A New Force In Finance
What’s the strategic thinking behind this new partnership?
RD: The financial landscape has changed dramatically in the last two years. There are now more investment propositions available and it became clear to us that we needed a more sophisticated discretionary investment solution for our clients to ensure they’re continuing to receive the best range of choices. Our partnership with Bestinvest joins their market-leading discretionary investment expertise to our own powerful financial advisory service. In today’s volatile market conditions, you really do have to move quickly. Most IFAs don’t offer a discretionary service like this, so we’re uniquely placed to support our clients.
JS: It makes such sense to add our in-house discretionary management services to the superb support HW Financial Services already offer their clients. Richard is absolutely right – clients increasingly want to know that function is in the safest possible hands. It’s just not possible nowadays for a business owner to handle day-to-day portfolio management and keep pace with financial planning options in markets that are changing all the time. As Richard says, most IFAs can’t either. They just don’t have the consolidated investment expertise we’re offering.
How exactly will your combined strengths benefit your clients?
JS: Between us, we’ll have national coverage that connects local businesses to a central London team of investment specialists. We now have the biggest research team of any IFA in the UK and have developed unique, award-winning tools – that’s what is so distinctive about the operation we’ve created.
RD: What’s also critical is how that research strength ensures the best market intelligence lies beneath all discretionary and advisory decisions. Combining the strengths of both firms into one organisation means that, for business owners in particular, we’ll be able to free up their time to focus on running their business.
JS: I think the other advantage for the business owner is the breadth of investment opportunity that’s now available. The fundamental rule of investment is diversification – you only have to look at what’s happened in recent years to know it’s dangerous to have too many eggs in one basket. I’d like to think that we can protect business owners from that kind of exposure.
What service differences will your clients see immediately?
RD: They’ll experience a seamless service integrated within one organisation. Clients will continue to work with the same consultant they know and trust, but they’ll immediately have access to the increased buying power we now have to secure the best terms for them. We’re here to understand what a client wants to achieve and set out a road map that keeps them on track to realise those aims and objectives. The business owner market is one we understand inside out – and we already know there’s huge value in the way that HW Financial Services dovetails with the work of the accountancy division of Haines Watts.
JS: Our definite aim is to try and develop long-term relationships. Far too many advisers are only interested in trying to make money in the short-term. That’s not how we operate. We’ve always invested heavily in our staff and encouraged them to take the highest level of exams suited to their work – far, far ahead of the new minimum requirements that will come in at the end of 2012. I’m confident that any client who engages with us will say: ‘That’s what we’ve been looking for.’
HW Financial Services Ltd is authorised and regulated by the Financial Services Authority. The contents of this magazine are intended as a general economic and market commentary and should not be read as specific investment advice. Whilst every effort has been made to ensure accuracy, the information contained in this document may not be comprehensive. Recipients should not act upon this without seeking advice from their usual adviser, noting that past performance is not a guide to the future, that the value of investments may go down as well as up and are not guaranteed.
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Date: 20-01-2010