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LGT Vestra

For all press enquiries please contact Esther Hanes
+44 (0)20 3207 8007 esther.hanes@lgtvestra.com

We are delighted to announce the Prince's Trust as our dedicated charity partner. Find out more about our partnership and initiatives for 2016.

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European growth and US "tax holiday" - Mar 2017

Jonathan Marriott – Chief Investment Officer

Are markets under-appreciating a potential resurgence of growth in Europe or will politics undermine it?

What will be the impact of a ‘tax holiday’ for US companies bringing overseas cash back to the US? Who benefits most?

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CIO Question Time - Japan, UK banking and the Federal Reserve - Mar 2017

Jonathan Marriott – Chief Investment Officer

Should I be considering Japanese equities?

What do you think of the UK banking sector? Clearly the banks are well capitalised, compared to their global peers and prior to 2008, but do you see a compelling investment opportunity with such low relative valuations?

Should we be concerned about the Bank of England raising rates?

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CIO Question Time – Greek debt and bond bull market - Mar 2017

Jonathan Marriott – Chief Investment Officer

The Greek debt crisis has raised its head again recently. How long can the present "fudged" situation last?

Is the thirty year bull market for bonds finally coming to an end?

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Budget 2017: LGT Vestra’s key points - Mar 2017

Graeme Stenson – Wealth Planner

Key measures announced today: Dividend allowance, National insurance – Self employed, Rent a room relief, Qualifying Recognised Overseas Pension Schemes (QROPs), Avoidance, NS&I Investment Bond, Withholding tax on interest, Corporation Tax.

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Budget 2017: Market reaction. CIO First impressions - Mar 2017

Jonathan Marriott – Chief Investment Officer

To title this “first impressions” is perhaps an overstatement as this afternoon’s budget has made very little impression on the markets. The three main markets I look to for a reaction are Gilts, Sterling and UK equities.

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CIO Question Time – Trump's address and fund selection - Mar 2017

Jonathan Marriott – Chief Investment Officer

What impact do you see from Trump’s state of the union address?

Where do you sit in the active vs. passive debate?

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Blog post - Another year end already? - Mar 2017

Nick Blogg, Investment Manager, LGT Vestra US

Whilst we may only be a few weeks into 2017, for many of our clients, thoughts are already turning to the end of the UK fiscal year on 5th April 2017.

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CIO Question Time – French elections and currency moves - Feb 2017

Jonathan Marriott – Chief Investment Officer

What do you think about the French elections and the likelihood of Marine Le Pen becoming President? What are the inherent market risks with her being elected?

Where do you see the dollar going from here – in particular against sterling, the euro and yen?

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CIO Question Time – Rise in inflation - Feb 2017

Jonathan Marriott – Chief Investment Officer

Is the rise in inflation a sign of a strong economy? Will the Bank of England raise interest rates in response?

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Blog post - Betting on peace and long-term returns - Feb 2017

Jonathan Marriott - CIO

Searching through an old correspondence file I found a letter from Henry Spelman to his broker. Henry asks him to invest £300 in Consolidated Stock. He commented that the price was so depressed that rather than the 3% nominal interest he would earn nearly 6% and if there was peace he would make a profit.

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CIO Question Time – Housing crisis and volatility - Feb 2017

Jonathan Marriott – Chief Investment Officer

What will be the impact of the government’s White Paper on housing released this week?

Why is volatility so low?

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Blog post - Investing in change - Feb 2017

Paul Nixon, CEO, LGT Vestra US

‘Change’ refers to a difference in a state of affairs at different points in time. Although it is a familiar concept, an analysis of change is more difficult than it suggests and has challenged philosophers for thousands of years.

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CIO Question Time – Gold and a rise in populism - Feb 2017

Jonathan Marriott – Chief Investment Officer

Is gold still a safe haven asset?

How have you adapted your investment strategy in the face of rising populism?

