Wealth & Money Management Awards 2014 by AI Global Media

Presented by

Wealth

& i

f i n a n c e

Best for Managed Portfolio Services, UK African Alpha Investment Partners Best for African Capital & Investments & Award for Innovation (African Alpha Business Angel Syndicate)

Gibraltar Private Bank & Trust Most Respected Private Bank, USA

Gary Goldberg Financial Services

Sustained Excellence in Money Management, New York

C.F. Parks & Company, Inc.

Wealth Manager of the Year, North Carolina

Goal Group

Best for Withholding Tax Reclamation

Kimco Realty Corporation

Best Real Estate Investment Trust, New York

ONE WEBSITE. OVER 100 M&A DEALS. EVERY SINGLE DAY.

wealth&moneymanagementawardstwothousand&fourteen

contents

Best for Managed Portfolio Services, UK Quilter Cheviot

Best for African Capital & Investments & Award for Innovation (African Alpha Business Angel Syndicate) African Alpha Investment Partners

Award for Innovation In Investments - Second Opinion Concept Zucker & Co

Most Respected Private Bank, USA Gibraltar Private Bank & Trust

Family Office of the Year, Missouri & Best for Family CFO Services, USA Moneta Group

Corporate Owned Insurance Specialist of the Year, Canada 2014 Shafik Hirani, Investors Group

Best Provider for Trading Templates, USA Next Level Trading

Sustained Excellence in Money Management, New York Gary Goldberg Financial Services

Best Private Bank, Luxembourg & Commitment Award for European Banking KBL European Private Bankers

Best Private Bank, Portugal Millennium bcp

Wealth Manager of the Year, North Carolina C.F. Parks & Company, Inc.

Best Family Office Service Provider, Canada Investaflex

Most Innovative Software Vendor, California Parasoft

Best Insurance Advisors, Canada Investaflex

Best Boutique Financial Planners, Canada Interconnect Financial Services, Inc.

Best Head Fund Manager, Massachusetts Bogan Associates

Best in Asset Protection for 2014, USA & Tax Planning Team of the Year, Florida ProVise Management Group

Best for Withholding Tax Reclamation Goal Group

Most Trusted Wealth Advisory Team, New York & Most Trusted Wealth Manager of 2014, USA Circle Wealth Management LLC

Alternative Investment Awards: Best Performing Global Macro Strategy - Liquid Alternatives Western Asset Management Company

Best City Firm for Complex Wealth Management Saunderson House

LBE Support Program Consultancy of the Year, USA EPIC Platforms

Best for Portfolio Diversification, USA & CTA Management Firm of the Year, USA Sunrise Capital Partners

Corporate Legal Practice of the Year, New York Curtis, Mallet-Prevost, Colt & Mosle LLP

Best for Corporate Growth Strategy, USA Richard Tyler International

Best Retirement Planning Firm, Alabama Sungard

Wealth Management Firm of the Year, New Jersey Lassus Wherley & Associates, P.C. Most Influential Company President of the Year, USA Diahann W. Lassus

Innovation in Corporate Technology: Electronic-Boardroom TMVi Solutions Technology & Marketing Ventures, Inc.

Best Private Bank, Denmark & Best Global Team: Private Banking Nordea Private Banking

Best Ontario Firm for Mortgage Solutions Tanner Financial Services

Best UK Portfolio Managers for Private Clients R C Brown

Award for Innovation in Retirement Challenges, Connecticut Nationwide Financial

Best Real Estate Investment Trust, New York Kimco Realty Corp.

Project Financing Team of the Year, Illinois Affiliated Financing, LLC

Best Research & Consulting Firm for the Financial Services Industry, USA Kehrer Bielan Research & Consulting

Best for Private Wealth Management Solutions, Switzerland BCM & Partners

Best GIPS Consulting Firm & Best for Performance Measurement The Spaulding Group

Best for Long Term Returns SCM Direct

Best Early Stage Technology Commercialisation Fund, North America Cottonwood Technology Fund

Best Labour Market Pension Fund, Europe PensionDanmark

Best Indian Bank for Wealth Management Standard Chartered

Best for Global Fixed Income Products Western Asset Management Company

Best Women-Owned Investment Advisory Firm, USA & Best Small-Mid Cap Active Equity Strategy New Amsterdam Partners

Best Regional Financial Planner, Yorkshire Pen-Life

Best Family Office of 2014, USA Matter Family Office

Best for Managed IT Services, London & South East & Award for Innovation in Tech Disaster Recovery Sentronex Customised Financial Planning Firm of the Year, Canada Caring for Clients Most Client-focused Structured Product Provider, UK Focus Structured Solutions Financial Services IT Consultants of the Year, New York Enterprise Engineering, Inc.

Best Investment Managers for Manufacturing & Distribution, UK Gemini Investment Management Limited

Best for Managed Portfolio Services, UK

QUILTER CHEVIOT Quilter Cheviot’s Managed Portfolio Service provides clients with a high level of diversification through investment in collective funds. Julian Menges and Ben Mountain, Joint Heads of the firm’s MPS, tell us more

n 2001, Quilter Cheviot became the first firm to launch a Managed Portfolio Service (MPS). Since then, its MPS has been at the forefront of development and innovation in the industry. “The success of our service is built upon an adherence to three core principles,” says Julian Menges, Joint Head of the MPS at Quilter Cheviot. “We follow a robust investment process; we deliver compelling, risk-adjusted performance; and we provide a high level of personal service. “Our substantial resource of dedicated research analysts, and an experienced investment team, is able to identify future trends and select the funds positioned to exploit them.” Quilter’s MPS, which was also one of the first to be made available via third party platforms, seeks to avoid the permeating overemphasis within the industry on short-term performance, Menges says. This allows the firm to maintain the courage of its convictions and identify value where it believes it is evident. “We pride ourselves on the quality of our reporting, the efficiency of our support services and functionality of our technology systems,” he adds. Quilter Cheviot is “delighted” to be named Best for Managed Portfolio Services, UK, says Menges.

4 | wealth&moneymanagement2014

“When clients select our MPS, they expect us to take care of their wealth. Over the past decade we have been proactive and innovative in expanding our offering to meet the evolving requirements of clients and their advisers. Our service continues to offer a client-centric investment proposition, backed by performance figures which demonstrate why we are one of the most popular choices for clients seeking a carefully managed portfolio investment solution. The award is a fantastic achievement for MPS and the firm and we are thrilled to have been recognised by the Wealth & Money Management Awards. “For us, innovation means anticipating what our clients and their intermediaries need from us. To receive an award and be recognised as a company which excels in this area is something we are proud of, and hope that the success of this particular service, which now has over £1bn invested in it is a testament to this. For the industry we hope that there will be continued tough competition to win awards for innovation as this means more satisfied clients and more success for the industry as a whole.” Quilter Cheviot’s independence – it has no ties to other financial institutions – is a vital component in its ability to provide its clients with the highest possible level of service, says Ben Mountain, MPS Joint Head. “Our independence means no conflicts of interest: our business is aligned to cater for the

unique needs of our clients and we concentrate on providing innovative and well researched investment ideas, using a full open market investment selection from all asset classes including alternatives.” It has been a busy year for the firm. In 2013, Quilter & Co. Limited successfully merged with Cheviot Asset Management Limited to become Quilter Cheviot Holdings Limited. In so doing, it has become of the largest independently owned providers of bespoke investment management with more than £15.7bn of assets under management as at 30 June 2014 and over 160 investment managers based across the UK, Jersey and Ireland. “Structurally, both firms were similar in their approach to delivering bespoke investment services to private clients,” says Menges. “The merger was very much a natural fit given that both had similar investment processes, both were independently owned and had investment managers who also function as relationship managers.” Since the merger, the company has seen net organic growth of over 10% in its first year of trading –nearly double that of its major competitors. Quilter Cheviot is rapidly growing its funds under management and continues to strengthen its links with financial advisers, private clients and charitable trusts.

The merger last year presented challenges, says Mountain. “Bringing two businesses together to form a firm that is a powerful business in the market place, fully equipped, well-placed and of a scale to take advantage of the significant opportunities that lie ahead is not an easy task. “Building on the shared culture and success of both firms, the goal we set ourselves was to create a single firm as quickly and effectively as possible. This involved balancing the need to merge areas with a willingness to maintain the best that both firms have to offer. To tackle this problem we put together working groups comprising representatives from both businesses to look at the key integration questions and to ensure we the integration was effective. For example, working groups on platform, systems and operations, brand and marketing strategy, remuneration, investment process, real estate, clients and intermediaries and Liverpool office integration were formed. “The structure was supported by a pragmatic approach to managing planning and risks and making the necessary decisions to deliver our goals. A Steering Committee of senior staff from both firms, chaired by Quilter Cheviot’s CEO, met every two weeks and reviewed the recommendations from the working groups, reported to the Board, and directed the overall integration, supported by a central team with the tools necessary to ensure the planning and delivery was managed effectively. “Everyone had a role to play as our businesses integrated and our joint resources have enabled us to focus on the development and enhancement of our client proposition and offering a highly personal service in an increasingly competitive market where our clients’ expectations grow daily.” Critical to the ongoing success of Quilter Cheviot is the pursuit of a common investment philosophy, says Mountain. “The firm is a strong advocate of active investment management, both in terms of strategic asset allocation and security selection and guards against building a permanent bias to any single investment style. Both top-down macroeconomic and market analysis and bottom-up stock recommendation from the in-house analyst team are employed. “The investment professionals on Quilter Cheviot’s teams have worked together for many years and bring a variety of strengths to our collective investment process. We believe that this differentiates us from many of our competitors who adopt a centralised investment model, drawing on a limited number of opinions and views to create their investment strategies.”

wealth&moneymanagement2014 | 5

“We believe this combination of innovative, independent thinking backed up by a well-resourced and structured research process has helped us to maintain a consistently effective track record of providing long-term returns via our client portfolios,” he says. “It is always a risk to change your brand but we think it has made Quilter Cheviot stand out in the investment market.” Quilter Cheviot’s business ethos is one of personal service – and this is demonstrated in the long-standing relationships the firm has developed with clients and financial intermediaries. “We offer clients a well-managed and professional investment approach with a commitment to a high level of on-going service,” Mountain says. “We innovate constantly and steadily, adapting and refining our service in line with client and market requirements. The merger of Quilter and Cheviot has allowed us a unique opportunity to assess the best of both the former Quilter and Cheviot client offerings, taking the best of both worlds to deliver a first class client service. “From providing consistently high levels of personal service to maintaining long-standing relationships, continuity is imperative for our business. We have defined our market position more clearly and have developed not only our marketing material including our website and brochures, but also, our reporting, client application forms, systems and administration, to improve the client experience. “Our new brand materials provide a consistent look and feel and messages that form part of every client experience, from simply knowing who we are and what we do, through to a positive experience, to loyalty and advocacy. “It is vital to keep our clients and their advisers informed and we produce regular, clearly written, jargon-free reporting documentation. We intend to become the industry leader in reporting, setting standards our competitors aspire to match. All reporting and the online access portal have been updated to be transparent and easy to read and to reflect the Quilter Cheviot brand. We always endeavour to enhance existing service and have been at the forefront of improving the quality of documentation that clients receive.

6 | wealth&moneymanagement2014

“

We innovate constantly and steadily, adapting and refining our service in line with client and market requirements

“

Quilter Cheviot’s dedicated research team supplements its internal research process through meetings with management teams, helping to maintain awareness both at the individual company level and industry-wide level, says Mountain.

“Our new half-year and year-end investment summaries are informative and easy to read and clients are pleased with the clarity they provide. Every six months we prepare a comprehensive summary which includes a portfolio valuation, performance report, transaction schedule, capital and income statements and market commentary. Ad-hoc reports are also available upon request. A year-end pack is provided, comprising a consolidated tax certificate, valuation, transaction schedule and capital gains tax report. “Key to our on-going success is the continued development of and enhancements to our operating and investment platforms. For example, we have launched an app, available on the Apple App Store, that enables clients and advisers to view portfolio valuations, asset allocations and cash statements across their portfolios on their mobile devices. “At Quilter Cheviot, we continue to question the market and explore ways to help us maintain our reputation and position.” Quilter Cheviot is run in a collegiate way, where communication is key, says Mountain. “The best ideas do not always come from the boardroom, and we continually listen to feedback from clients, intermediaries and staff in the business to ensure that decision making is based on a rounded view. This in turn helps when we are implementing change as we are able to communicate the rationale for change to all parties in a clear and rational way. Focusing people on common goals often helps and this is made easier when there is a clear vision that staff relate to. At Quilter Cheviot, we strive to create an environment where two way communication can nourish.” Looking toward the future, having a degree of scalability will be vital for businesses in Quilter Cheviot’s industry, says Menges. “Firms that have the ability to scale their platform and technology, have a good management team and can deliver proper service and investment process will be the winners.”

Contact name: Julian Menges/Ben Mountain Email: julian.menges@quiltercheviot.com/ben. mountain@quiltercheviot.com Tel: 020 7150 4229 / 020 7150 4565 Web: www.quiltercheviot.com Address: One Kingsway, London, WC2B 6AN

Preserve and grow wealth across generations Turcan Connell Asset Management combines the expertise of our Financial Planning and Investment Management teams, covering all aspects of wealth structuring and wealth management. With offices in Edinburgh, Glasgow and London we work in tandem with our legal and tax colleagues in the Turcan Connell Group. We believe strongly in the integration of our core specialisms and the resultant benefits for our clients. Whether you require our full suite of services, or simply one aspect, our flexible and tailored approach is designed to suit each clientâ&#x20AC;&#x2122;s individual needs. We believe that taking a long-term view is a fundamental component of wealth management, and our success in building enduring relationships is based on a real desire to see things from each clientâ&#x20AC;&#x2122;s perspective. Contact our experts today.

Edinburgh

Glasgow

London

Princes Exchange, 1 Earl Grey Street, Edinburgh EH3 9EE Tel: 0131 228 8111 Sutherland House, 149 St Vincent Street, Glasgow G2 5NW Tel: 0141 441 2111 Follow us on Twitter @TC_Wealth enquiries@turcanconnell.com www.turcanconnell.com Turcan Connell Asset Management Limited is authorised and regulated by the Financial Conduct Authority. Turcan Connell is a Partnership of Scottish Solicitors regulated by The Law Society of Scotland.

