered from a snapped Achilles calamity of 2017, he threw himself back into tennis with unlucky results: ‘I slid on a wet court and ripped my medial collateral ligament, so spent a few months of this year recovering.’
Spear’s suspects Hoffman will bounce back. He began in law (‘it gives you that extra pedigree’), but then found his calling in banking. ‘It was absolutely what he was meant to do,’ says an old friend. The relationship manager now handles significant assets in investment, cash and custody, and also a sizeable lending book. He runs a small team, ‘a little like a mini family office,’ he says.
One observer says Hoffman is expert at ‘finding oxygen’ within a large organisation – although he is plainly delighted by the range of services HSBC provides. ‘We’re towards the end of a bull market,’ he says. ‘But we’ve just had really good earnings figures out of the US: we continue to keep advising clients to keep diversifying.’
The former Spear’s Private Banker of the Year also emphasises the importance of remaining fully invested. ‘Don’t go to zero and be a hero,’ he says.