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Blog post - How do you like your Brexit? - Feb 2017

Charlie Parnell – Partner, Investment Manager

“I know many may fear this might herald the beginning of a greater unravelling of the EU. But let me be clear: I do not want that to happen. It would not be in the interests of Britain. It remains overwhelmingly and compellingly in Britain’s national interest that the EU should succeed.” Theresa May, January 2017

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Blog post - Lessons from history: Corn Laws - Jan 2017

Jonathan Marriott - Chief Investment Officer

Before Trump goes for import tariffs he should think through the consequences and take some lessons from history. 200 years ago, import controls contributed to hardships that came close to bringing down the British government of the time.

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Blog post - Supreme Court and Trump First Week - Jan 2017

Jonathan Marriott – Chief Investment Officer

What was the importance of the Supreme Court decision this week and what impact will it have?
The dollar is consolidating this week. Is it the end of the dollar bull market and if so what are the implications for investments?

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CIO Question Time – Sterling up and defending globalisation - Jan 2017

Jonathan Marriott – Chief Investment Officer

Why was sterling up during Theresa May’s Brexit speech?
What effect do you think President Xi’s speech at Davos, defending globalisation will have on markets?

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Blog post - Under the wrapper - Jan 2017

Jonathan Marriott – Chief Investment Officer

As the Christmas decorations are stored away for another year and the crackers leave the supermarket shelves, the retailers will be looking to the next holiday they can capitalise on: Easter. With this in mind and the inauguration drawing closer, it made me wonder; is a Trump Presidency like an Easter egg, waiting to be opened?

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CIO Question Time – Brexit and growth/value investing - Jan 2017

Jonathan Marriott – Chief Investment Officer

What are your thoughts about Brexit and the impact it is likely to have on the UK economy and UK investors?
Arguably there has been a shift in market leadership between growth investing and value investing. Does LGT Vestra believe this is sustainable and how have you positioned your portfolios to take advantage of it?

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Blog post - An alternative perspective on Total Return for 2017 - Jan 2017

David Scott – Chairman

Within a few weeks of Vestra opening for business in August 2008, the global financial crisis hit us all. Since that date, we have endured a seemingly endless stream of crises, all of which were going to destroy our financial prosperity and bring the world to its knees.

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CIO Question Time – Banks on the rise and US fixed interest - Jan 2017

Jonathan Marriott – Chief Investment Officer

Why are banks doing so well?

Given the recent rise in yields since Donald Trump’s election victory, is it likely that this trend will continue? What does it mean for fixed interest markets? And how have you positioned your portfolios in relation for this change?

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Blog post - 2016 year end review: A year to “Keep Calm and Carry On”? - Jan 2017

Jonathan Marriott – Chief Investment Officer

It has been a year of extraordinary events and tragic losses. At the start of the year, a vote for Brexit and a Trump presidency seemed farfetched. The terrorist attacks in France and Germany highlighted the continued danger from Islamic extremists. In Italy, the oldest bank in the world needed to be rescued by a state bail out and a referendum on political reform failed to pass. At the start of the year, concerns were raised about the slowing Chinese economy, falling commodity prices and a global recession.

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Blog post – A year of change - Jan 2017

A year of change

Ben Snee – CEO

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CIO Question Time – Santa Rallies and the Bank of Japan - Dec 2016

Jonathan Marriott – Chief Investment Officer

Does a “Santa Rally” really exist?

Are there any significant points we should take from this week’s Bank of Japan’s Monetary Policy Statement?

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Blog post - Extracts from 'The journey of the “financial Magi”' - Dec 2016

Jonathan Marriott – Chief Investment Officer

Extracts from our 2016 Christmas article ‘The journey of the “financial Magi”’.

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Blog post - Retirement speak - Dec 2016

David Lane - Partner and Technical Director

The general consensus is, new(ish) pension freedoms introduced in April 2015 look and feel ‘right’. The underlying principle of the reforms is that people in retirement should be able to experience a greater amount of control over their money. The way people retire is very different, the handshake and the watch have disappeared.