Best for African Capital & Investments & Award for Innovation (African Alpha Business Angel Syndicate)

AFRICAN AFRICAN ALPHA ALPHA INVESTMENT INVESTMENT PARTNERS PARTNERS Africa is fast approaching an economic tipping point, with a young and increasingly urbanised population driving astonishing growth. African Alpha Investment Partners was formed to act as a conduit between exciting business opportunities on the ground and foreign capital and the investment capital so sorely needed. We spoke to Rupert Boyd, one of the firm’s Founding Partners, to find out more

frican Alpha Investment Partners (AAIP), which is based in London, was established to help bring investment opportunities and Investors together across Africa, facilitating the supply and demand for capital across the continent. The firm, which has been named Best for African Capital & Investments, is, says Rupert Boyd, a bridge between projects and businesses in Africa and international capital. “The world has become much more aware of the opportunities in Africa but the practicalities of investing remain a significant challenge. Stock and Bond markets are, in most cases, still developing and are not easy for international investors to access and trade. Private equity is the dominant Investment strategy but while a lot of money has been raised by funds, much less has actually been invested and there are significant question marks around the approach. “The best opportunities are often to be found in deals that are a bit smaller than where the heavyweight PE companies fight it out.” The African Alpha Business Angel Syndicate (AABAS), one of AAIP’s ventures, was created to aggregate high net worth investors into a single investment vehicle allowing them access to institutional sized deals, while giving African projects and companies access to a unique set of investors. AABAS – for which AAIP has won the Investments Award for Innovation in this year’s Wealth & Money Management Awards – is “a cost-effective way of investing,” says Boyd, “as it doesn’t charge the

8 | wealth&moneymanagement2014

large fees associated with private equity. In fact there is no charge to joining the syndicate at all and the minimal running costs are shared amongst those that actually invest in one of the transactions. To join AABAS, investors must show that they are high net worth investors, which technically means they have to have net assets of more than £250,000. Once invested, individuals can be as involved, or uninvolved, as they wish, but they know African Alpha is aligned as a co-investor and is looking after it on their behalf. “It’s an alternative to giving discretion to a fund manager. With AABAS, the investor retains control over each investment if they want it but at the same time know that African Alpha is aligned and watching it on your behalf,” he says. It’s a unique idea which, in a sense, gives the investor the best of both worlds, and although commonly used in the UK and other developed markets it is a concept that has not, Boyd thinks, been previously applied to Africa. One advantage for the members is that they can pick and choose which transactions brought to the syndicate they want to invest in. Once an investor has joined the syndicate, they get to see everything and decide for themselves which deals they like. “Our members are smart people, by definition they have been successful and they often they have strong views and know what they like. The syndicate provides them with a stream of rigorously-selected transactions, that they may or may not wish to invest in. The advantage is that they know AAIP is focused on the investment if they don’t have the time or the interest. This flexibility is in marked

contrast to the kind of ‘blind pool’ approach of most asset management approaches. AAIP’s philosophy is built on rigorous deal selection, fairness to both sides and alignment with Investors. To this end the firm will only offer investment opportunities to the Angel Syndicate if it is willing to invest its own money alongside them.” Another element to AAIP, which is regulated by the Financial Services Authority, is its corporate finance and advisory practice. This largely involves advising African governments and companies on raising capital, structuring businesses and private placements AAIP’s other business is a Mauritius-based joint venture providing insurance-based risk management solutions both within Africa and externally. The firm’s two partners both have a long standing association with Africa – “it’s in my blood,” says Boyd, whose family farmed in East Africa, and who travelled around the continent for 18 months after attending the University of Cape Town. On his return to the UK he joined Citibank as a trainee before spending 17 years in emerging market finance at Morgan Stanley. In 2003 he moved to Standard Bank, where he met fellow AAIP Founder, Brad Koen, a 20-year veteran of the African Bank, who had built the groups markets business, initially in South Africa and then globally, into close to a US$2bn business. Brad went on to set up the group’s sector-based investment banking coverage teams. AAIP, Boyd says, was born from a sense of frustration: both he and Koen felt that working in a

big bank was too slow at a time when Africa was beginning a period of rapid growth. “Africa was starting to open up, but we were being limited in terms of what we could do,” he says. “Imagine having a company where all the debt is wiped out, and at the same time the prices of its products go through the roof – Africa was like that.” Its partners’ experience of the continent makes AAIP stand out from its competitors, says Boyd. “You really need to understand Africa, its idiosyncrasies,” he says. “Although we will never stop learning, there is no doubt that having done business in the region for so long we hope to avoid many of the pitfalls newer entrants to the region often fall into.” AAIP is very picky in its deal selection, says Boyd. “We’re not in a rush to do anything.” It’s an approach which differs from that taken by many private equity firms, which are often under pressure to deploy money – and then, often in Africa, things take a long time and as the company finally starts to grow, they have to pull out if they are nearing the end of a fund life. “Private equity is not necessarily a great strategy for Africa,” he says. AAIP is active in a number of Sub Saharan countries including Sierra Leone, Cameroon, Mozambique and, of course, Nigeria, which has recently overtaken South Africa as the continent’s largest economy, while economic development may sometimes seem to be making painful and slow process, Boyd says. “When you put the progress over the last 10

years in the context of the last 50, the changes have been dramatic. Urbanisation and an extraordinary demographic profile are driving the creation and rapid growth of a consuming class. In addition, structural reform, including reforms to pensions, insurance and power is ensuring sustainability. The continent’s economic growth has been unleashed,” he says. Nations recovering from conflict – including Mozambique, Angola and Sierra Leone – as well as Zambia and countries of Francophone Africa also fall within AAIP’s remit, says Boyd. He feels that often the benefit of a “late start” is an advantage for investors. The best example of this, he says, is in telecoms, where African countries have bypassed the need to build out expensive fixed line infrastructure and where the developments in cellular technology have allowed the development of a whole range of new services bringing people together and spurring innovations like the use of airtime as a medium of exchange, disintermediating a traditional role of banks. Other opportunities, Boyd says, lie in financial services, construction, agriculture, mining, oil and gas and consumer goods, adding that the “sweet spot” for deals in Africa is US$5-25m. That’s a smaller ticket size than elsewhere in the world, and is below the radar of a lot of the big private equity companies. On AAIP being recognised twice in the Wealth & Money Management Awards, Boyd says, “We’re delighted. It’s never easy to start and build a busi-

ness, and these awards are a nice recognition of all of the hard work that has been put in by the team” The firm’s success comes after 24 months of hard work helping its clients find fantastic opportunities in Africa – and always with a social conscience. Boyd says that any deal the firm is involved in must have advantages for the local population. “Fundamental to our philosophy is that everyone benefits on the ground,” he says. “For example, a number of the transactions have been in the power sector where AAIP and its investors money have been investing profitably in power generation, helping to provide electricity to households and business.” Structuring transactions involves a consultative approach with both the company and the investor, ensuring that a fair balance is struck between the two, he says. “Our view is this: we work with people who have worked hard to build their business. We might spend two years or more getting to know a company. We’re not under pressure to do deals. “The deals have got to be good for everyone,” he says.

Contact name: Rupert Boyd Email: rupert.boyd@africanalphaip.com Web: www.africanalphaip.com Address: 14 Cork Street, London W1S 3NS

wealth&moneymanagement2014 | 9

Most Respected Private Bank, USA

GIBRALTAR GIBRALTAR PRIVATE PRIVATE BANK BANK & &TRUST TRUST Having served as a trusted advisor for two decades, Gibraltar Private Bank & Trust has one overriding philosophy: preservation of client portfolios. William VanDresser, Executive Vice President and Wealth Management Managing Director, tells us more

ounded in 1994, Gibraltar Private Bank & Trust provides concierge banking, lending and wealth management to successful individuals, families, businesses, foundations and nonprofits, with US$1.6bn in assets and US$900m assets under advisement. The bank’s investment philosophy, says William VanDresser, Executive Vice President and Wealth Management Managing Director, is simple: preservation of our clients’ wealth through diversification and growth of capital. Serving professionals and their firms, executives, entrepreneurs, and high net worth individuals and their families, foundations and non-profit organisations, Gibraltar Private Bank & Trust fulfills the role of a truly trusted financial advisor. “Most of our clients have already earned their money,” says VanDresser. “They rely on Gibraltar Private to ensure we manage, preserve and build their wealth.” At the core of Gibraltar Private’s wealth management approach lies a unique planning experience designed to help clients better understand the purpose of their wealth and clarify personal objectives. A holistic planning approach takes a 360-degree look at the client’s personal

10 | wealth&moneymanagement2014

and financial circumstances, which Gibraltar Private sees as inseparable. Led by an experienced client wealth advisor, Gibraltar Private’s process is designed to involve wealth planning and investment experts, as well as the clients’ own legal and accounting professionals, to proactively implement a dynamic action plan in this constantly evolving environment. A good private bank should understand its clients’ financial needs, says VanDresser, and its staff should have a broad knowledge base. “It should make sure that the client has a wealth plan in place,” he says.

Serving as a trusted advisor, Gibraltar Private Bank & Trust takes pride in the deep relationships it forges with successful individuals and their families. On being named Most Respected Private Bank, USA in the Wealth & Money Management Awards, VanDresser says Gibraltar was honored and appreciative of the acknowledgement. Gibraltar Private world-class banking and advisory service centres are located in New York and Florida.

The size of Gibraltar Private Bank & Trust, says VanDresser, is advantageous. “Gibraltar Private Bank & Trust is nimble and flexible enough to provide customized financial solutions to our clients, while maintaining and providing a high level of personalized customer service.” In addition to its wealth advisory services, Gibraltar Private Bank & Trust offers a number of other services: banking and lending to professionals and their firms; investment management and trust services; owner occupied commercial real estate lending; jumbo residential lending; and custom residential construction lending.

Contact name: William VanDresser Tel: +1 305 476 1982 Web: www.gibraltarprivate.com Address: 55 Alhambra Plaza Coral Gables, Florida 33134 USA

â&#x20AC;&#x153;

Gibraltar Private Bank & Trust is nimble and flexible enough to provide customized financial solutions to our clients, while maintaining and providing a high level of personalized customer service.

â&#x20AC;&#x153; wealth&moneymanagement2014 | 11

Corporate-Owned Insurance Specialist of the Year, Canada 2014

SHAFIK HIRANI, INVESTORS GROUP Wealth and Finance is pleased to announce that Shafik Hirani, of Investors Group, has been named Corporate Owned Insurance Specialist of the Year, Canada in the Wealth & Money Management Awards 2014. We took a look at Hirani’s journey to success – A True Rags to Riches Story

Chartered Financial Planning Designation (CFP), Branch Managers Designation, and Chartered Life Underwriters Designation (Specializing in Small Business Owner Tax Strategies). Shafik is a Level II CFA Candidate.

obody knows poverty like a new immigrant to Canada. It was 1972 when Shafik Hirani’s family arrived in Canada. They were refugees from the political strife in East Africa which sent Ismaili Muslims fleeing to England and Canada.

Investors Group is a part of IGM Financial, and a member of the Power Financial Corporation group of companies, one of Canada’s largest and most respected companies. At Investors Group, clients’ investment portfolios benefit from the knowledge and expertise of the group’s world-class roster of money management professionals. Winners of 19 Lipper Awards, and strategically located across the globe in Dublin, Hong Kong, Toronto, Montreal and Winnipeg, Investors Group’s portfolio managers offer a vast array of experience and knowledge.

“We had never even seen snow before. To say we were broke would be an understatement” says Hirani. “We moved to subsidised housing in the slums of Scarborough, Ontario. If you were broke, you lived on the ground floor. We lived in a box in the sub-ground basement floor where the janitors and maintenance staff stored supplies. But my parents had incredible values. They continued their education, both becoming chartered accountants. They instilled in me the value of education, hard work, humility and integrity.”

Its talented team of portfolio managers and investment analysts conduct research and interact face to face with the companies and the corporate leaders who drive and shape the economy – around the clock and around the world.

Getting transferred around a lot, Hirani lived out of suitcases, moving from Toronto to a farm in Fort-Saskatchewan and eventually settling in Calgary. He completed bachelor’s degrees at the University of Calgary (Commerce with Finance concentration combined with a minor in Science (Psychology - Neuropsychology). After joining Investors Group in 1995, Shafik was successful right out of the gate, winning the Rookie of The Year Award in 1996. His parents had instilled a desire of continuing education as Shafik completed his Canadian Securities Course (CSC), Canadian Investment Funds Course (IFIC),

12 | wealth&moneymanagement2014

Hirani, pictured above, is consistently ranked in the top five out of Investors Group’s 4,500-plus financial advisors

In addition to being named Corporate Owned Insurance Specialist of the Year, Canada by Wealth & Finance magazine, Hirani has had a number of accomplishments in the Canadian Financial Services industry, including the National Manager of the Year for his firm for 2005, 2006, 2007, 2008, 2009, 2010, 2011 and 2012 (an impressive achievement, considering the firm has 500 branch managers). Shafik is constantly in the top five out

“

Hirani is ranked as “CANADA’S TOP 50 FINANCIAL ADVISORS” by Wealth Professional Magazine

“

of his company’s 4,500-plus financial advisors. He is a recipient of Calgary’s Top 40 under 40 awards and this year won Wealth Professional Magazines Top 50 Financial Advisor for 2014. Logging more than 100 speaking engagements per year, Hirani speaks to corporations and businesses about the psychology of wealth and little-known investment strategies for wealth creation. His seminars have been noted as “insightful, entertaining, illuminating and refreshing” by publications such as the Calgary Herald, Global TV, Go Magazine and the Canadian Association for Financial Planners. Hirani is often called on by the media as an authority on financial matters and is a regular guest host on TV shows such as BNN, CTV’s Alberta Primetime News, Global TV’s Energy-TV and CBC’s Alberta@noon. On a personal note, Hirani is married to Beth and they have one beautiful boy, Avery. He founded The Hirani Foundation for Charitable Giving which provides grants to Alberta Charities in need. In his spare time Shafik teaches Portfolio Management Techniques to Students at Mount Royal University.

Contact name: Shafik Hirani, Division Director and Senior Executive Financial Advisor Email: shafik.Hirani@investorsgroup.com Tel: +1 403 284 0494 Web: www.shafikhirani.com Address: Suite 800, Dome Tower, 333 7th Ave SW, Calgary, AB T2P 2Z1 Canada

wealth&moneymanagement2014 | 13

Sustained Excellence in Money Management, New York

GARY GOLDBERG FINANCIAL SERVICES Since 1972, Gary Goldberg Financial Services has helped thousands of investors achieve their retirement goals. Oliver Pursche, President, tells us more about the company and its philosophy

ary Goldberg Financial Services is a boutique money management firm dedicated to serving individual investor’s needs. Since its founding in 1972, the firm has helped thousands of investors achieve their retirement goals. Its investment process is designed and implemented by its Strategic Investment Committee, whose five members have over 140 years of investment management experience. Being recognised for Sustained Excellence in Money Management in New York by the Wealth & Money Management Awards was a proud moment for the firm, says Oliver Pursche, President. “It brought a smile to my face, because although we have received lots of high profile accolades, being told that you are achieving good results consistently is more worthy.” The firm’s success in the Wealth & Money Management Awards, Pursche says, comes down to a number of factors. Results come from adhering rigorously and consistently to a well-established process, as well as maintaining strong client relationships, he says. “We never sit on our hands – we’re always looking to move forward. Always looking for

14 | wealth&moneymanagement2014

ways to improve, re-examining results and looking for areas where improvements can be made.” Pursche is a member of Gary Goldberg’s Executive Committee, Investment Committee and Board of Directors. Tri-lingual (he is fluent in German and French), he has 20 years of industry experience. In addition to regular TV appearances on Fox Business News and CNBC, he writes weekly columns for The Wall Street Journal: Market Watch, TheStreet. com, and Forbes.com. He’s also written a book, Immigrants: Unleashing the Economic Force at our Door, which looks at the flaws is US immigration policy and proposes ways to reduce short-term and long-term unemployment trends in the America, relieve some of the financial pressure on the nation’s Social Security administration and increase entrepreneurism and capital flows.

als – people that have worked hard all of their lives to build up a significant retirement income. “It is essential that these people, who have given so much of themselves through their lives can now maximise a return on their investments as they move into later life. They ask, ‘do I have enough cash?’ and we ensure that they do.” Gary Goldberg is not a financial planning firm, says Pursche, but it does give people an idea about what is best for planning for their financial future, by introducing to them to the best investment processes, in the best way possible. “Our goal is to get as close to, to hit and wherever possible in a responsible manner help clients exceed the discussed and agreed targets and respond to the results of them to better align future returns with ambitions.”

With such a busy schedule, it’s no surprise that Pursche is at his desk, every morning, by 6am.

Over the last five years, Gary Goldberg has exceeded its targets consistently, Pursche says.

Pursche says Gary Goldberg Financial Services’ money management strategy focuses on the mass affluent, as opposed to the high net worth individu-

“There’s a need to explain to clients that returns are heavily driven by market conditions, which cannot be actively changed but can be monitored, responded to

and, through the utilisation of skills and experience, optimised whether bad or good conditions are dominating. “For example: if we set a general returns target of 8%, 4% of that alone will come from capital appreciation (the remainder from dividends). If the S&P 500 is performing well and rising, then to achieve that is relatively easy. However, the struggles come if the market is not performing well, and this needs to be explained to the clients.” “It can be too easy to constantly strive for constant success – but that is not what the money management process is all about. “It is not so much a question of being risk averse as it is being risk appropriate. Over time, though, the appetite for risk can increase with some clients. Being averse to it diminishes, and this is where the true value of the expert provider comes in. “This is why communicating with the clients is so vital, and one of the most important aspects to get right as a firm. “Our investment services are purely focused on the client relationship and ensuring that discussions are as productive as possible. Our investment consultants are the advisors on the market conditions and what strategies, plans and process will work well. And our management oversees the structure process and offers advice and guidance as is necessary for the betterment of the client portfolios, the staff and the business.” The past year has seen the firm grow, says Pursche, both in terms of assets, staff and geographic locations (a new office in Long Island is soon to open, along with one other new location) which will bring the firm in touch with a hitherto untapped, and therefore unsupported, client base in need of appropriate planning for their future.

