Top Recommended HNW Wealth Managers
Chris Cole’s Lockhart Capital Management was only launched in 2017, but the firm has already built up a head of steam. ‘We have now almost reached the position where we are unable to take on any new clients,’ he says. ‘Our challenge therefore for 2019 is to locate and reach out to other like-minded wealth managers who may also wish to join us in our boutique practice.’
Any new recruits will have to buy into the ethos of providing a relatively small number of clients with ‘a very personal financial planning and wealth management experience’. That, Cole suggests, isn’t always on offer elsewhere. ‘The post-RDR world has, ironically, resulted in less consumer choice, and this trend is only accelerating. M&A activity in the wealth advice space has left an incumbent oligopoly, with similar models and challenges.’
One area in which he sees more variety, however, is in the ESG approach to investment. ‘[It] looks to be a far larger and more permanent feature of the financial landscape than the previous iterations of “ethical” and “SRI” investing were,’ he says.
Cole also notes that ‘the shift from mutual funds to ETFs continues apace’, but ‘in many cases the ETFs themselves are then traded far more frequently’.