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CIO Question Time – Fixed interest and US banking - Dec 2016

Jonathan Marriott – Chief Investment Officer

How do you invest a bond portfolio in a rising interest rate environment?

What are your thoughts on the US banking/financial sectors for 2017, especially with the expected FED rate hikes?

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Blog post - Open minds and sunk costs - Dec 2016

Russell Harrop - Head of International Equities

I’ve written my wish list for Father Christmas, the length of which seems to be inversely proportional to my age.

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CIO Question Time – What impact has Brexit had so far? - Dec 2016

Jonathan Marriott – Chief Investment Officer

What impact has Brexit had so far?

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Blog post - 2016: Three on a match - Dec 2016

Jonathan Marriott – Chief Investment Officer

They say that phenomena tend to come in threes. One of the origins of this belief stems from an old superstition amongst soldiers (predating the Crimean War) that if three soldiers lit their cigarettes from the same match, the third and final soldier to light his cigarette would be killed.

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CIO Question Time – Italian banking and oil - Dec 2016

Jonathan Marriott – Chief Investment Officer

Should we be worried about the Italian banking sector?
What does the future hold for the oil price post presidential election result, assuming Trump’s protectionist policies come through?

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Blog post - Investing in a post-truth world - Nov 2016

Russell Harrop, Head of International Equities
2016 has been a ‘marmite’ kind of year - whether you regard it as an annus mirabilis or annus horribilis likely depends on who or what you voted for or where you live.

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CIO Question Time – Blaming OBR and fiscal stimulus - Nov 2016

Jonathan Marriott – Chief Investment Officer

The Office of Budget Responsibility has been criticised for the downgrade in economic forecasts revealed in the Autumn Statement - is this fair?
Is the market expecting too much from a shift to fiscal stimulus?

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Blog post - Autumn Statement: much ado about nothing? - Nov 2016

Simon Allister – Head of Wealth Planning

It would not be unreasonable for advisers and clients to have approached the Autumn Statement with a degree of trepidation.

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Blog post - The last Autumn Statement – Saving Pemberley? - Nov 2016

Jonathan Marriott – Chief Investment Officer

This was the last Autumn Statement as the Chancellor changes the diary to just a brief spring statement followed by one Budget a year, which will continue to take place in the autumn.

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Blog post - Referendum Frenzi - Nov 2016

Robert Nye - Wealth Manager

In case you have missed the coverage, the US presidential election is now behind us. After President-elect Trump’s success and following the ‘Brexit’ referendum over the summer, potential constitutional crises have never been more in vogue.

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CIO Question Time - Are we finally seeing a great rotation out of bonds? - Nov 2016

Jonathan Marriott – Chief Investment Officer

Are we finally seeing a great rotation out of bonds?

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Blog post - Ingredients for success: A soufflé rising - Nov 2016

Alex Hayward - Wealth Strategist

On the eve of the US election, the world ruminated on the election of Donald Trump. With an uncertainty much greater than when the British Bake Off moved to Channel 4, we wondered who would rule the big white tent come January.

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CIO Question Time – What impact has the Trump victory had and is the market reaction rational? - Nov 2016

Jonathan Marriott – Chief Investment Officer

What impact has the Trump victory had and is the market reaction rational?

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US Election update - Nov 2016

Jonathan Marriott – Chief Investment Officer

There are certainly those who are concerned by the concept of President Trump, politically and socially many find him and his approach challenging, however, it is important to appreciate that Trump may not be as bad for markets as many expect.

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CIO Question Time – Autumn statement and US election - Nov 2016

Jonathan Marriott – Chief Investment Officer

What do you think the impact of the US election on markets will be in the short run?

With the Autumn statement this month, what do you expect for fiscal stimulus and will it have an effect on monetary policy?