As an example, Pursche points to the recent Scottish referendum on independence. “If Scotland had voted Yes and succeeded, it would have affected all markets globally. While we only hold two firms (investments) based in the UK, a Yes vote could have had a more reaching impact. You have to evaluate the situation and determine how long the impact is likely to last, not just what the impact will be.” “The FTSE would have fallen, but only by around 2-4% and the fundamentals would soon have seen this recover, as they would on a global level. “People hyped it all up too much. Emotions only look at the short term. While the No vote was certainly better for the markets as a whole, the impact would not have been as bad as some had feared, and would certainly have recovered.” Gary Goldberg Financial Services’ overriding philosophy, says Pursche, is this: Employees first, clients first. “The staff support the clients, so it is essential that they’re treated equally.” Client feedback is very important, he says – particularly when it helps the firm to understand client worries. “Every client is different and perceives their money management differently, so understanding what is best for the client is the most important thing. Clients are naturally emotionally involved; it is a natural response for all of us and the role of the professional is to bring an emotional detachment to the relationship, allowing for decisions to be made better, be better informed and find the best route for the client.” There’s a need to meet clients’ needs and ensure the best chance of maximised returns – exceeding them if possible, says Pursche. “I just want to help my clients sleep well at night. I am more excited about what I can do for our clients. It is what gets me up in the morning.”

The firm has also introduced new portfolios offering the best solutions to its clients, based on their needs, he adds. Main factors affecting firms in the wealth and money management arena, says Pursche, include market ups and downs and the need to work with what you have and optimise those aspects, rather than get stalled by factors which are beyond your control. “You need to look for opportunities out there that others do not see,” he says. This requires an acceptance that you are not always right. It is important to understand that things will not always go according to plan, a strong process and constant re-evaluation will help minimize the damage.”

Contact name: Oliver Pursche Email: info@garygoldberg.com Tel: +1 800 433 0323 Web: www.ggfs.com Address: 75 Montebello Road Suffern, NY 10901 USA

wealth&moneymanagement2014 | 15

Wealth Manager of the Year, North Carolina

C.F. C.F. PARKS PARKS & & COMPANY, COMPANY, INC. INC. With a team of professionals dedicated to exceeding its clients’ expectations, C.F. Parks & Company has earned a reputation as a trusted partner. Charles F. Parks, President and CEO, tells us more

The firm caters to those concerned about their financial plans, and focuses on wealth management, financial services and business consulting. The firm also has extensive experience providing personal financial planning, business management, and tax services to high-net-worth individuals and their families, as well as to business owners. C.F. Parks’ approach to wealth management is based on a comprehensive process which is designed to manage its clients’ financial lives and create a long-term plan customized to their specific needs. With a team of professionals dedicated to exceeding its clients’ expectations, C.F. Parks & Company has earned a reputation as a trusted partner. The firm provides excellent services designed to allow clients to rest easy with the knowledge that the complex details are in the hands of their trusted advisor. The process starts with accumulation, or how to grow the client’s assets. Next is retirement planning: how to target distribution of the client’s assets in a tax-advantaged way. Estate planning and how to preserve the client’s assets, is also taken into account, as is risk management, which looks at how to protect the client’s assets. Then there’s business planning – how the client can grow and manage their business – and how they can minimize their tax burden.

16 | wealth&moneymanagement2014

“Our business model appeals to people who are very successful, extremely busy and want their financial life coordinated,” says Charles F. Parks, President and CEO. “They want confidence in their financial future. Our specialties are designing plans that reflect client success and to make life easy by doing the implementation legwork.” Parks, who has more than 31 years of experience in the wealth management and business consultant industries, has been recognized throughout the US for his achievements and expertise in investment management and advanced financial planning, with executive experience in corporate management and finance. He has been quoted and featured in local and

“

Our business model appeals to people who are very successful, extremely busy and want their financial life coordinated

“

.F. Parks & Company, Inc. is a boutique wealth management firm that focuses on providing the highest level of service to its clients, with a stated goal to “help simplify and enrich your life”.

national newspapers, magazines including Forbes, receiving numerous awards for his work. C.F. Parks & Company’s Team are experts in financial planning, investment management, taxes, accounting and business management. The firm’s clients are diverse, ranging from NASCAR teams, drivers and crew chiefs to small business owners and retirees. The firm takes great pride in offering nontraditional services too, says Parks, for example when it conducted research for a NASCAR team and potential sponsor providing an analysis of the background of the owners and the company finances. “After 31 years in this field, we know where to go to get answers.” Upon receiving the 2014 Wealth Manager of the Year Award, Charles accepted by saying, “It is a great honor to be part of the prestigious list of this year’s Award-Winning Wealth Managers. I have been in this field for over 31 years and take great pride in providing our clients with Class A, Concierge-Type Services to coordinate their financial lives.”

Contact name: Stephanie Parks Email: stephanie@cfparks.com Tel: +1 704 637 6011 Web: www.cfparks.com Address: 1932 South Main Street Salisbury, NC 28144 USA

wealth&moneymanagement2014 | 17

Most Innovative Software Vendor, California

PARASOFT

Founded in California in 1987, Parasoft researches and develops software solutions which help organisations deliver defect-free software. Wayne Ariola, Chief Strategy Officer for Parasoft, tells us how the company is helping the financial industry function securely and efficiently

he financial industry depends on the ability to deliver private, secure, reliable transactions in order to enable the buying and selling of financial assets. Without this infrastructure in place, our industry comes to a crawl. For 27 years, Parasoft has researched and developed software solutions that help organisations deliver defect-free software efficiently. By integrating development testing, API testing, and service virtualisation, we reduce the time, effort, and cost of delivering secure, reliable, and compliant software. Parasoft’s enterprise and embedded development solutions are the industry’s most comprehensive – including static analysis, unit testing, requirements traceability, functional & load testing, dev/test environment management,

“

and more. The majority of Fortune 500 companies rely on Parasoft in order to produce top-quality software consistently and efficiently. Over the past year, Parasoft has seen more and more businesses adopt service virtualisation and API testing to innovate through software faster, and with lower risk. Just as the aerospace industry uses complex simulation to understand the aerodynamic properties of new prototypes, Parasoft service virtualisation’s test environment simulation provides our industry an infrastructure that simulates the massive array of transactions necessary for a financial institution to support the extended community. This enables rapid development and testing processes.

Furthermore, the underlying architecture associated with our industry transacts primarily on a machine-to-machine basis over myriad communica tion protocols and structured message payloads. Ultimately, more and more leading organisations are finding that an enterprise-grade solution for hardening GUI-less back-end services is now a “must have” for ensuring the security, reliability, and performance of critical transactions. That’s why we’re experiencing a surge of interest in Parasoft’s API testing solution, which was built from the ground up for this type of testing. Our creativity is the driving force that has allowed us to introduce so many technologies that really changed the industry’s approach to quality over

Our creativity is the driving force that has allowed us to introduce so many technologies that really changed the industry’s approach to quality over the past 27 years

“

18 | wealth&moneymanagement2014

the past 27 years. Parasoft’s mission is to help organisations prevent software defects, which is essential for delivering secure, reliable, and compliant software efficiently. For modern application development, giving our clients access to simulated test environments is a critical part of that mission. With Service Virtualisation enabling teams to start testing earlier, organisations prevent defects from surfacing later in the SDLC. This approach is perfectly aligned with Parasoft’s Development Testing Platform: Service Virtualisation allows organisations to “shift left” their testing efforts and Development Testing actually reduces the amount of defects that are injected into the software. Ultimately, this results in significantly faster time to market with better-quality deliverables. Looking toward the future, as software increasingly serves as the interface to the business, organisations and individuals are interacting with more – and more intertwined – systems as they conduct their daily business. One of the greatest challenges will be ensuring that these systems can still deliver the expected level of the privacy, security, functionality, and performance in light of this growing complexity. We’ve found that eliminating defects as early as possible in the SDLC is critical to achieving this goal. This is where Parasoft Development Testing Platform (DTP) and Process Intelligence Engine (PIE) come into play. Parasoft DTP allows organisations to collect millions of observations throughout the SDLC and apply advanced analysis techniques to identify business risks and reduce the costs associated with software failures. PIE aggregates

and analyses information throughout the SDLC to identify business risks early and automatically.

within transaction-critical environments such as the financial marketplaces.

It delivers an actionable list of findings that are prioritised according to the organisation’s policies. Quality data is contributed by multiple tools throughout all phases of a delivery cycle; PIE not only serves as a central repository for this information, but also introduces business intelligence for the SDLC. Leveraging PIE, organisations identify business risks across tools, time, and teams, which allows them to discover risks and opportunities that humans would most likely overlook.

We commend the Wealth & Money Management awards for recognising the broader community that supports the financial industry. Far too often, supporting players such as software providers are overlooked in regards to enabling the transaction-critical processes that support our industry.

As our industry continues to differentiate services and products through software, we realise that rapid innovation requires Continuous Testing. Continuous Testing provides a real-time, objective assessment of the business risks associated with an application under development. Applied uniformly, Continuous Testing allows both business and technical managers to make better trade-off decisions between release scope, time, and quality. Generally speaking, Continuous Testing is NOT simply more test automation. Rather, it is the reassessment of software quality practices – driven by an organisation’s cost of quality and balanced for speed and agility. Ultimately, Continuous Testing can provide a quantitative assessment of risk and produce actionable tasks that will help mitigate these risks before progressing to the next stage of the SDLC. We are pleased that the Wealth & Money Management Awards recognises that enterprise grade tools are required for ensuring process efficacy

Parasoft’s co-founder Adam Kolawa firmly believed that the most productive means of delivering software is to prevent defects prior to testing. Although this approach requires an upfront commitment by Development to abide by predefined policies, the outcome is secure, reliable, compliant code that allows a complex transaction to occur with great resiliency.

Contact name: Erika Barron Email: erika.barron@parasoft.com Tel: +1 888 305 0041 Web: www.parasoft.com Address: 101 E. Huntington Drive, Monrovia, CA 91016 USA

wealth&moneymanagement2014 | 19

Best Boutique Financial Planners, Canada

INTERCONNECT INTERCONNECT FINANCIAL FINANCIAL SERVICES, SERVICES, INC. INC. Interconnect Financial Services is an independent financial planning company associated with Manulife Securities Incorporated. Bryan Sommer, Financial Planner, tells us how the firm’s client-focused approach has been helping people through retirement for over 30 years

“My father founded this company in 1981 and it was great to see how proud he was when he heard the news. There is a wide array of financial planning businesses out there and it can be hard for people to know the differences between them, so it is nice to be differentiated as the best in our category.

“

service gap between a typical financial planner and an accountant, allowing us to provide more comprehensive tax planning. As many baby-boomers are money conscious, they find significant benefit utilising our services. The cost is essentially the same as other financial planners, however clients receive significant additional tax planning advice and direction; ultimately allowing them to keep more money in their pockets.” Interconnect’s most common clients are business owners, whether they are in their growth phase, nearing retirement or in retirement. These clients rely on the firm to help them with tax-efficient accumulation plans, business succession and

taxes for clients we do provide additional value using our systematic planning approach. We use a Financial Vision process that brings our clients objectives to the surface so we can work with them to make sure their goals have been met, in a customised plan, which allows them to focus on enjoying their life. We’ve found this more dynamic financial planning approach to be stronger than charging clients for a 30 page financial plan and then sending them on their way to execute it.” Over the past year, Interconnect has strengthened its team in order to remain accountable to its clients with the high level of service they’ve come to expect. “Also, as part of our give-back legacy

“

eing named the Best Boutique Financial Planners in Canada was an honour, says Bryan Sommer, Financial Planner at Interconnect Financial Services Inc. “Earlier this year we were voted best Financial Planners in our community (South Surrey and White Rock), so to win this award nationally was quite a privilege.”

It’s all about our clients. Everything we do at Interconnect is customised to their unique needs

“It’s all about our clients. Everything we do at Interconnect is customised to their unique needs,” says Sommer.

retirement planning; when clients are set up properly from a tax perspective the firm initiates its investment plan and later its estate plan.

“We also feel that partnering with a dealership like Manulife Securities Incorporated has given us a great advantage because it allows us to work in our clients best interest, as fully independent financial planners, but still have the support of a highly trusted and well respected company.

Although we work with a number of different types of clients, from controllers to engineers and property owners to doctors, we seem to work most frequently with business owners in their growth phase and nearing retirement,” Sommer says.

we’ve created a free financial literacy app for kids called Pogo Pig Savings, available on iTunes, which helps kids learn self-control and financial saving. A long-term study by Duke University has shown that a child’s financial success can be determined as early as three by looking at self-control alone, so we wanted to create something to assists kids at an early age, increasing their likelihood of financial success.”

“As a designated accountant, the most substantial value in terms of tax savings is added to these types of clients, so naturally we tend to attract more of them. Aside from saving extra money in

As a continuation of the Pogo Pig Savings app, Interconnect is soon to release a children’s book, called Pogo Pig Learns about Goal Setting. The book will teach kids how to set goals and save

“I’ve been told by our clients that one of our other unique advantages is my background as a chartered accountant. This has helped us fill the

20 | wealth&moneymanagement2014

money for these goals, empowering them to feel like they can achieve anything they want in life. “I studied this concept in the Entrepreneurship program at the University of Victoria and found it had such a great impact in my life that I told myself this would be perfect for my kids to learn one day at an early age,” Sommer says. “Since my first baby is due in January 2015, I am particularly excited about this project.” The firm’s overriding philosophy, Sommer says, is to be client-focused. “Quite simply, we put our clients first, supporting them with what they need to achieve their financial vision in a customised, high service package. Our clients feel supported and part of our family through their financial journey which allows them to enjoy what is important to them in life. “Having two generations involved in our business, we have fostered a culture with a strong family feel. The family culture extends to our employees and our clients, which makes them feel we are in business together to create win-win-win results. We also focus on ongoing educational involvement to ensure we are absolutely up to date. Developing communication skills that allow us to better meet client needs is a primary concern. “At the end of the day it always comes down to our clients, some of whom have been with us for over 30 years. I want to extend a huge thank you to all of our clients who have taken this journey with us; we are thrilled to have received this award as a symbol of your ongoing support. Thank you for continually trusting us with your financial vision. We look forward to many more prosperous years as we grow into the future together.”

Contact name: Bryan Sommer Email: bryan.Sommer@manulifesecurities.ca Tel: +1 604 538 1723 Web: www.interconnectfinancial.com Address: 310-15252 32nd Ave, Surrey, BC V3S 0R7 Canada

wealth&moneymanagement2014 | 21

Best Head Fund Manager, Massachusetts

BOGAN ASSOCIATES Bogan Associates was formed with a vision that the future will bring unprecedented growth in biosciences, technology and infrastructure, searching for the best opportunities throughout the world and taking a research-driven, analytical approach to investment. Andrew Bogan, Founder and Managing Member at Bogan Associates, tells us more about the firm and its continuing success

eing named Best Head Fund Manager, Massachusetts, says Andrew Bogan, Founder and Managing Member of Bogan Associates, LLC in Boston, came as something of a surprise. “As a private fund manager with a small and highly select group of family office clients, we never expect to gain the attention of publications or other industry-wide associations that give out awards. We keep a very low profile and stay keenly focused on our goal of successful intergenerational wealth management for our clients and for our own family. We are honoured to have been selected for this award, especially given the terrific pool of fund management talent that surrounds us in Massachusetts.”

