Top Recommended UHNW Wealth Managers
Iain Tait who heads the boutique firm’s private investment office, sees a parallel between London & Capital’s conservative investment approach and a party: ‘We’re a house that would much prefer to be leaving a little early than staying on late and getting caught in a significant drawdown and leaving with a bit of hangover.’ This mantra is the reason the firm has seen steady asset growth of 10 per cent, despite experiencing past ‘pockets’ of volatility.
The aversion to big growth patterns is a lesson learnt during the collapse of Lehman Brothers, after which Tait pioneered a family office-like service for UHNWs that comes without the cost and administrative burden of a private advisory firm. He describes his clients as ‘complicated, time-poor, wealthy and enjoyable to work for’.
Clients value the independence of Tait’s offering, which he says complements UHNWs’ other service providers rather than replacing the role of the banks. ‘We don’t have a mothership that’s trying to move particular products or sell particular equities,’ he says.
Tait is aware of the psychology of trust involved. ‘Clients want people for the long term, they want people to take away hassle for them, they want that reassurance that they can just let go of their affairs and have people that they know and like, who can help manage and compound wealth over time,’ he says. ‘It’s a long list of things before we start talking about performance and finances.’