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Blog post - US Election 2016 – The most unconventional election yet? - Nov 2016

Neil Williams – Investment Director, LGT Vestra US

This US election has certainly been unconventional to say the least and reflects the widely held view that American politics is becoming more polarized

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CIO Question Time - Commercial Property - Oct 2016

Jonathan Marriott – Chief Investment Officer

In spite of long term outperformance, does UK commercial property remain an attractive asset class in light of long term low interest rates and Brexit?

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Blog post - Fear & Greed in 2016 - Oct 2016

Charlie Parnell – Partner, Investment Manager

Fear (noun) – a distressing emotion aroused by impending danger, whether the threat is real or imagined

Greed (noun) – excessive or rapacious desire, especially for wealth and possessions

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CIO Question Time - Dividends and Marmite - Oct 2016

Jonathan Marriott – Chief Investment Officer

How sustainable are company dividends in the current environment in the UK, given the prospect of low and diminishing growth?
What is the outlook for consumers’ wallets following the fall in the pound?

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CIO Question Time – The latest on Samsung and the contrast between the pound and FTSE - Oct 2016

Jonathan Marriott – Chief Investment Officer

What’s happened to Samsung and can it recover?
Why are the pound and the FTSE going in different directions?

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Blog post - Set up before you sell up – Personal considerations for an entrepreneur - Oct 2016

Jordan Buck - Investment Strategist

A letter just landed on my desk. “Everything you need to know about selling your business”, it reads; “Exclusive offer on this 2-day training course”. The letter sits alongside a “definitive” guide to selling a business, something which most M&A houses and professional services firms produce. Some of which, might I add, are excellent, detailing every part of the process from valuation to closing. But, they fail to consider the fact that there is more to a business than numbers on a spreadsheet

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CIO Question Time - Theresa May's economical impact and increasing income without the risk - Oct 2016

Jonathan Marriott – Chief Investment Officer

Does May make a difference to the economy?
How can I increase the yield/income of my investments without taking on more risk?

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Blog post - The year so far - end of Q3 - Oct 2016

Jonathan Marriott – Chief Investment Officer

So far this year, financial markets have been characterised by bouts of weakness followed by strong equity market recoveries. In February, markets were dominated by fears of Chinese growth slowing and the belief that this could lead to a knock-on effect for global growth. The sharp selloff was followed by a steep recovery in March; Chinese data came in better than anticipated and the concerns from February began to fade. Another market downturn came around the time of the UK’s referendum on whether to leave the EU, owing to concerns that this would damage global trade and increase political uncertainty. Again, the effect was short lived and equity markets quickly rebounded. Overall, investors have needed to keep calm and avoid selling into these times of uncertainty.

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CIO Question Time - Low yields and the impact of the US Election - Sep 2016

Jonathan Marriott – Chief Investment Officer

Are bonds still a safe haven?
What impact will the US Election have on investment markets?

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Blog post - To buy or not to buy - is investing in property all it's taxed up to be? - Sep 2016

David Lane - Partner and Technical Director

Now that the summer is drawing to a close, and in the run up to what is believed to be an “interesting” Autumn Statement, there is the anticipation of a re-focusing on priorities including a renewed focus on personal financial and investment objectives. Particular areas of change are the introduction by the government of a number of tax initiatives and reforms in property, inheritance tax and corporate taxation.

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Blog post - When will the Federal Reserve next raise rates and will it impact the market? - Sep 2016

Jonathan Marriott - Chief Investment Officer

Many people have predicted a collapse in markets as rates move up and this has periodically caused concern in equity markets. As expected, the Federal Reserve (Fed) did not raise rates this week but still indicated that a rate rise was possible before year end, most likely at the December meeting due to the election. This is subject to the economy continuing to improve as they anticipate. Subsequently, US equities moved about 1% higher. However the Fed has revised their expectations for the future path of rates and the long run funds rate lower.