“

The 10-year-old firm, which in addition to its Boston headquarters has a second location in Palo Alto, California, has chosen two broad areas of the global economy that it believes have the potential to deliver superior returns over future decades for each of its two private funds, Bogan says – namely, science and infrastructure. “Investing in science driven companies allows us to capture the value of technology innovation in a variety of fields including biotechnology, digital technology, engineering, robotics, and materials science,” he says. “Investing in global listed infrastructure gives us an even wider geography, providing global opportunities spanning six continents. We invest in sea ports, toll roads, airports, railways, energy in-

frastructure, communications infrastructure, and financial transaction infrastructure around the world. These natural monopoly businesses have very favourable characteristics, often with robust cash flows and large dividends, which match our long term investment goals.” Bogan feels that the firm’s work throughout its first decade has established it as a safe pair of hands for its clients’ wealth. “We are pleased to say that the first decade has illustrated what our strategies can deliver and we strive to achieve similar success over the next decade for our clients. Most of our competitors focus on monthly, quarterly, or annual performance. We focus on inter-generational wealth management over decades, the first one of which has been a success despite including one of

We are pleased to say that our first decade has illustrated what our strategies can deliver and we strive to achieve similar success over the next decade for our clients

“

22 | wealth&moneymanagement2014

the most difficult periods in global equity markets since the Great Depression.” Over the past year, Bogan Associates has continued to build relationships with its existing family office clients – historically, the firm’s clients have been family offices or wealthy individuals in Silicon Valley, Boston, New York and Philadelphia – as well as welcoming some new families to its two private funds, Bogan says. “Our biotechnology investments in both the US and Europe have contributed strongly to our science investment returns over the past year and our infrastructure investing continues to show durable outperformance of the relevant global benchmarks. “We look forward to helping our clients continue to build their wealth for the next generation,” he adds. The firm has a clear focus on operating at the highest level of integrity in everything it does, Bogan says. “Bogan Associates is a family firm and we maintain the same standards of honesty, respect for others, and integrity that we expect of ourselves and all of our family members. We treat our clients no differently.”

Asked about industry trends, Bogan says, “Exchange-Traded Funds (ETFs) continue to expand in their popularity with investors, but we think this trend creates the potential for new systemic risks to our financial system.” The firm has produced a research paper on this topic, “Asymmetries in Short Selling of Exchange-Traded Funds and the Potential for Systemic Risk”, which was published in The Journal of Index Investing in spring 2012. Of course, no matter how good a firm’s investment strategy, there are always bad years in every business. Wealth and money management is no exception, says Bogan. “What differentiates the successful firms is their ability not only to survive those difficult times, but also to learn from them and thrive in the subsequent years.” Looking towards the future, Bogan says the continued recovery of the US economy creates some potentially large opportunities for equity investors in the coming year. “However, external events that negatively impact the equities markets and other investment assets are often difficult to predict and usually only have serious consequences when they are least expected. So it’s often a fool’s errand to try to guess what developments or events will have the biggest impact on our business.”

“That said, the ever increasing burden of the web of compliance regulations for financial services, while not in any way catastrophic, does add to the complexity of managing funds efficiently without providing much in the way of tangible benefits to either the financial system as a whole or to individual investors. The lack of coordination of these regulations between the US, Europe, Japan, China and other jurisdictions is especially frustrating for firms like ours with a strong culture of compliance with the regulations.”

Contact name: Andrew Bogan Email: andrew@boganassociates.com Web: www.boganassociates.com Address: 75 Arlington Street, 5th Floor, Boston, MA 02116, USA

wealth&moneymanagement2014 | 23

Best for Withholding Tax Reclamation

GOAL GROUP Established in 1989, Goal Group of Companies is the leading class action service provider and tax reclamation services specialist, with a truly blue-chip client base including many of the world’s largest global custodians, asset managers, private banks, pension funds, hedge funds, high net-worth individuals, investment banks, prime brokers and fund managers

stablished in 1989, Goal Group is the leading tax reclamation services specialist and securities class action provider. The Group has a truly blue-chip client base including many of the world’s largest global custodians, asset managers, private banks, pension funds, hedge funds, high networth individuals, investment banks, prime brokers and fund managers spread widely across the Americas, EMEA and Asia Pacific. The Group monitors client assets with a total value in excess of £8tn.

tax reclamation related services; and relationships with global custodian banks.”

us apart from our peers and give our rapidly growing client base peace of mind,” says Salva.

It has been a successful year for Goal Group. Growth in the number of tax reclamation clients has grown by some 102% over the last 12 months and the Group has seen its number of clients grow by 84%, year on year. As testimony to Goal’s drive, the number of reclaims has risen over 300% since 2012.

The Group is “honoured” to have been named Best for Withholding Tax Reclamation in the Wealth & Money Management Awards, says Bill Salva, Global Business Development Manager at Goal Group.

Furthermore, Goal, which is always monitoring where to open up new markets, has established new offices in San Francisco, Philadelphia, Hong Kong and Melbourne over the last 18 months.

“Additionally, we liaise closely with industry bodies including, but not limited to, the Securities Industry and Financial Markets Association (SIFMA) and the Bank Depository User Group (BDUG) in the US. Furthermore, from a standpoint of thought leadership, Goal is launching the inaugural ‘Made Simple’ guide to tax reclamation with the National Association of Pension Funds (NAPF) in the UK of which Goal are business partners.

“The award is recognition for the considerable investment made and significant growth achieved in developing this key part of Goal’s global business. We very much see this as a milestone on the journey to further raising our profile and developing our tax reclamation services worldwide.” The Group owes its award win to a number of factors, says Salva, listing them as follows: “Client retention; demonstrable high quality client services; cutting edge software; being established for nearly three decades; strong relationships with the tax authorities worldwide; broadening our portfolio of

24 | wealth&moneymanagement2014

The Group has also entered a strategic alliance with Broadridge, a leading provider of investor communications and technology-driven-solutions to banks, broker-dealers, mutual funds and corporations globally, with a particular emphasis on the US. Goal Group strives to be ever-responsive to the evolving world of withholding tax recoveries. “Quality and security are fundamentals – hence Goal are ISO 9001-accredited and are currently working towards ISO 27001 (Information Security Management System) in the coming months to set

“Aside from tax reclamations, as a specialist provider of securities class action services worldwide, we strive to keep clients informed about developments in corporate governance and fiduciary responsibilities towards underlying clients.” Goal Group has a “can-do attitude” when it comes to client services and the importance placed on client relationships, says Salva. “To maintain that, Goal places great emphasis on developing the skills of the entire team within Goal, be it at head office or across the expanding office network. “This is enhanced by growing the team with experienced specialists from backgrounds in global custody and investment banking.”

“

Goal Group strives to be ever-responsive to the evolving world of withholding tax recoveries

“

Asked which developments or changes he sees having the biggest impact on Goal’s business and industry over the coming year, Salva says global market trends, including recent increases in the popularity and prevalence of companies paying dividends, major increases in market capitalisation and a rising proportion of portfolio investment devoted to cross-border investment, will all lead to a greater demand from investors, fund managers and custodians to utilise the tax relief/reclaim services of expert providers like Goal Group. Looking to the future, Goal plans to further cement its global presence, Salva says. “Looking forward, we are continuing to develop our strategic alliances around the globe, enhancing our leading-edge software and Goal anticipates releasing new products within the global withholding tax reclamation arena.”

Contact name: Bill Salva Email: wsalva@goalgroup.com Tel: +44 (0) 20 8760 7130 Web: www.goalgroup.com Address: 7th Floor, 69 Park Lane, Croydon, Surrey CR9 1BG, UK

wealth&moneymanagement2014 | 25

Best Women-Owned Investment Advisory Firm, USA & Best Small-Mid Cap Active Equity Strategy, USA

NEW AMSTERDAM PARTNERS New Amsterdam Partners is an asset management firm founded on an innovative philosophy: an intellectually rigorous and disciplined blend of quantitative and fundamental investment research will produce superior stock selection

New Amsterdam Partners was founded in 1986 by Managing Partner, Michelle Clayman, CFA, as an independent registered investment advisor. The firm is a Women-Owned Business, and is 100% employee-owned. New Amsterdam Partners was

“

Investment Philosophy Underlying our investment philosophy is the realization that market participants do not respond to available information uniformly. We take advantage of market mis-pricings through the disciplined use of our quantitative valuation techniques, in conjunction with sound fundamental financial analysis of companies. We search for companies with higher-than-average forecast growth and profitability as measured by return on

reinvented, rethought, or rejiggered every time the market hits inflection points or faces “paradigm shifts”. We also always work towards better implementation of our process, and this includes better modeling the inputs to our model, as well as making better use of the outputs. Our investment philosophy and process are a logical and disciplined way of managing domestic equity portfolios. We believe that our focus on maximizing expected return in a rigorous way differentiates us from other managers.

“

ew Amsterdam Partners is an asset management firm founded on an innovative philosophy: an intellectually rigorous and disciplined blend of quantitative and fundamental investment research will produce superior stock selection.

We believe that our focus on maximising expected return in a rigorous way differentiates us from other managers

started to bridge the chasm between the methods of quantitative and fundamental stock analysis. Discerning the strengths and limits of each, Michelle developed an approach that integrates both disciplines to yield a decisive and intellectually sound edge in stock selection.

equity, selling at, or lower than, market price-toearnings and price-to-book ratios. Our style can best be described as GARP (Growth at a Reasonable Price).

We serve a diverse range of clients, including institutions, individuals through managed account programs, as well as traditional high net worth accounts. Among our clientele are prominent state and local retirement systems, Taft-Hartley pension plans, and Fortune 500 companies, as well as national not for profit groups.

Power of our Quantitative Valuation Model

26 | wealth&moneymanagement2014

What Sets New Amsterdam Apart

Our investment philosophy has remained remarkably consistent over time, and this is due to the fact that the backbone of our quantitative process is a model that is itself a mathematical identity, and not factor based. This is a very powerful concept – one that means our model need not be

The firm’s investment philosophy and competitive advantage are sustainable over the long run. As our investment philosophy and process have remained consistent over time, they have been tested through various market environments and have proven to deliver gains over the long run. True Integration of Quantitative and Fundamental Analysis Many firms today pay lip service to combining quantitative and fundamental research but we have been doing it successfully for over 28 years. Our industry analysts recognize the power of our quantitative valuation model in identifying attrac-

tive investment candidates and focus on validating the inputs to the model in their own rigorous valuation work. They also take a deep dive into company financial statements and competitive position to understand the full story and confirm or deny the attractiveness of the stock. Our portfolio managers and quantitative team understand, too, the importance in using traditional techniques to verify the output of the quantitative work since quantitative tools can highlight either anomalies in the data or underplay deep company structural issues that have not yet shown up in the numbers, but can be unearthed in traditional fundamental research. Independent Ownership Structure Our firm is 100% employee owned which aligns our interests with those of our clients. We focus on generating returns since that will benefit clients and us too. Since we are independent, we can concentrate on what is best for our clients, our firm and our employees in the long run without short term pressures for asset gathering or profit maximization that might alter our focus. Stable Team The firm is over 28 years old and the two portfolio managers, both partners in the firm, have worked together for over 18 years. Additionally four other senior members of our team have been with the firm ten years or more. We offer equity ownership to valued members of the firm as a retention tool, which ensures the ongoing sustainability of the firm. Small-Mid Cap Active Equity Strategy New Amsterdam Partnersâ&#x20AC;&#x2122; Small-Mid Cap portfolios have 40 to 45 U.S. stocks diversified across 10 economic sectors, with a market capitalization range between $200 million and $3.5 billion at purchase. For major sectors, we are never more than twice or less than half the benchmark weighting. Our initial investment in a stock ordinarily will not exceed 2.5% of the market value of a portfolio. As a stock appreciates, its portfolio weight may increase, and we trim back such positions as appropriate â&#x20AC;&#x201C; but no position may exceed 5%. Our portfolios are fully invested; cash is typically held at 3% or less. Web: www.napllc.com Tel: +1 212 689 1500 Address: 475 Park Avenue South New York, NY 10016 USA

wealth&moneymanagement2014 | 27

Best Regional Financial Planner, Yorkshire

PEN-LIFE

Pen-Life Associates Ltd is a firm of Independent financial advisors which provides independent, no-nonsense financial advice from Yorkshire, advising private, corporate and trustee clients throughout the country on insurance, investments, pensions, long term care and inheritance tax

en-Life Associates has been around for over 30 years, and during that time, says Director and Practice Manager Julie Wilson, the firm has had one objective: “to increase our clients’ wealth and protect it from greedy bankers, crazy governments, desperate authorities and other legalised robbers. “We offer the full spectrum of financial advice,” she says, “from protecting your loved ones to making sure your money lasts as long as you do and that anything left over ends up with your family and not the tax man.” Being named Best Regional Financial Planner, Yorkshire is the latest in a long line of awards for Pen-Life. “We were delighted to add another award to our arsenal of accreditations. There is an understandable mistrust of financial services, stemming in large part from the scandals within large banking and life assurance organisations. We work hard to win the trust of the clients we want to help, and independent awards and accreditations help us to do that. “We’ve spent considerable resources to ensure an efficient and caring customer-focused service. That

28 | wealth&moneymanagement2014

is paying off – we are getting even more referrals from existing clients, lawyers and accountants.” The firm sets itself apart from its competitors, Wilson says, by putting things in simple terms for its clients. “The financial services arena is full of jargon and gobbledegook that can scare clients away. We work hard to explain what can be quite complex areas of finance with simple straight talking advice.” Pen-Life’s latest award win is the culmination of a successful year for the firm. Because Pen-Life has been a chartered practice since 2010, the firm was able to avoid the disruption of trying to achieve the new standards required by the UK Financial Services Authority as a result of its Retail Distribution Review (an investigation into the advising of retail investment products; a programme designed to enhance consumer confidence in the retail investment market through increased transparency and better training of advisors followed in December 2012). “We were able to spend that time refining our processes and making sure we can offer the very best advice and service to our clients, and putting more effort into getting our message out to more people,” says Wilson.

Over the coming year, Pen-Life plans to establish a new fee-based Estate Planning and Wealth Preservation arm to deal with the growing number of families that are effected by Inheritance Tax and paying for elderly care. “This company will sit very well with our existing practice, as we tend to specialise in this area, and will be able to service more clients with this specific need,” says Wilson. Wilson says the new pension flexibility, announced in the 2014 Budget and coming into force in April 2015, heralds the biggest changes to UK pensions in almost a hundred years. “With that comes the challenge of helping client make their money last as long as they do, in a world where people are living longer.” Contact name: Julie Wilson Email: julie@pen-life.co.uk Tel: 01904 661140 Web: www.pen-life.co.uk Address: Equinox House, Shipton Road, York YO30 5PA

Best Family Office of 2014, USA

MATTER MATTER FAMILY FAMILY OFFICE OFFICE Matter Family Office combines investment management, wealth planning and coordination and family leadership services to build solutions that reflect the needs, perspectives and objectives of each of its family clients. We spoke to Katherine Lintz, Founder and CEO, about the firm and the secret to its success

xclusively family-focused, Matter Family Office is committed to helping families preserve, nurture, and grow their wealth.

Since its formation 25 years ago, the firm has valued the close, personal relationships it has developed with its families at every level in the organisation. “We have a light, welcoming office environment and enjoy having clients stop by, sometimes unannounced, to drop off something or ask a question,” says Katherine Lintz, Founder and CEO. “We have a ‘Client Acceptance Committee’ whose primary question when reviewing potential clients is: ‘When I see their name on the phone caller ID, will I pick it up enthusiastically, or consider letting it go to voicemail?’ “We approach hiring new employees with the same diligence, assuring an enthusiastic, energetic team that all share a concern for the client. We test potential employees and have a psychologist evaluate not only their thinking, reasoning, and quantitative abilities, but how their personalities will compliment our client-centric approach, and allow them to be successful and excel in our culture. “We have always provided a comprehensive approach to wealth management, and in the last few years have developed a deep capability in the area of family leadership. A significant number of our clients are wealth-creators –the first generation that may not have the legacies and traditions to facilitate a smooth and efficient transfer of family businesses or accumulated wealth to the next generation. We insist on an inclusive approach to working with families and have intentionally built our teams to include a range of generational perspectives. In other words, we believe age diversity is important when involving multiple generations in family decisions.”

