Top Ten UHNW Wealth Managers
Khaled Said is the founder of Capital Generation Partners, a highly refined business with deep knowledge of the needs of UHNWs. ‘Most of the thought leadership we do is client-driven,’ he tells Spear’s, and it’s that ability to understand the mind of the HNW client that sets this business apart.
That sense was increased in 2018 with the hire of Michel de Carvalho: the chairman brings with him the contacts accrued over years at Citi.
Said is a critic of some of the clichés that beset the wealth management industry. He dislikes the modern penchant for apps (‘You wake in the morning, you brush your teeth and you think, “I’m down 3 per cent”’). He also understands the needs of next-gen family members: ‘They’re told they need to be entrepreneurial but also dutiful – all of the things that successful entrepreneurs don’t do!’
And Said’s investment philosophy? ‘We’re cautiously optimistic and have been for a while. Traditionally in the past you’ve seen bonds as a safe haven to equities. But because interest rates have been so low for so long, you cannot take money out of equities and put it into bonds. We’ve kept bond portfolios fairly small and duration short.’