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Blog post - Lessons from history: Pipewell - Sep 2016

Jonathan Marriott - Chief Investment Officer

They speculated on the futures market, borrowed against unrealistic profit expectations first from bankers in France and then Italy. They held an extravagant party to mark the opening their new building with celebrity guests. When it all went wrong they fell back on state aid. Sounds like recent history, but from a date point of view this is closer to “Robin Hood” than “Wolf of Wall St”.

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Blog post - From Coffee House to Stock Exchange - Aug 2016

Jonathan Marriott - Chief Investment Officer

Visitors often comment on the setting of LGT Vestra’s office in the City of London. Directly facing the front of the Bank of England and next to the impressive Royal Exchange building, we are at the heart of London’s financial district. Little known is the historic significance of the position for investors. Change Alley which runs down the east side of the office was home to Jonathan’s Coffee House. A blue ceramic plaque commemorates this as the principal meeting place of Stockbrokers between 1680 and 1778. It was Jonathan’s that eventually became the London Stock Exchange. Indeed, when I started working in the Stock Exchange thirty-five years ago the members bar was still called Jonathan’s.

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Blog post - Citius, Altius, Fortius - Faster, Higher, Stronger - Aug 2016

Paul Nixon - Chief Executive Officer, LGT Vestra US

Rio’s 2016 Summer Olympic Games has been the most successful for Great Britain since the origin of the Games in Ancient Greece in c. 776BC. Although technically speaking, I should mention that GB has only been participating since the birth of the modern Olympic Games in 1896 (where the winner was awarded a silver medal and runners up received a copper medal!).

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Blog post - Investment playbook - Aug 2016

Rohit Ahluwalia - Head of International Investment Solutions

Growing up in Canada, I had the opportunity to play a number of different sports; from baseball to ball hockey, basketball and soccer. If anyone has ever played team sports they can relate to how important working together and strategy are to winning. The process of planning a strategy, to take account of your teammates’ strengths and weaknesses, for them to fulfil their roles, and executing it all perfectly is truly one of the most fulfilling experiences.

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Blog post - Extracts from an essay on 'Healthy Ambition' by Oliver James - Aug 2016

With the Olympic games due to kick off in Rio this weekend, this week’s blog shares an extract from Oliver James’s essay on ambition, as part of our partnership with The School of Life.

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Blog post – First UK rate cut since 2009 – CIO Summary - Aug 2016

Jonathan Marriott - Chief Investment Officer

The Monetary Policy Committee (MPC) of the Bank of England met today. From this meeting, they have announced a package of measures which are intended to boost the economy after the vote for Brexit in June. This was then followed by the release of the Bank of England Quarterly inflation report and a press conference at which the Governor Mark Carney was questioned about the MPC actions and expectations.

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Blog post - Investing in castles not ruins - Jul 2016

Russell Harrop, Head of International Equities

I’ve been re-reading Benjamin Graham’s seminal book on investing ‘The Intelligent Investor’. It was first published in 1949 and is possibly even more relevant today than it was then. In the commentary by portfolio manager Jason Zweig he refers to the short-termism of UK and US investors. Various studies have shown the average holding period for stocks by fund managers is anywhere between 3 months and a year. Jason sums it up nicely by saying that it’s as if managers “were studying their stocks just long enough to learn they shouldn’t have bought them in the first place, then promptly dumping them and starting all over”. Just as we cannot escape them in life, sadly we cannot escape mistakes in investing. We can, however, act to minimise their impact and the probability of them happening.

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Blog post - Pokemon Go - the start of a new reality - Jul 2016

James Follows - Head of UK Equities

Virtual reality (VR) – the convincing creation of a 3D world - has been imagined for decades, but it is only recent breakthroughs in computer processing power and screen display quality that has taken it to the point of being a viable mainstream technology. VR is still associated with teenagers playing computer games, but I believe that we are on the verge of a far more widespread application of the technology, and for a stock market investor, the creation of new digital realities will bring opportunities and threats.