Matter has the unique advantage of being able to provide families with objective guidance that is rigorous and agenda-free. Wholly owned by firm associates, there are no products, no commissions and no conflicts of interest. There is no compromise to integrity. “We are intensely client-centric,” Lintz says. “Our holistic, intentional approach to planning, coordinating, and executing on the complex facets of wealth management helps families effectively navigate life’s challenges. Collaborating with family advisors, we bring everyone together to share best ideas and achieve best implementations of family plans. “We place a premium on client involvement, preferring those who are actively engaged and interested in learning to those who just want a caretaker.” Matter recently completed an employee survey, says Lintz, and the consultant assisting expressed surprise and admiration for the high level of alignment around the core values of the firm. “Primary among them is our client-centric approach to what we do every day,” she says. “It is that focus that keeps us looking for ways to serve clients better, to find solutions they need, and not compromise the integrity of our purpose. We’re independent and owned by those who serve our client families, so we can be unconflicted about treating each family as if they are our only concern. Ultimately, we like to think that a steadfast adherence to our core values will serve us and our families best.” Matter’s relationships with its families are deep and intimate. “We don’t track time spent on clients or over-analyse profitability of each fam-

ily,” says Lintz. “We listen and take the time to know their concerns and ‘hot buttons’. We speak to the husband and wife in meetings, directing conversations to those topics they are each most interested in, be it investments, wealth transfer, philanthropy, or whether their child will get into a good college. “One example comes to mind where the wife had been struggling in meetings about investments, partly because her husband was a financial professional himself and she didn’t want to pull down the discussion to her level. She began to shut down and dread meetings. Instead, we began to meet with her separately so she could ask whatever questions she had without embarrassment or pressure. “The advantage to the client is clear. The difficulty is explaining to a potential client the level to which we go to assure the clients are getting the best solutions for their family. But often all it takes is to encourage them to visit with all the other firms and do their own comparison of approach.”

Contact name: Katherine Lintz Email: klintz@matterfamilyoffice.com Tel: +1 314 862 5190 Web: www.matterfamilyoffice.com Address: 7711 Bonhomme Avenue, Suite 400, St Louis, Missouri 63105 USA

wealth&moneymanagement2014 | 29

Best for Managed IT Services - London & South East & Award for Innovation in Tech Disaster Recovery

SENTRONEX

Sentronex sells IT services tailored to the financial sector to a growing number of London-based regulated firms. Joe Sluys, CEO, tells us more

ince 2005, Sentronex has delivered reputable, flexible and personable managed IT services to a growing number of London-based, FCA regulated firms. The firm delivers the following six services: IT support, Disaster Recovery (DR), financial IT consultancy, Cloud computing, hosting and connectivity solutions. These core services can be cross-sold, giving Sentronex clients the opportunity to take as many, or as few, as they require. That said, over 70% of customers take two or more of our services and many opt to make Sentronex their end-to-end IT services provider. Sentronex was, says Joe Sluys, CEO, delighted to be the winner of the Wealth & Money Management Award for Best Managed IT Services in London & South East and for Innovation in Tech Disaster Recovery. “It is fantastic to be recognised for the dynamic range of services we offer within the outsourced IT and Business Continuity industry,” he says. Sentronex goes over and above what is typical of an IT services provider, says Sluys. “We do not deploy technology for technology’s sake, nor do we offer off-the-shelf, packaged solutions – there is little place for that in the financial services industry. “Instead, Sentronex promotes suitable, long term and tailored IT solutions and works with each indi-

30 | wealth&moneymanagement2014

vidual client to ensure their infrastructure mirrors the needs and requirements of their business.” The majority of senior members of staff come from financial services backgrounds, which helps drive the Sentronex culture that prioritises truly understanding the pressures faced by its clients. “As an IT services provider, we must have our finger on the pulse at all times, to be able to advise our clients on the best technical approaches to take. Training is key and as a business, Sentronex invest in the personal development of the team across all departments.”

He adds that Sentronex owns and fully manages all its facilities, thus giving its customers peace of mind that they will not outsource to third parties. Following 12 months of fundraising, Sentronex has invested heavily in the business’ infrastructure, expanding its DR offering by acquiring a new work area recovery facility in Canary Wharf – Sentronex now has the platform for growth to offer the best outsourced IT services to many more customers, Sluys says. “The plan for the coming year is to exercise this and add to our already growing portfolio of clients.”

Sluys says Sentronex is different from other outsourced IT services providers in that its absolute priority is to understand the needs and requirements of an industry before providing it with IT services. “In essence, we won’t just sell IT to anyone,” he says. Being experts in working with London-based regulated firms, Sentronex sells customers IT services tailored to the financial sector. “However, when delivering IT services to a different sector, such as the media and PR industry for example, we apply the same rules. Sentronex ensures we understand the needs of a business’ systems and platforms as well as any pain points they may face, before building the right solution and delivering the necessary IT services. With every client, we are qualified to sell the specialised IT required,” says Sluys.

Contact name: Rhian Robinson Email: rhian.robinson@sentronex.com Tel: +44 (0) 20 7397 7424 Web: www.sentronex.com Address: 42 Southwark Street, London, SE1 1UN

Customised Financial Planning Firm of the Year, Canada

CARING FOR CLIENTS Providing its clients with trusted independent and comprehensive advice, Caring for Clients is helping more Canadians attain financial security than ever before. Owner Rona Birenbaum tells us how

hrilled to receive the award for Customised Financial Planning Firm of the Year, Canada, Rona Birenbaum said it will allow Caring for Clients to help more people as well as providing greater confidence in the industry as a whole. “Certainly we appreciate the exposure the award offers and it can only help expand our reach to help more Canadians reach financial security whether through cash flow management, retirement and estate planning, tax planning, risk management or investment strategy. At an industry level, it can help counter negative stories in the media regarding failures which may unfortunately result in a general maligning of the financial advisory field.” Changing the firm’s pricing model to fee-only planning 14 years ago, an innovation in the industry at the time, Rona explained that while Canadians are more in tune with financial planning today, the support, expertise and approach of Caring for Clients is more relevant than ever. “These days Canadians are seeking out objective

advisory options and are more comfortable paying for advice, understanding that ‘free’ advice is rarely that and never free at its core.”

naturally as a reflection of my personal values. I do believe that the culture of an organisation begins with the leadership.

“That being said, our success is primarily due to the trusted advisor role that we play in our clients’ lives. Our in depth knowledge of their circumstances coupled with our well-established professional network ensures that we provide support and direction in every aspect, becoming invaluable problem solvers for our clients.”

“This culture has seen Caring for Clients be recognised industry wide as a firm with the highest professional integrity. It is an attribute that resonates strongly with potential clients.”

Rona is most proud of the mission of the company which perfectly reflects the company name while providing a basis for a high level of customer service. “I feel that a good business is one that measures success not by revenue or assets, but by the success their clients achieve, which this recognition allows us to broadcast.” “Our company name is our mission and therefore, our overriding philosophy and basis for our service culture. Developing the culture happened

Contact name: Rona Birenbaum CFP Email: rona@caringforclients.com Tel: +1 416 363 8500 Web: www.caringforclients.com Address: 69 Yonge Street, 2nd Floor, Toronto, Ontario, M5E 1K3 Canada

wealth&moneymanagement2014 | 31

Most Client-focused Structured Product Provider, UK

FOCUS FOCUS STRUCTURED STRUCTURED SOLUTIONS SOLUTIONS The Focus Structured Solutions range has been developed to deliver both timely and relevant investment solutions for the IFA. Robbie Briginshaw, Managing Director, tells us more

n Focus Structured Solutions being named Most Client-focused Structured Product Provider, UK, Robbie Briginshaw, Managing Director, says, “We are very pleased to win this award, especially as it recognises the fact that we are a very client- focused business. We work closely with our IFA client base to understand their portfolio planning issues and work hard to create cogent investment propositions for a multitude of market conditions and clients. I think that the structured product industry as a whole benefits from this kind of recognition, as all of the providers and numerous individuals within this sector have worked extremely hard to create positive investment results and raise the profile of structured products. “We owe this award firstly to the IFAs who have voted for and utilised our products, but also to the IFA market as a whole, as it is the constant feedback that we garner from them that leads to product demand and ultimately to its manufacture.” Focus Structured Solutions works with a highly rated investment bank as counterparty in order to distribute Structured Products to the IFA community. “The main attraction for many of our IFA clients of a structured product investment is that they provide the IFA and investor a clearly defined risk/ reward scenario at the outset,” says Briginshaw. Over the past year, the business has grown from start-up to a well-established distributor with an ever growing client bank. The firm has issued over 25 products and its product range has now grown to include Income, Kickout and deposit style plans to cater for a multitude of investors.

32 | wealth&moneymanagement2014

Focus’s overriding philosophy, Briginshaw says, is to listen to the IFA community and learn about their day to day portfolio planning issues, and work to create products that will create a solution. “We obviously only distribute products that we truly believe will work, but that’s not enough. Alongside this there are a huge number of stress and backtesting processes that take place before a product could even be considered for release, in order to give everybody involved as clear a picture as possible of the potential risks and rewards, in order for them to make an informed decision.” Briginshaw feels a good business is based on sound principles. It should listen to its clients and try its very best to create the best product possible. “It should also adhere stringently to the FCA guidelines, and treat all of its clients fairly, educating people about structured products along the way.

ridiculous, but there is nothing more annoying than not being able to speak to somebody when it concerns you or your clients’ investments. The amount of large financial institutions that fail to get this simple fact is astonishing to me. “Concerning product design, one size does not fit all, and as structures can only be utilised for a proportion of a portfolio, it’s important that we strive to understand each and every IFA client and which products they require and why.” There are exciting times ahead for Focus Structured Solutions, says Briginshaw. “With the growth we have experienced this year, there will be further recruitment to ensure that the level of customer service is maintained and further improve. We are always looking at ways to ensure our service led proposition is continually evolving.”

“I truly believe if you listen to the issues, try and create a solution, and have a great level of service, IFAs will consider you.” The working culture at Focus is based around a simple concept: helping its clients. “The working culture we implement is basically to help. Whether it’s pricing up a particular shape of product that an IFA is considering, or something as simple as answering a small technical question, nothing is too much trouble. “If the phone rings, we answer it! We want to be known as approachable, and that there is a friendly voice at the end of the phone that will be able to deal with your enquiry. I know it sounds

Contact name: Robbie Briginshaw Email: robbie@focus-ss.com Tel: 020 7769 6843 Web: www.focus-ss.com Address: Racing Green Investment Services Ltd, Home of Focus Structured Solutions, No 1 Cornhill, The City, London EC3V 3ND

wealth&moneymanagement2014 | 33

Financial Services IT Consultants of the Year, New York

ENTERPRISE ENTERPRISE ENGINEERING, ENGINEERING, INC. INC. Enterprise Engineering, Inc. (EEI) provides a wide range of services that address various front, mid and back-office functions of a financial institution’s business. We spoke to George Anderson from EEI about the company and how it is leading the way in a competitive business

ould you please tell us a little about your firm, your clients and the services you offer?

Since 1995, EEI has provided strategic technology advisory services such as business/technology strategy, enterprise data management, data architecture and governance, big data, business intelligence and systems integration.

financial services space are strong and deep. And they are all well-earned! How does it feel to be named New York’s Financial Services IT Consultants of the Year?

er’s personal financial information in any format a consumer might want (i.e., internal financial services portals, traditional PC downloads, cloud hosted solutions, tablet and phone applications).

As a trusted advisor to many of the worlds’ largest and most respected financial institutions, it is always exciting to be chosen as the best in our field.

What are the main factors or outside influences that affect businesses working in the wealth & money management arena? How do you deal with them?

Our EnterpriseFTX™ software suite supports multi-bank environments with modular solutions that offer account & money management, bill payment & presentment, alerts and entitlements. EnterpriseFTX™ is used by hundreds of financial institutions including major banks and brokerage firms, banking and retirement services providers, credit card providers, tax services firms, and online banking and bill pay enablers.

Awards like this one help showcase Enterprise Engineering’s outstanding leadership, track record and value proposition. This award recognizes the hard work of our staff, our partners, and especially the opportunities our customers have provided us with. These qualities truly set us apart and are a prime example of what it means to be a successful business!

The key is to understand the space and the value this business can provide to client households. We are always communicating with our customers. Asking them questions about their business, what their challenges are and what they want and need to deliver as a business. By doing this we are able to always add value and provide insight to our customers.

To what do you most owe your award win?

Our software products are proven and trusted by the world’s biggest wealth managers, front ending assets under management well in excess of seven trillion dollars.

I would have to say it is our experience in wealth management and the fact that we are enabling many of our clients to go from legacy infrastructures to world-class, industry leading systems. The key is to help our financial institution customers differentiate their offerings in the marketplace.

Tell us about your firm’s overriding philosophy. How do you strive to operate with regards to your clients and peers?

What sets your firm apart from your competitors and peers? How do you use this differentiation to your advantage? EEI is an established, reliable technology provider capable of delivering robust, scalable Financial Technology Solutions. Viewed as a trusted advisor to many of the worlds’ largest and most respected financial institutions, our software products are relied upon by each of the Top five Wealth Managers and front end over $7 trillion dollars in assets. Our strongest assets are our industry knowledge, intellectual property, reputation, and customer references. Our relationships and footprint in the

34 | wealth&moneymanagement2014

It’s truly exciting to see the positive impact that technology enabled Wealth Managers have on the lives and security of their client households. This really drives us to excel! Please tell us about any recent developments/ success in your business over the past year. EEI has been at the forefront of developing new and updated mid and back office trading and Master Data Management platforms for several top wealth management firms. We also had great success in enabling financial institutions to unlock their custom-

Our company’s philosophy has always been to stay ahead of industry trends. For years we’ve had the corporate mantra: “If you’re not moving ahead, you are falling behind!” We believe this to be especially true with our financial services customers. This is the cornerstone of our company commitment. Our leadership team is always asking the question of “What value are we providing today?” This question applies to many relationships including our clients, our co-workers, and our partners. Our strategy is to continually evolve in today’s dynamic and hyper-competitive business environment. In your industry, what, in your view, makes a good business? That’s easy! A good business is one that always

delivers value to its clients, employees, and partners. You donâ&#x20AC;&#x2122;t make it twenty years in the Financial Technology space unless you provide clear and lasting value to your key relationships! Tell us a little about the culture within your firm and the things you do to maintain and develop it. How does it contribute to your ongoing success? EEI prides itself on being able to attract, develop and retain high quality, knowledgeable and experienced individuals within our company. We have an enviable track record of implementation success and an outstanding reputation for quality and creativity. We always deliver what we promise. Simply put, we refuse to fail! Our on-going success can be attributed to unparalleled customer focus, comprehensive resources and in-depth industry knowledge that has made EEI a key partner to top-tier financial institutions. We work with our clientâ&#x20AC;&#x2122;s pro-actively to develop custom solutions that deliver the greatest value to their business and operations. Our assignment longevity, below industry average employee turnover, and high rate of repeat business demonstrate the quality of our work year-in and year-out. Do you have any exciting plans/developments set to happen in your business over the coming year? We continue to invest R&D dollars in the Wealth Management space and will be rolling out new software products and cloud-based solutions in the coming months. We continually learn from our customers and apply that knowledge to build leading edge solutions that will offer competitive advantages to our customers.

Contact name: Jaimie Anzelone Email: janzelone@joineei.com Tel: +1 646 421 2171 Web: www.joineei.com Address: 115 Broadway, Suite# 1705, New York, NY 10006 USA

wealth&moneymanagement2014 | 35

Best Investment Managers for Manufacturing & Distribution, UK

GEMINI INVESTMENT MANAGEMENT LTD Gemini Investment Management Ltd (GIML) provides an outsourced sales partnership and Fund product development that services the professional asset management community in the UK and globally through joint ventures in Europe and Asia

s a business set up just over five years ago, Gemini Investment Management Limited is delighted to have been recognised for the Best Investment Managers for Manufacturing & Distribution, UK. We are an independently owned entrepreneurial investment business. We have the ability to react quickly and undertake projects which deliver results in a cost effective, measurable and timely manner. We have a “can-do attitude” – which might be a cliché with some companies but is a reality with us when working in partnership with investment companies, fund managers and professional advisers. We offer an outsourced solution for the manufacturing and distribution of funds and our sole purpose is to deliver appropriate solutions to investment professionals. Fund managers should concentrate what they do best: investing money for their clients. We provide the infrastructure within which a fund can operate and, if required, also take it to market and distribute it. Our starting point is to work with fund managers to assess the strengths and weaknesses of the proposal, to undertake market research to gauge client interest and then identify the most appropriate course of action. In this way it helps to take a good story from an idea to reality and ultimately on to success.

