Unfortunately this has not come to pass……..yet.Instead we are in the office getting on with one of the most important pieces of work we do behind the scenes here at Murphy Wealth.As you probably know by now we don’t put any stock in trying to outperform markets, pick investment funds or pretend to be investment managers.Investment portfolios are just one of the many tools we have at our disposal to help fufil our clients needs, rather than being the focal point.As Independent advisers we can use our investment expertise to pick “best of breed” solutions for our clients, so we can focus on spending more time with you.
Everything we do here is about helping our clients achieve their goals, rather than beating some arbitrary benchmark.
Carrying out this review is quite a job as the investment management industry in the main has not yet faced up to the changes in the advice market, so gathering the relevant information can be challenging.
Fortunately we have our latest summer intern from Glasgow Caledonian University’s Investment and Risk degree to help us collect the the data we require to carry out a full review, with the benefit of gaining some practical experience between his degree and honours years.
Regular readers will remember Ciaran as the winner of the Murphy Wealth prize for Best Performing Student in level 2.
The purpose of this review is not simply a paper exercise for something to do during the summer, it is crucial to us that we understand everything about our investment partners and their suitability for our clients.
This means looking at their company structure, the business plan, their investment process, their supporting materials and obviously their investment solutions.
We will also look at anything new that has come to our attention, which we believe will enhance what we deliver to our clients
Where necessary we will bring in the investment managers and ask them the difficult questions, if they have not met our expectations.
At the end of this process their may or may not be changes, which we will then communicate to you.
There are a number of other developments, which I hope to be able to report to you over the coming weeks.
In the meantime please feel free to give us your feedback and comments on anything we do. It is always welcome.
P.S. I know last week I promised not to mention the budget or the government again but we have had further clarification over the rules on the new property nil rate band which we have put up on our website as a Technical Brief for those who are interested.
This is not intended as advice as should not be treated as such.