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Blog post - 2016 Half year review - Jul 2016

Jonathan Marriot – Chief Investment Officer

Looking back over the first half of 2016, the FTSE 100 index increased by 6.7% when dividend payments are taken into account. However, this positive performance disguises the substantial equity market volatility seen in February, and again following the Brexit decision in June.

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Blog post - RHS Chelsea Flower Show: Influences on Portfolio Management - May 2016

Jonathan Marriott, Chief Investment Officer

Wandering amongst the exhibits at the RHS Chelsea Flower Show I start to think about my garden like an investment portfolio a potential client may show us. Neither is doing what we want it to do, there are gaps and the climate is changing.

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Blog post - "Talking to children about Prenuptial Agreements" - May 2016

Alex Hayward, Wealth Strategist

A marriage announcement can bring parents excitement, but also worry. The protection felt for children also extends in a different form to the business and financial assets they have grown and nurtured. As such, prenuptial agreements are becoming an increasingly critical component of wealth preservation planning.

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Blog post - "In the back of the cab" - April 2016 - Apr 2016

David Lane, Partner

Another early morning start and more standing and waiting for a cab to pitch up. At least I was not alone. One other traveller had joined me and recognising that strength comes through numbers we decided to share a cab to our different destinations which were conveniently in the same direction. After pleasantries we started talking about what we both did as a living and why had we ended up travelling in the same cab , going in the same direction.

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Blog post - Extracts from an essay on 'Courage', by Mark Vernon - Apr 2016

Extracts from an essay on ‘Courage’, by Mark Vernon, part of our partnership with The School of Life

Courage is a widely celebrated virtue, one that underpins our capacity to embrace and enjoy life, but there is more to it than simply being brave. It is not the absence of fear. This was the mistake the Cowardly Lion made in the Wizard of Oz. Rather, it is the capacity to feel fear and wisely use the insights that experience brings.

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Blog post - Will the children ever leave home? Helping your children onto the property ladder - Apr 2016

Jenny Tozer, Partner

The perennial question from many of our clients over the last few years has been "How do we best help our children to get onto the housing ladder?” This has been especially true for London based families who are well aware that affordability is at an all time low, access to low cost funding and fairly priced mortgages are restricted and the recently announced Help to Buy Schemes still require a significant deposit. The new Lifetime ISA will provide a tax effective savings "wrapper" but again, even saving the maximum of £4,000 pa (£5,000 gross) will take years to build up a deposit for a Help to Buy Scheme.

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Blog post - Character - Apr 2016

Andrew Davies, Head of Bristol Office

I have recently made probably the third ‘big’ move in my 23 year career and looking back at these defining moments so much has been about character. Maybe more subconsciously earlier in my career, but definitely consciously recently. Decisions like these are always down to character whether it be of the organisation, the boss, the team, the people interviewing, or your own. The same can be said of successful adviser client relationships. Is there a meeting of minds, do they understand me and do I understand their requirements? If the answer is no, then it is unlikely there will be a long-term relationship that can withstand the ups and downs of long-term investing.

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Blog post - Ethically tailored - Mar 2016

Duncan Carmichael-Jack, Partner

Ethical investment as a concept is perhaps older than many people think. Although not formally labelled as such, its origins are rooted in mid 18th century religious groups and display the efforts to interpret certain beliefs and align them with economic actions. In the present day, socio and geopolitical issues continue to influence the outlook on ethics and perceptions of right or wrong, and debate continues as to how an individual might best impact the world around them for the better.