36 | wealth&moneymanagement2014

We believe our success has stemmed from our elite business model, which empowers boutiques and fund managers to challenge the long-standing asset management business structures. It also allows access fund manager skills that may have, in the past, only been available to institutional investors or a small group of investors close to the managers. Gemini recognises the challenges facing managers and seeks to break down established structures enabling boutiques to achieve financial efficiencies by outsourcing their non-core functions. Our competitive edge is this: we truly recognise and deliver an investment solution that is a “right fit” for our clients. We have created an easily-accessible route to market enabling distributors and investment managers to quickly develop products for their chosen business and client needs. It’s a “plug and play” concept, all about flexibility and choice, whereby fund managers can utilise Gemini’s Irish fund platform to create and host their product through the most appropriate vehicle, thereby showcasing their investment funds. In addition, we recognise the investment manager’s brand is very important to help identify them in the marketplace. Gemini ensures the branding of the investment manager is central to all aspects of the proposition.

Within regard to our distribution capabilities, we have seen established investment management businesses restricted in what they sell and are often marketing led rather than investment management led. Gemini seeks out progressive investment managers with the understanding and capability to deliver superior returns. We always ensure the investment proposition is developed in the most efficient manner to benefit investors. As for our future strategy, it’s simple: we will aim to continue building our investment proposition through which investment managers can access our expertise to build their businesses.

Contact name: Stuart Alexander Email: stuart.alexander@gemini-im.com Tel: 020 3206 1180 Web: www.gemini-im.com Address: Longcroft House, 2/8 Victoria Avenue, London EC2M 4NS

wealth&moneymanagement2014 | 37

Award for Innovation in Investments (Second Opinion Concept)

ZUCKER & CO

Zucker & Co Investment Advisors Ltd is an independent investment advisory and consultancy firm focusing on private clients, charities and family offices. Olivier Zucker, the firm’s Founder and Managing Director, told us more about Zucker & Co and its innovative second opinion concept

hen Olivier Zucker founded Zucker & Co in London in 2008, a friend asked him what, exactly, he wanted to do for clients, and how this would distinguish the firm from its rivals.

their money is invested in a reasonable way.” The firm is built on three guiding principles, Zucker says: trust, transparency and integrity. “Each of these words is easy to use but very hard to transpose into a long-lasting client relationship.”

It was a conversation that had a significant effect on the direction the company has taken. “Thanks to this discussion I started to focus on the concept of a second opinion for investment related problems,” says Zucker.

On being presented with Wealth & Finance’s Award for Innovation in Investments, for Zucker & Co’s second opinion concept, Zucker says, “It is, of course, always a pleasure to be recognised by your clients for the work you do and the way you help them on their investment journey. It shows me that what we are doing is important to them and that we respond to an existing and growing demand in the market.

“We have been working along these lines for the last five years, and continuously improved and expanded our knowledge base in response to what client wanted us to do.” Zucker & Co’s clients are diverse, and the firm receives requests ranging from people wanting an analysis of an investment into a structured product, to formulating and implementing an investment strategy for a substantial family office. “What they have in common is that they come to us because they have an investment related issue they would like to sort out,” says Zucker. “Sometimes they don’t really understand what is happening in their portfolios; other times they simply want a health check to make sure that

38 | wealth&moneymanagement2014

As for the future, Zucker says he thinks people will become more prudent in terms of their retirement savings. “I would expect a lot of people to review how much money they have set aside for their old age and how they have financially planned for this part of their lives. While life expectancy is increasing we see a lot of professional people whose career takes a hit in their fifties and then find it difficult to set aside enough money to guarantee a comfortable retirement. This is a challenge for the clients and the advisers, but also an opportunity to come up with the correct solution.”

“I think, for an individual business, especially in the case of a small and independent Investment Advisory firm such as Zucker & Co, [awards like this are] a priceless opportunity to market its capabilities and bring it to the attention of a wider audience.” The investment world is becoming more and more difficult. Zucker feels this is partly due to the increasing complexity of financial products, and partly due to regulation. “Very simply, clients need somebody who is sitting on their side of the table translating the investment jargon into plain English.”

Contact name: Olivier Zucker Email: ozucker@zuckerinvestments.com Tel: 020 3745 8375 Web: www.zuckerinvestments.com

Family Office of the Year, Missouri, and Best for Family CFO Services, USA

MONETA GROUP

Client-centred since 1869, Moneta Group provides Family CFO services to clients with complex financial lives. Emily Barlean, Marketing & Communications Manager at Moneta Group, tells us more

oneta Group’s role is to do one thing, says Emily Barlean, Marketing & Communications Manager at the firm: provide clients with customised services that take the stress and complexity out of managing personal financial affairs and giving them the freedom to enjoy the life they worked hard to achieve. “As Family CFOs, our responsibility is to advise clients on how to manage, grow and protect their family’s assets. Investment management is obviously a piece of this, but the complexities of retirement planning, estate and philanthropic strategies, tax planning, money management, risk management and business succession also require a wide range of expertise.” Moneta Group’s clients are usually high net worth families, retirees, business owners, women in transition, those considering establishing a trust, philanthropists, foundation and endowment trustees and board members, and the emerging affluent. “We also have a growing institutional business that allows us to better serve the business community by offering conflict-free, indepen-

dent advice to businesses as well as qualified and non-qualified retirement plan clients,” says Barlean. “We currently have more than 250 retirement plans with US$3bn in assets.” The depth and breadth of professional expertise at Moneta Group is extraordinary. The firm holds over 180 professional designations including CFA, CPA, CFP, JD, AWMA, PFS, CLU, MBA, MA, and AFI. Moneta Group’s teams specialise in: family CFO services, helping clients build comprehensive, long-term plans; trust administration; insurance planning; education funding; business planning; retirement planning; multi-generational planning; institutional consulting; investments; financial independence; estate planning and philanthropy; proactive tax planning; and risk management. Moneta Group’s overriding philosophy, Barlean says, is to treat each client as an individual. “We see each client’s goals as distinctive: like fingerprints, no two are alike. Our clients’ plans must be equally unique. As Family CFOs, we believe our most important role is to serve as each client’s advocate. We defend, promote and protect their

interests and personalise our relationship with them to ensure that their specific needs are met beyond their expectations.” Moneta Group believes a key strength in the wealth management world is developing strong succession plans for advisor teams, Barlean says. “This ensures that multi-generational relationships can be made with families that are served. This is integral to remaining independent and to serving clients for generations to come.”

Contact name: Emily Barlean Email: ebarlean@monetagroup.com Tel: +1 314 244 3382 Web: www.monetagroup.com Address: 100 South Brentwood Blvd, Suite 500, Clayton, MO 63105 USA

wealth&moneymanagement2014 | 39

Best Provider for Trading Templates, USA

NEXT LEVEL TRADING Next Level Trading is the premier day trading education and training company. Its founders have 20+ years of combined market knowledge with day trading and swing trading systems. We caught up with founder Don Turner to hear about the company’s recent success

on, please tell us a little about your firm, your clients and the services you offer.

Next Level Trading was founded in 2012 with the mission to develop a training program with simple rules for entry so that anyone could learn to trade profitably. Our trading templates and training program allow us to pinpoint our entries to increase the odds of success. We work with traders to develop simple to follow repeatable rules with high odds of success.

trading template, and the courage to allow me to run a live training room. Annie H and Joan L, who were students in that first room, spent countless hours testing everything live, suggesting changes, improvements, and tweaks with the goal of always simplifying, and Julia W, also a student in that first room who has become a successful trader and mentor to other members. Can you tell us about any recent developments in your business over the past year?

We specialise in day trading futures, but our wave analysis techniques are appropriate for any instrument, and any time frame.

After two years of testing the training program, and the entry templates with students in a live environment, we were able to release to the public, prop firm level training and tools to allow a high percentage of traders to trade with confidence.

How do you feel to have been named Best Provider for Trading Templates, USA?

What are the main factors or outside influences that affect businesses working in the

My initial response is surprise. There are many providers of quality templates. Being named the best is an honour. Winning this award is validation that is possible for anyone to learn how to trade profitably. To what do you most owe this award win? Are there any specific areas you’ve focused on that have led to this success? Not high IQ, but, firstly, hard work studying charts, testing ideas, confirming, and testing again. Secondly, people. First, Sean M, who taught me the fundamentals of wave to wave analysis, had the foresight to challenge me to build a

40 | wealth&moneymanagement2014

“

Good business is honest business. Say what you do, do what you say

“

What specific areas do you specialise in?

wealth & money management arena? How do you deal with them? Most factors that affect us are beyond our control, so we rely on price action to determine our plan. We can track price. We can’t change economic policies, or how price moves. We can only react. Tell us about your firm’s overriding philosophy. How do you strive to operate with regards to your clients and peers? Our philosophy is to provide the highest quality, well tested product, combined with the best service in the industry. To always strive to take everything we do to the next level. When it comes to your industry, what, in your view, makes a good business? Good business is honest business. Say what you do, do what you say. What sets your firm apart from your competitors and peers and how do you use this differentiation to your advantage? Our commitment to the customer sets us apart. Their success ensures our success. What have been the most prevalent trends in the money management industry over the past 12 months? The continued move from full service brokers, to index fund investing.

What developments or changes do you see having the biggest impact on your business and industry over the coming year? More and more investors and traders will become self-directed. This offers tremendous opportunity for quality trainers and developers to help more people control their financial futures. Do you have any exciting plans or developments set to happen in your business over the coming year? Our current plans are to further refine the training program, and we are in the early stages of development of a new wave analysis tool and prognosticator. We donâ&#x20AC;&#x2122;t use Elliott Wave, but a unique new calculated wave analysis, and if we can complete the new tool, it will be the first of its kind.

Contact name: Don Turner Email: info@nextlevelfuturestrading.com Web: www.nextlevelfuturestrading.com Twitter: @nxtlvltrdr

wealth&moneymanagement2014 | 41

Best Private Bank, Luxembourg & Commitment Award for European Banking

KBL EUROPEAN PRIVATE BANKERS

KBL epb is a pan-European private banking group focused on meeting the needs of aspirational individuals and institutions. Headquartered in Luxembourg, we serve our clients through an operational model that allows us to combine global perspective and local insight

n behalf of everyone here at KBL European Private Bankers, we are pleased to be named Best Private Bank, Luxembourg, and to accept the Commitment Award for European Banking. As the leading pan-European private banking group headquartered in Luxembourg, we draw upon a knowledge base that combines deep domestic market insight and broader international perspective. With a multi-local presence spanning nine countries in Europe, we harness truly pan-European expertise to provide optimal service to our HNWI clients, both in our domestic markets and in hubs such as Luxembourg, where our client base reflects the diversity of our wider network. Today’s clients are not concerned with borders and time zones; they want freedom and accessibility. As a pan-European private banking group, we have taken steps to streamline our services, pool knowledge and establish seamless communication channels to ensure that we best leverage our group resources to meet these evolving needs.

42 | wealth&moneymanagement2014

Building strong individual relationships is the core focus of our group, which has been collectively serving private clients for well over half a millennium. Whether based in London, Lyon or Luxembourg, our private clients all receive the same high level of personalised attention. The KBL epb banking experience is founded upon a long-term, one-to-one relationship with a private banker who understands each individual client and provides appropriate solutions to meet their ongoing needs and lifelong ambitions. In addition to our core business in private banking, we provide services to institutional and professional clients through our Asset Management, Global Markets and Life Insurance business lines. Our unique value proposition is to integrate these competencies – providing “one-stop-shop” solutions for a client base that includes individuals, business owners and families, as well as institutional clients, family offices, foundations and external asset managers.

At KBL epb, we understand the importance of attracting and motivating diverse, highly skilled staff. That’s why we make significant investments in lifelong training and development for our employees. We are honoured to receive these awards in recognition of the effort our people make every day to provide superior service to our clients.

Contact name: Nicholas Nesson Email: nicholas.nesson@kbl-bank.com Tel: +352 4797 2065 Web: www.kbl.lu Address: 43 Boulevard Royal, L-2955 Luxembourg

wealth&moneymanagement2014 | 43

Best Private Bank, Portugal

MILLENNIUM BCP Portugal’s largest private bank, Millennium bcp is a specialist in investment advisory and discretionary management, managing clients’ assets in a simple, independent and transparent manner

irstly, tell us about your reaction to winning this award and how important or beneficial awards like this are, both to individual businesses and the wider industry. We felt very proud. It was seen as the recognition of the merits of our strategy that puts together excellent client service, tailored advice and an independent product offer. This award is a clear incentive to implement the best practices in terms of client service. To what do you most owe this award win? Are there any specific areas you’ve focused on that have led to this success? We believe the award is mainly the recognition of our team work and our ability to deliver superior products, through structured services – advisory and portfolio management - that are always based on client knowledge. Tell us a little about your firm, your clients and the services you offer. Millennium bcp is Portugal’s biggest prvate-owned bank with a relevant market share in the local banking industry. It is also a reference institution in Europe and Africa, through its banking operations in Poland, Switzerland, Mozambique

44 | wealth&moneymanagement2014

and Angola. All these operations trade under the Millennium brand. In the Private Banking/Wealth Management business we strive to build long term relationships with clients and to provide financial services that are tailored to individual needs. This explains why each Advisory or Portfolio Management client benefits from a dedicated Private banker and Investment Specialist, both committed to deliver banking services and investment solutions based on a suited risk profile and on extensive diversification - asset class, geographical, style of management, etc. We advise and manage clients’ assets in a simple, independent and transparent manner. We offer a structured open architecture and diversified portfolios with the goal of achieving sustainable long term performance. Our specialized asset allocation and manager selection teams have a reliable track record of adding genuine value to our service to clients. Tell us about any recent developments/success in your business over the past year. Over the past twelve months we were able to implement an effective client acquisition strategy and to increase our share of wallet in existing clients as a result of the robustness of our client

service and product offer. The proximity to clients and our expertise in financial markets mean that we always have our finger on the pulse. Do you have any exciting plans/developments set to happen in your business over the coming year? We continuously evaluate our services and strive to improve and enhance their effectiveness in order to increase the involvement with our existing clients. Simultaneously, we will continue to gather client information and improve our segmentation to target new clients – enlarging the client base. In addition, in a challenging environment of ultra low interest rates we will continue to search for diversified solutions that will help our clients preserving and growing their wealth without taking on board unnecessary market or liquidity risks. What specific areas do you specialise in? We are seen as specialists in investment advisory and discretionary management. Client profiling is the basis of our investment services. Our investment advisory service is based on a regular dialogue between clients, private bankers and investment specialists.

Our advice is always expressed through personalised investment proposals prepared by an investment specialist. We also offer discretionary mandates that provide robust investment solutions in which we apply our tactical asset allocation and manager selection expertise in order to allow clients to benefit from the market performance within a framework of risk control. We put risk management at the core of our investment strategies, constructing portfolios around the most relevant definition of risk: the maximum expected loss that a client can tolerate within a specific investment horizon. What are the main factors or outside influences that affect businesses working in the wealth & money management arena? How do you deal with them?

When it comes to your industry, what, in your view, makes a good business? An effective investment advisory service means taking an all-round approach when assessing and advising clients, so as to ensure that their requirements are consistently monitored and met by personalised solutions. Teams of economists, analysts, investment specialists and other expert professionals offer clients an investment framework that puts at their disposal best-inclass resources. Independence allows us to design effective solutions. Tell us about the culture within your firm and the things you do to maintain and develop it. How does it contribute to your ongoing success?

Our state of the art approach aligns our services with our international competitors’.

Respect for others is a principle that inspires us. We are a responsible actor in society and believe that our existence only makes sense if we contribute to the common good. We seek to see the world through our Clients’ eyes because we aspire to satisfy all their investment needs. We strive to deliver the best products and services and we persistently seek new solutions, as long as these are better solutions. We want to develop lasting relationships. The trust of our Clients is our most valuable asset, the one true tribute to our performance and that constantly drives us.

Tell us about your firm’s overriding philosophy. How do you strive to operate with regards to your clients and peers?

What sets your firm apart from your competitors and peers and how do you use this differentiation to your advantage?

Client focus, trust, independence, excellence and responsibility are the building blocks of our service philosophy. We listen to our clients and devise an investment strategy to support their objectives; we build a lasting relationship based on trust, privacy and discretion; we tailor our service to client circumstances and requirements; and we respond to changing financial needs and follow and implement banking innovations.

