Top Recommended HNW Wealth Managers
‘We started from nothing,’ says Netwealth CEO Charlotte Ransom. But things at the young investment management firm are developing apace. Ransom spent 19 years at Goldman Sachs, where she was a partner, and had a two-year spell at Decura Investment Management before founding the firm in 2015, with an ambition to combine the best of a traditional discretionary service with the benefits of a ‘technology-enhanced’ approach.
The business is well-backed, with shareholders including Santander vice-chair Bruce Carnegie-Brown and ex-Man Group chair Harvey McGrath. But, Ransom says, ‘When you’re new you don’t really have a track record. Sometimes that’s raised as a bit of a barrier as to why people shouldn’t invest with you.’ Having recently celebrated the third anniversary of the launch of the investment management proposition, that is changing.
Performance, Ransom says, has been ‘very good’. The firm’s internal benchmark of ‘inflation plus 0.5 per cent’ at risk level one, and up to 3.5 per cent above inflation at risk level seven.‘Since inception it’s 3.2 per cent at risk level one,’ says Ransom, ‘and 32 per cent at risk level seven. Because we’re so low cost we’ve out performed ARC in pretty much every segment.’