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Blog post - Opportunity cost knocks - Feb 2016

Russell Harrop, Head of International Equities

Decisions, decisions, decisions. The vast majority of the time we just take them without even thinking about it; indeed almost all are so small or commonplace that we couldn’t even tell anyone that we had. This is hardly surprising, given that we are believed to make 10,000 decisions every day. Author and economist, Noreena Hertz, states in her essay ‘Decisions’ from Vestra’s essay series in partnership with The School of Life, that ‘we make 10,000 decisions every day, 277 just about food’. Based on eight hours sleep, that’s a new decision every 6 seconds. Ouch. With such numbers we’re bound to get many wrong, but how can we make sure more of them are right?

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Blog post - Learning from Quarterbacks - Feb 2016

Paul Nixon, Managing Director - Vestra US

It is estimated that, on Sunday night, over 111 million people across the globe tuned in to watch Super Bowl 50 play out between the Denver Broncos and the Carolina Panthers at Levi’s stadium in Santa Clara, CA. Perhaps somewhat more surprising is that over 4 million people in the UK made the effort to stay up on a Sunday night, for an 11.30pm kick-off, to watch the finale of the NFL season. Whether it is the opening kick-off, the half time show or the TV adverts there is no denying the draw of the NFL’s premier event.

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Blog post - "In the back of the cab" - Feb 2016

David Lane, Partner and Business Development Technical Director

Stuck in traffic last week my mind began to wander and, without wanting to add any more doom and gloom to what has been a pretty miserable start to the year, I am beginning to worry about how people are expected to meaningfully save and plan for their retirement when the job of doing so is becoming increasingly harder. The current situation reminds me of being in a room where the floor and ceiling as well as all four walls are closing in and there is nowhere to hide. The squeeze is on and if we are not careful what is already a bad situation may just get worse. Let me make my case.

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Blog post - Is it time to raise fuel duty? - Jan 2016

Jonathan Marriott, Chief Investment Officer

The fall in the oil price has reduced petrol prices at the pumps by nearly a third in the last two years. The government income from petrol and diesel sales has fallen as the VAT take is reduced. Alternative forms of energy are becoming less attractive; they reduce the pressure for more efficient use of energy and potentially lead to greater use of fossil fuels and the resulting environmental damage.

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Blog post - Extracts from an essay on ‘Value’, by Diane Coyle - Jan 2016

Extracts from an essay on ‘Value’, by Diane Coyle, part of our partnership with The School of Life

Is money the only measure of value? Of course not. Everybody knows that there are some things money can’t buy, things like love, health, contentment, that we all value profoundly. So where then is the boundary between monetary value and the unmeasurable ‘true’ value? And what of the difference between value and values? When it comes to value we are in a territory of fuzzy boundaries and deep ambiguity.

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Blog post - 2015 Year End review - Jan 2016

Jonathan Marriott, Chief Investment Officer

In 2015 returns have been hard to come by and we have seen more volatility than direction in many equity markets as positive factors were eroded by a series of difficulties. In the early months of the year the European Central Bank (ECB) started to deliver on quantitative easing measures. Subsequently the Greek crisis took them to the brink of default before being resolved. This was followed by fears of slowing growth in China and a collapse in commodity prices. The surprise UK election result passed without significantly impacting investment. Economic data in the US generally improved, however the build up to the first rate rise weighed heavily on any positive sentiment. In the event, expectations of a rate rise had been managed to such an extent that the actuality had very little impact.

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Blog post - 2015 reflections: How far can technology take us? - Dec 2015

Ben Snee, Managing Partner

Preserving wealth, looking for opportunity and navigating financial markets for our clients is what we do - this is an art as well as a science and 2015 has required even more artistry than usual!

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Blog post - Getting into the spirit of Financial Planning this Christmas... - Dec 2015

Lynsey Carson, Wealth Planner

As we enter the festive period and Christmas trees and lights start to appear, it’s often a time when many people finally get a chance to think about their own financial arrangements with the intention of getting things in order before the start of the New Year.