As a Wealth Manager, our priority is to build close relationships with our Clients over the long term. Our clients can always rely on their private bankers’ personal skills and on their advisor’s technical skills to come up with a suited solution. We are committed to advise clients in a simple, independent and transparent manner.

Over the last few years, working in the Wealth Management arena in Portugal has been challenging as a result of a weak macroeconomic environment and the financial weakness of some of our banking competitors. We’ve been able to adapt our offer and services, and our clients understand that our approach to investing is independent of the developments of the peripheral economies.

What have been the most prevalent trends in the money management industry over the past 12 months? Recent instability lead clients to understand the value of diversification and independence. Being two of the key building blocks of our services, we had a first move advantage and benefited from the proactive identification of these considerable changes in clients’ preferences. What developments or changes do you see having the biggest impact on your business and industry over the coming year and where do you think the biggest opportunities – and challenges – will lie? We think that the biggest challenge, which is also the biggest opportunity, is to advise and manage portfolios in an ultra low interest rate environment. Our diversification approach and access to specialist alternative managers will continue to help us delivering solutions aligned with our client’s objectives and expectations. In a persistent uncertain environment, we will continuously monitor our long-term investment strategy and try to identify new trends.

Contact name: Vasco Rebello de Andrade Email: v.r.andrade@millenniumbcp.pt Tel: +351 211 147 220 Web: www.millenniumbcp.pt Address: Rua Augusta, 84 / Piso 3, 1100 - 053 Lisbon, Portugal

wealth&moneymanagement2014 | 45

Best Family Office Service Provider, Canada

INVESTAFLEX

Investaflex Financial Group Ltd is built on understanding what is important to its clients and why, and then structuring their affairs to align their value with their values. We talk with Investaflex Senior VP Violet Smith about how the firm crafts lasting legacies for their family office clients

Since the launch of the VFO in 2004, it has been an incredible success story, empowering Investaflex in providing leading holistic and collaborative solutions for business families.

“It also recognizes service excellence and the relationships that we have built with client families to deliver family wealth optimization.”

“The result is a truly multidimensional collaborative solution leveraging the expertise of all of the advisors, and not a result restricted by the vision of a perceived quarterback!”

roud to have been selected in the category of Best Family Office Service Provider, Canada, Violet believes the recognition is the culmination of more than 10 years as Canada’s first and leading collaborative virtual family office (VFO) platform.

Key to the development of the VFO was Investaflex President Malcolm Ross, CFP, CLU, TEP, CFBA. Introduced by Violet, the multi-award-winning advisor, author and speaker had the vision to develop the innovative platform. Mr Ross said: “When I first came to understand the role of the family office in helping business families navigate the challenges of succession and wealth transfer I realized that every business owner should have access to the services. However, they were almost exclusively the domain of the ultra-affluent. In order to develop a more scalable and deliverable platform I envisaged we could substitute the physical with the virtual accessing the existing trusted advisors and creating an environment for collaboration, thus providing the client, the business and the family with completely objective and integrated recommendations,”

46 | wealth&moneymanagement2014

a cash flow plan to satisfy the needs of the family members and an estate distribution plan reflecting how all assets will be apportioned to all beneficiaries regardless of the structural unit in which their interest is held. This allows us to create an estate equalization model reflective of the annual value changes and will avoid the challenges sometimes arising from significant changes in value in different assets commonly resulting in family conflict.”

With Canada witnessing the most significant transfer of wealth in its history between generations, family offices and family business advisors are more essential to the decision-making process than ever. “We are there to assist in developing a process for transition, by defining the role and purpose of the business within the family. It is this dichotomy of the role of the business in the family, and the family in the business that needs to be explored and agreed by all stakeholders. The Investaflex process is built around The Real Wealth Equation which defines the family purpose, values, priorities and actions to build a common and agreeable understanding. “Working with the accountants, lawyers and other advisors through the VFO the Investaflex team create an annual tax plan for the family and business,

Contact name: Violet Smith Email: violet@investaflex.com Tel: +1 604 331 2520 Web: www.investaflex.com Address: 938 Howe Street, Suite 308, Vancouver, BC V6Z 1N9 Canada

Best Insurance Advisors, Canada

INVESTAFLEX

For over 20 years, Investaflex Financial Group Ltd has been providing leading edge solutions for family business succession, wealth creation and protection, and estate equalisation using integrated tax structuring and insurance strategies. We catch up with Violet Smith CFP, CLU, CHS, CPA-CGA, VP - Technical Services at the firm

dvising us that it is always an honour to be selected for an award, Violet says that the Investaflex Team were particularly delighted to have been selected in the category of Best Insurance Advisors, Canada. “Working with successful business owners and professionals, the Investaflex Team understands the importance of family relationships and the inherent expectation of the Principle of Equity and Fairness within families. Investaflex takes the time necessary to understand the goals of all the family members and how the value of the family can be aligned with their values. It is this clear understanding of the family drivers that differentiates the Investaflex team in the minds of clients - result in the building of lasting trust-based relationships focused on the best client family outcomes.”

tax treatment; tax afflicted, deferred, preferred and exempt. By developing a tax overlay to investments which recognises the tax treatment, Investaflex is able to reduce taxation and increase after-tax disposable income, and the after-tax distributable estate.

tures and insurance in developing a holistic family optimisation plan.

“Insurance is primarily a tool for risk management. It is also a tax effective tool to guarantee estate liquidity. Investaflex has an intimate understanding of the technical design and tax applications of the most sophisticated insurance products. With a unique ability to integrate advanced tax structuring and sophisticated policy design Investaflex create enhanced benefits for our clients.”

“With Canadian tax regulations currently being updated to reflect changes for tax exempt accumulation within life insurance policies, clients who are looking at updating or reviewing their life insurance and estate planning objectives need to do so before 2015.”

Through the use of its proprietary financial projection software which integrates detailed tax analysis, together with investment and insurance information, the Investaflex Team is able to model different scenarios and empower client families to make informed decisions.

Though the major changes in the world economy and investment solutions since 2008 have led to changes in the industry the three certainties of death, taxes and change remain. However, many people still defer their estate planning decisions until a major life event triggers their action. This procratination in planning frequently results in in denying them access to life and health insurance options,

“The proprietary software breaks down the investments and sources of income into their

Investaflex has educated over 750 accountants in public practice about the importance of tax struc-

“The continued success of this has resulted in over 80% of the planning engagements for Investaflex being by referral from accountants.

Contact name: Violet Smith Email: violet@investaflex.com Tel: +1 604 331 2520 Web: www.investaflex.com Address: 938 Howe Street, Suite 308, Vancouver, BC V6Z 1N9 Canada

wealth&moneymanagement2014 | 47

Best in Asset Protection for 2014, USA & Tax Planning Team of the Year, Florida

PROVISE MANAGEMENT GROUP ProVise is an SEC Registered Investment Advisor serving approximately 900 clients and managing US$1.14bn as of 30 June 2014. We take a team approach to personalized integrated financial planning through our 12 person professional team who have numerous professional designations and educational degrees with almost 300 years of experience. They are backed up by an outstanding administrative staff

roVise Management Group, LLC is a nationally recognized, fee-based financial planning and investment management firm located in Clearwater, FL. Since our founding in 1986, we have measured our success by the success of our clients. Our mission is to contribute to the financial freedom of our clients by providing personalized, independent, financial planning and asset management services through the many phases of life. We work at a fiduciary standard of care with both individuals and institutions in a variety of capacities. Over the years we have received numerous recognitions for our work and are honored by the receipt of the Wealth and Money Management Award this year. We have been quoted in the Wall Street Journal, USA TODAY, Investment News, Business Week, Bloomberg, and many more as they recognize our expertise and ability to take complicated subjects and explain them in a relaxed easy style. More can be learned by going to www.provise.com. As financial planners, we think it’s important to have a written financial plan. We believe that investment management, retirement planning,

48 | wealth&moneymanagement2014

estate planning, asset protection, etc. are subsets of one’s overall financial plan, not the other way around. Each of our customized portfolios is based upon our individualized client in order to help them achieve their hopes, dreams, and aspirations. Financial planning is a process, not a one-time event and thus we think “financial planning for your life... and your lifestyle”SM is at the heart of what we do. Although individuals are at the core of what we do, approximately 15% of our clients are corporations, institutions or foundations. Our Personal Financial Officer (PFO)™ program is designed to serve corporate officers and key executives. Every CEO knows the importance of a CFO and the same is true in one’s personal life. As the PFO™ for these executives, we free them from concerns about their personal finances so they can concentrate on developing their wealth within the business. Our 401K Fiduciary Audit process uncovers the hidden costs inside of these programs, makes sure that all services are being provided, and of course analyzes the mutual funds for both performance and cost. The plan is benchmarked against other

plans of a similar size. We identify ways to improve the program, thus helping trustees fulfill their fiduciary responsibility. We serve numerous not-for-profit foundations and help guide them through successful investment of their endowment and other funds. But ProVise this isn’t just about our clients. It is also about the community in which we live and serve. We encourage all of our employees to be involved within the community, giving them time and resources to help support these worthwhile endeavors. In short, ProVise is a holistic financial planning firm committed to its clients, its employees, and its community. Contact name: V. Raymond Ferrara, CFP Email: ferrara@provise.com Tel: +1 727 441 9022 Web: www.provise.com Address: 611 Druid Rd E, Suite 105, Clearwater, FL 33756

wealth&moneymanagement2014 | 49

Most Trusted Wealth Advisory Team, New York & Most Trusted Wealth Manager of 2014, USA

CIRCLE WEALTH MANAGEMENT LLC Circle Wealth Management was formed when its founders, unable to find a wealth management firm that met all their criteria, decided to start their own. We spoke to Maria L. Chrin, Managing Partner, about the firm and its continuing success

amed as Most Trusted Wealth Advisory Team, New York and Most Trusted Wealth Manager of 2014, USA, Maria L. Chrin, Founder, Circle Wealth Management, said the firm was honoured by the recognition. “In the wealth management industry, many of the awards are based on assets under management and firm size – these awards unfortunately do not give any indication of the caliber of the team behind the management of assets and the quality of their service offering. We believe that awards like this one which recognize the intangibles, such as being a trusted advisor, help to raise the bar in the industry by highlighting other areas that are important to investors.” With a stated mission to help families preserve and grow their assets, Circle Wealth defines success in each client’s terms. The firm was named “Circle” to symbolize continuity, community, comprehensiveness and collaboration - the foundation of their approach. “We are fortunate to work with clients who select us to be their ‘co-pilot’ in navigating the complexities of financial markets and the implications for their decision-making.” Maria explains, “We launched our firm in 2007 after an exhaustive five year search. We had been looking for a wealth advisory firm for our own families and had several selection criteria, including: 1) trusted, independent, objective advice; 2) excellent performance results; 3) extensive experience

50 | wealth&moneymanagement2014

managing wealth; 4) ability to translate complex concepts into actionable steps; 5) advisors who were ‘eating their own cooking’ and had ‘skin in the game’; 6) a practice of client empowerment through financial education and full transparency. We could not find a firm that met all of our criteria so we decided to launch it ourselves.” “Every day we synthesize economic and geopolitical events and determine if any portfolio actions are warranted. This nimble, flexible approach served our clients well during the 2008 financial crisis. Since then, we have grown from $200 million in assets under management to over $1.3 billion, mostly through client referrals.” In the past several years, numerous variables including tax law changes, unprecedented central bank interventions and economic and geopolitical events have increased the overall complexity of investing. Simultaneously, many investors have expressed a sincere distrust of the financial services industry given the poor advice received during and post 2008. Circle Wealth’s partners bring a different perspective to its clients. Having had extensive careers at Goldman Sachs and J.P. Morgan prior to Circle Wealth, Maria explained, “Unlike many investment advisers, our partners have structured financial products, advised on mergers and acquisitions, and directly managed portfolios. We believe that the experience of working with both issuers and investors enables our team to navigate well through

market complexities and translate them into decisions for our clients. “We are not afraid to go against consensus if we believe that doing so can protect the downside or enhance performance. Our interests are fully aligned with those of our clients. This creates trusted relationships that are enduring and provide peace of mind to clients.” With an eye on the future, Maria sees demographic changes as having a tremendous impact on the industry and the business in coming years. “Women are increasingly controlling a greater percentage of the world’s wealth. In 2009, the Boston Consulting Group estimated that women controlled 27% of the world’s wealth – approximately $20 trillion. By 2030, they predicted that womencontrolled wealth would be $75.4 trillion based on a conservative annual growth rate of 6%. “Unfortunately, as we have experienced ourselves, women have historically been underserved by the financial services industry, with the ‘women’s programs’ typically being nothing more than a marketing effort. We believe that firms like ours that genuinely understand how to work with women will be well positioned for this demographic shift. 75% of our team and 80% of our clients are women. Empowering clients through financial education and collaborative decision-making have always been at the core of what we do.”

interests “Our are fully aligned with those of our clients

“

Contact name: Maria L. Chrin Email: mchrin@circlewm.com Tel: +1 212 283 1000 Website: www.circlewm.com Address: 126 East 56th Street, 21st Floor, New York, NY 10022 USA

wealth&moneymanagement2014 | 51

Best Private Bank, Denmark & Best Global Team: Private Banking

NORDEA NORDEA PRIVATE PRIVATE BANKING BANKING

Nordea is the largest and fastest-growing wealth manager in the Nordic region. Head of Private Banking Denmark Hans Henrik Klestrup tells us more about its continuing success

o win an award like this demonstrates that Nordea Private Banking has a business model that creates recognition in the industry.

We operate in a competitive industry with very quality conscious customers. To win this award proves that Nordea Private Banking delivers the services and products that customers demand. Nordea has a vision to be acknowledged as the leading wealth manager in all Nordic markets, with global reach and capabilities. Nordea Private Banking plays an important role in achieving this ambition. To reach this position, Nordea continuously ensures that its business model provides the customers with high-quality advice, a high standard of service and a broad and deep offering of high-quality products through a cost and capital-efficient value chain. Nordea Private Banking provides strategic advice, full-scale investment advice and daily banking services to wealthy individuals, families, business owners, trusts and foundations. During the past 10 years we have had a leading market position and we have doubled the number of private banking customers in Denmark to approximately 45,000

52 | wealth&moneymanagement2014

customers. Our customers are served by highly skilled investment, wealth and bank advisers. During the past 12 months we have maintained our focus on a common initiative in private banking, aiming at creating meetings worth sharing in each and every interaction with our customers. Our main objective is to exceed our customersâ&#x20AC;&#x2122; expectations by fully understanding their needs and thereby providing services and solutions that create value to each customer. Another focus has been on further developing our discretionary products for the benefit of the increasing number of customers wanting less involvement in relation to investment decisions. This spring we launched a new value proposition for business owners, containing, among other things, special professional events and a publication targeting this type of customers. Internally we have increased focus on further developing our cooperation with corporate banking in order to create the best possible customer experience for business owners at Nordea. Furthermore, we have improved our asset allocation concept in order to become even more cus-

tomised, for example better risk description. The target has been to improve our ability to meet our customers demand, provide an improved customer experience and apply a new approach to investment advice in order to maximise the impact of our advice. Over the last five years, Nordea Private Banking has been ranked number one in the yearly competitor survey in Denmark conducted by an external vendor, primarily because Private Banking Denmark excels notably in adviser relationship compared to our main competitors.