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Blog post - "In the back of the cab" - Dec 2015

David Lane, Partner and Business Development Technical Director

Behavioural finance, I suspect is not a subject that typically comes up with a cab driver driving through a part of the country that seemed to have an intimate meteorological relationship with Siberia. Outside was cold...very cold. But inside things were warming up as my driver ruminated on his disappointment, frustration and anger that a sure-fire investment had gone horribly wrong and that all or nearly all of his invested capital had disappeared with very little chance of ever returning.

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Blog post - The meaning of risk - Nov 2015

At a recent event, we discussed the subject of ‘Risk’. What were the biggest risks we had taken? What does risk mean to us and to our clients? Is there a difference between the perception of risk and the reality of risk?

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Blog post - What James Bond teaches us about Risk - Nov 2015

Tom Catchpole, Partner and Investment Manager

There’s a wonderful scene in, From Russia with Love, where Bond finally realises that the terribly British agent joining him in the dining car for supper is not all he appears to be. His crime? The antithesis of the gentleman’s code: ordering red wine with his fish. “Make mine a Chianti”, he extols in his affected English accent, and so lifts the petticoat on his otherwise Russian background.

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Blog post - Benchmark constraints - Nov 2015

Rohit Ahluwalia, Head of International Investment Solutions

Having worked in the wealth management industry for the last 10+ years, I have grown increasingly frustrated by the direction it seems to be moving in. My frustrations are being driven by the emphasis on shorter-term measures, such as beating the benchmark or peer group over the next quarter, as opposed to focusing on the most important goal of meeting private client objectives.

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Blog post - It all began with Homer - Oct 2015

Jenny Tozer, Partner

“It all began with Homer, 500 years BC….” That’s not your stereotypical introduction at an evening gathering of wealth managers and clients. Sitting in the serene and stunning Kallos Gallery in Davies Street London, amongst a collection of Ancient Greek and Roman art works, we were warming up to discuss the issue of legacy. I guess in a way, all that we do at Vestra Wealth is about legacy. Creating, structuring and preserving a legacy for generations to come. Or not, as the case may be for some families.

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Blog post - Letter to the Chancellor - Oct 2015

Jonathan Marriott, Chief Investment Officer

Dear Chancellor,

In 1998, the Bank of England became independent of the government, and the Monetary Policy Committee (MPC) was given a target for 2% Consumer Price Inflation (CPI). The Governor of the Bank of England is obliged to write a letter to the Chancellor if inflation moves more than 1% above or below this target.

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Blog post - "In the back of the cab" - Oct 2015

David Lane, Partner, Business Development Technical Director

In my job I do a fair amount of travelling up and down the country and as a result spend a lot of time trundling around in taxis. This can be an experience as you get to hear so many different, interesting and sometimes very strange opinions from the person upfront!

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Blog post - The eighth wonder of the world - Sep 2015

Russell Harrop, Head of International Equities

The list of Albert Einstein’s achievements is long and varied and included a fifty year struggle to disprove quantum physics. (Un?)fortunately his quest was in vain and it does seem that we are all products of semi-randomness and probabilities. I heartily recommend Walter Isaacson’s biography of Albert Einstein nonetheless.

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Blog post - Extracts from an essay on ‘Change’, by John Armstrong - Sep 2015

Extracts from an essay on ‘Change’, by John Armstrong, part of our partnership with The School of Life

We live in a culture that is always encouraging us to change. The fashion industry, for instance, thrives on rapid shifts of preferences. It has to persuade us that what was great last year isn’t much good this year. A car manufacturer wants to get us to change to their latest model. A new restaurant hopes to get us to alter our dining habits. There are many forces at play, encouraging us to feel that change is good and exciting.

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Blog post - Five ways to build a successful wealth management partnership - Sep 2015

David Scott, Founding & Senior Partner

1. Transparency
A professional adviser should be paid by the client for the service that is offered and no monies should be taken from third parties as inducements to sell their products. If any income is received, it should be rebated back to the client or used to offset any fees that may be chargeable.

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