Contact name: Hans Henrik Klestrup Email: hans.henrik.klestrup@nordea.com Web: www.nordeaprivatebanking.com

Best UK Portfolio Managers for Private Clients

R C BROWN

R C Brown Investment Management is owned and managed by an experienced team of successful City fund managers who have built a business that opens up the potential for individuals, charities and pension funds to have their long term investments run in a rigorous, well diversified and risk aware manner

istorically, R C Brown, the Bristol-based investment management firm, has been best known for its institutional and charity portfolios. But, since 2010, the firm has been steadily making a name for itself in the private client sector, particularly where IFAs are looking to outsource part of their investment portfolio management. “We are purely a discretionary investment firm, so IFAs don’t feel threatened by us for the ownership of the client,” says Robert Clark, Sales and Marketing Director at R C Brown. “We are here to support the IFA for portfolio management, and they have a much broader spectrum of advice responsibilities that we don’t offer, so the client relationship is definitely with them.” The firm is “absolutely thrilled” to have been named Best UK Portfolio Managers for Private Clients, says Clark. “It is reassuring to know that all sizes of firm are considered and that outstanding service is recognised. Awards like these are becoming more important when clients are comparing different firms and propositions.” Clark feels that the firm’s work on its Private Client proposition, which it relaunched in 2010, specifically with RDR and supporting IFAs in mind, was instrumental in its success in the Wealth & Money Management Awards. “We have been

recognised as one of the fastest growing firms for Private Clients in the past couple of years, which we put down to our broad depth of investment experience and very transparent ‘all inclusive’ approach to fees.” R C Brown’s specialisms revolve around the UK investment markets, particularly IPOs, forced sales and additional shares for capital raising. “These have traditionally been the preserve of wholesale/ institutional investors,” says Clark. “But our years of experience enable us to share these opportunities with private clients as well.” The firm’s proposition is all about flexibility for the client & IFA, Clark says. “We aren’t selling a fixed product; we will create a tailored portfolio for an individual client, from £15,000 upwards. That is extremely useful for an IFA who might have existing clients with other assets that they haven’t previously been able to advise on.” As an overriding philosophy, R C Brown believes in managing risk by maintaining broad diversification in its portfolios both at stock and asset level, says Clark. “By design, our portfolios are more diverse than many of our peers thereby lowering portfolio risk without impairing performance. We know our limitations and only invest directly in areas where we are close to the market and have significant

expertise; this is largely confined to UK equities and bonds. We delegate individual stock picking and trading in other asset classes to carefully chosen third party managers.” Clark says regulation is the biggest influence affecting businesses working in the wealth and money management arena. “Many of the changes with RDR were very well intended, but as usual the results haven’t necessarily been what was hoped for. Charging transparency is still very murky and we actively support the push for a ‘total cost to the client’ approach, rather than the current ‘well this is my charge, but that bit is someone else’s’,” he says.

Contact name: Robert Clark Email: robert.clark@rcbim.co.uk Web: www.rcbim.co.uk Tel: +44 (0) 117 989 7841 Address: 1 The Square, Temple Quay, Bristol BS1 6DG UK

wealth&moneymanagement2014 | 53

Best Real Estate Investment Trust, New York

KIMCO KIMCO REALTY REALTY CORP. CORP. With interests in 840 open-air shopping centres, comprising 121 million square feet of leasable space, Kimco Realty Corp. has been credited with initiating the rise of the Modern REIT Era. David Bujnicki, Vice President, Investor Relations and Corporate Communications, tells us about the company and its strategy for continued growth

imco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, New York, that owns and operates North America’s largest portfolio of neighbourhood and community shopping centres.

“Kimco has a good spread of risks across its portfolio,” Bujnicki continues, “in addition to a strong balance sheet with a conservative capital structure that includes a US$1.75bn credit facility that offers great liquidity.”

mix, lower operating costs and improved shopper amenities. As of June 2014, Kimco plans to invest over US$900m to increase the appeal, quality and value of its shopping centres. Earning returns on investment between 8% and 16%.

As of June 30, 2014, the company owned interests in 840 open-air shopping centres, comprising 121 million square feet of leasable space, across 41 states, Puerto Rico, Canada, Mexico and South America. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialised in shopping centre acquisitions, development and management for more than 50 years.

Kimco’s current strategy, he says, is based on TSR, an abbreviation which traditionally stands for Total Shareholder Return. For Kimco, it also stands for Transform, Simplify and Redevelop.

Asked how Kimco interacts and works with investment advisors and money managers, Bujnicki says the key is regular interaction. “Participating in management meetings, conference calls and property tours. We’re always open to encouraging participation.

The firm is an industry innovator which leverages its competitive advantages of size, relationships and experience to do what it does best – own and operate neighbourhood and community shopping centres.

Kimco has aggressively transformed its portfolio, focusing on great assets in great locations, which is demonstrated by comparing Kimco’s high-quality acquisitions with its sold properties since 2010: population is 15% greater, average household income is 38% higher, pro-rata rent per square foot is 60% higher and pro-rata occupancy of sold properties versus acquired properties 87% to 96%.

The company was founded in 1958. David Bujnicki, Vice President, Investor Relations and Corporate Communications, says Kimco initiated the rise of the “Modern REIT Era”with its successful IPO in November 1991, and now has 13,000 leases and a highly diversified mix of tenants, which number around 6,500. Anchor stores at Kimco’s properties include well-known national retailers such as Walmart, Home Depot and T.J.Maxx. The company is founded on three principles: integrity, with the highest standard of business ethics and in delivering the best possible value to its shareholders and institutional partners; creativity, with a deliberate strategy of opportunistic and strategic investments; and stability, in the strength of its diversified retail portfolio of high credit quality tenants and its pioneering history and experience.

54 | wealth&moneymanagement2014

“Transform means we concentrate on acquiring high quality properties with above-average growth in major US markets, with strong demographic profiles,” Bujnicki says.

“It’s vital to retain these relationships,” he adds. As for trends in the retail real estate industry over the past 12 months, Bujnicki says the market’s recent historic low level of new supply in shopping centres and increasing demand from retailers for high quality space has benefited Kimco. This can be seen in the fact that Kimco’s US properties currently have 95% occupancy. “Rent per square foot has also increased every quarter since first quarter of 2010,” he says.

“Simplify” refers to Kimco’s business model, which is simply to operate shopping centres in the US and Canada. “It’s easy for investors to understand our business model,” says Bujnicki. Kimco has also further simplified its business by focusing on US investments, reducing the number of joint ventures and increasing its own investment in the properties it manages.

Contact name: David Bujnicki

“Redevelop” refers to Kimco’s programme of redeveloping existing shopping centres, making them more attractive. This allows for the company to charge higher rents, improve the tenant

Address: 3333 New Hyde Park Road

Email: dbujnicki@kimcorealty.com Tel: +1-866 831 4297 Web: www.kimcorealty.com New Hyde Park, NY 11042 USA

The Marketplace at Factoria, Bellevue, WA. Kimco has 13,000 leases across the US, Puerto Rico, Canada, Mexico and South America

wealth&moneymanagement2014 | 55

Best Research & Consulting Firm for the Financial Services Industry, USA

KEHRER KEHRER BIELAN BIELAN RESEARCH RESEARCH & & CONSULTING CONSULTING Kehrer Bielan Research & Consulting provides the financial advice industry with insights based on a melding of research and experience in managing the delivery of investment, insurance, and wealth management services

ehrer Bielan Research & Consulting provides the financial advice industry with insights based on a melding of research and experience in managing the delivery of investment, insurance, and wealth management services. We provide performance assessment and benchmarking, human resource management and development, due diligence, consumer insights, and interpretation of industry trends through original research, unbiased consulting, and peer study groups. The firm’s principals – Kenneth Kehrer, Peter Bielan, and Jon Gabriel – have participated in the financial advice industry as executives, researchers, analysts, and spokespersons for over 30 years. Together, they bring a unique, unbiased resource and perspective through their original research, actionable advice and keen understanding of where the industry has been and where it needs to go. Dr Kehrer has been studying the transformation of banks and credit unions to financial services stores since the early 1980s. His research has influenced the metrics that a generation of industry practitioners now use to assess their businesses and assimilate best industry practices. He has also consulted for scores of banks and credit unions and over one hundred product and service providers – insurers, investment companies, securities firms, technology providers – on the development of strategies for distribution through financial institutions. In 2004 he received the Lifetime Achievement Award from the Bank Insurance and Securities

56 | wealth&moneymanagement2014

Association for his contribution to the industry. He earned a PhD in Economics from Yale University. Mr Bielan has been an active participant in the bank-owned retail investment industry since 1985. His roles have encompassed advisor, sales manager, and president of the retail broker/dealer for two of the 15 largest US banks. He has also had leadership roles in the retail bank, contributing a first-hand understanding of the paramount role of deposits and loans. At KBR&C, Mr Bielan’s focus is on growing investment, wealth management, and insurance businesses within banks, including complete business reviews, executing specific projects, and moderating industry study groups. Mr Gabriel is a seasoned securities and banking executive who combines financial analysis skills with decades of hands on management of investment services businesses inside financial institutions. He has been a senior executive at two savings banks, chief operating officer of the then largest third party broker-dealer supporting financial institutions, president of two large bank broker-dealers, and an executive at a regional management consulting firm where he consulted on asset/liability management, de novo bank formation, and investment advisory business. He has consulted for banks and credit unions on the decision to form a broker dealer as well as a large RIA platform provider and a major clearing firm. At KBR&C he manages the firm’s due diligence business. The principals are supported by an experienced

team that draws on a deep knowledge base from within and outside the financial advice industry. At KBR&C, we see five major levers for financial institutions to significantly grow their investment and wealth management services: • • • • •

growing the size and skills of their advisory force incorporating financial planning into the advisor’s way of doing business transitioning from transaction products to advisory products adopting technology to streamline operations and support the advisor-client relationship achieving better integration of the disparate bank businesses.

KBR&C organises its research agenda around these broad themes.

Contact name: Dr Kenneth Kehrer Email: ken.kehrer@kehrerbielan.com Tel: +1 908 347 8197 Web: www.kehrerbielan.com Address: 510 Meadowmont Village Circle, Suite 229, Chapel Hill, NC 27517 USA

wealth&moneymanagement2014 | 57

Best GIPS Consulting Firm & Best for Performance Measurement

THE THE SPAULDING SPAULDING GROUP GROUP The Spaulding Group, founded in 1990, is arguably the most influential performance measurement services firm in the investment industry. David Spaulding, Founder and CEO, tells us how its focus on money management is helping the Spaulding Group’s clients become more efficient and competitive

began our 25th year in business, and for most of this time have devoted 100% of our efforts to investment performance and risk measurement.

Everything we do is about performance measurement. We began as a consulting company, and we engage in consulting assignments on a regular basis. We consult to institutional asset managers, asset owners, custodians, high net worth and retail asset managers, broker/dealers, and software

Most performance measurement professionals around the world know about us, and the products and services we offer. This award provides an independent assessment of our abilities and status within the industry. The importance of investment performance measurement has grown consid-

i David. Could you please tell us a little about your firm, your clients and the services you offer?

“

and have such great passion for it. We offer more performance measurement products and services than anyone else, and provide a tremendous amount of content to our clients and the industry at large, through our journal, books, newsletters, blog posts, white papers, conferences, forums, and much more. Industry professionals know that if they have questions, we will most likely have the answers.

We offer more performance measurement products and services than anyone else, and provide a tremendous amount of content to our clients and the industry at large

How did you feel to be named Best GIPS Consulting Firm & Best for Performance Measurement? We’re extremely proud, humbled and excited to have been named for these two awards. We just

58 | wealth&moneymanagement2014

erably over the past 25 years, and we’ve been a big part of its growth. GIPS Verification is a huge part of our business, and we believe we are the premier GIPS verification firm in the industry. This award supports our beliefs. To what do you most owe this award win? This recognition is perhaps due to the fact that we take performance measurement so seriously,

“

vendors on a variety of issues. Our consulting practice includes two unique services: software certifications and operations reviews.

Can you tell us about any developments or successes for the Spaulding Group over the past year?

Much of what we do is about content delivery. Therefore it’s probably not surprising that we’re always looking for new ways to provide valuable, actionable content to our clients. A year ago we started a monthly webinar series (the Performance Measurement Think Tank) which allows members

to get their most pressing questions answered by our team of performance specialists. This has been extremely successful, with members from across the globe. Our Performance Measurement Forum is in its 17th year; we host meetings in both Europe and North America. It has been a tremendous group that brings together performance measurement professionals to address a variety of important topics. Looking toward the future, do you have any exciting plans set to happen in your business over the coming year? We are introducing a new version of the Performance Measurement Forum: the Asset Owners’ Performance Measurement Roundtable. Like the forum, it is a membership-only group. Although we have clients throughout the globe, we haven’t concentrated on areas beyond North America and Europe. We are now focusing more on the Australia/Asia region. We’ve conducted training there, and plan to continue to do so. We have also conducted consulting assignments in the region, and are hoping to attract verification clients, too. We also have other plans for the region, which we are not at liberty to discuss at this time. What are the main factors or outside influences that affect businesses working in wealth and money management? Providing accurate returns and risk statistics is very important, for both clients and prospects. The outside influences can be client and prospect requests, regulatory matters, and the desire to keep up with industry standards and “best practices.” In addition, the introduction of new security types, new investment strategies, etc., can also impact this segment. We deal with them by providing insights, instruction, and information as to how best deal with them; this is done via our various content channels, which include our conferences, forums, website, webinars, training, publications, verifications, newsletters, blogs, and consulting. Wealth and money management firms are looking for answers, and they’ve come to find that we are a great resource for them. Tell us about your firm’s overriding philosophy. While we’re passionate about performance, we’re also critically aware of our responsibility to the

industry. This means being willing to share our views, which at times may appear to be in conflict with our own business’s needs. For example, we strongly discourage our GIPS verification clients from having “examinations” performed, simply because we don’t believe they’re an investment for them, but rather an expense. We’re the only verification firm who has made this point clear. We expect our clients to work in an ethical and honest fashion, and we’re obligated to do the same. By being forthright about our thinking, even if it may not be popular or what others want to hear, we make it clear that in the end, it’s what’s best for our clients and the industry we serve that really matters. When it comes to your industry, what, in your view, makes a good business? To be a good business is to be a leader, and this can best be accomplished by being as involved as possible in the industry. We have, for quite some time, been the most innovative firm in our industry. We are constantly identifying new products and services, as well as providing enhancements to the ones we already offer. By being so devoted to this segment of the market, we understand the subject and what’s needed. For example, we came up with the certification program for performance measurement professionals (CIPM), which is now run by the CFA Institute. Our conferences offer much in the way of unique features, which our attendees, sponsors, and speakers find very appealing. Other vendors come to us for help in making their ideas known to the market, because they recognise the central role we play.

Contact name: Christopher Spaulding Email: cspaulding@spauldinggrp.com Tel: +1 732 873 5700 Web: www.spauldinggrp.com Address: 33 Clyde Road, Suite 103, Somerset, NJ 08873 USA

wealth&moneymanagement2014 | 59

Best Early Stage Technology Commercialisation Fund, North America

COTTONWOOD TECHNOLOGY FUND FUND With offices in Santa Fe and Albuquerque, New Mexico, and now also in Enschede, The Netherlands, Cottonwood Technology Fund is a seed and pre-seed stage technology commercialisation fund focusing on hard science. David Blivin and Ray Quintana, General Partners, tell us how the firm’s emphasis on early stage investment is helping to drive industry results

ottonwood Technology Fund (CTF) is an early stage pre-seed, seed stage venture capital fund with an emphasis on hard science. Technology and industry agnostic, the firm provides a proven complete funding platform to support early stage technology through the initial “valley of death” and manage them all the way to an exit, such as an M&A transaction or an IPO. CTF’s portfolio is diverse, spanning the materials, nanotechnology, cleantech, photonics and healthcare sectors. “We focus first on the potential of the technology regardless of the industry,” says David Blivin, General Partner at the firm. “In short, our specialty is in very early stage hard science technologies. We particularly focus on finding these compelling opportunities in under resourced areas and recruiting the necessary resources to catalyse their success.”

“

For 2014, CTF’s companies will raise over US$100m in follow capital, over US$200m since the firm’s initial funding rounds. “This is based on the closing of rounds currently being finalised and one company who has filed for a public offering projected to close by early November,” General Partner Ray Quintana says. “This represents over a 15X leverage on our capital after only four years. We also recently announced a first close on a European fund, headquartered in Enschede in the Netherlands.” Quintana says the firm expects a successful IPO for one of its companies in the next 60 days. “In addition, with the first close on our affiliated euro fund, we expect a final close by July 2015 and a first investment in Q1 2015.” With a focus on finding and supporting opportunities which have category leadership potential,

CTF partners with top professionals and syndicate investors who are able to lead strategy and develop business models that can affect the global marketplace, says Blivin. “We focus on building world-class companies, not looking for the first exit opportunity. This sets a tone at our companies where they can focus on building their companies to compete to win in their markets. Attractive exit opportunities will naturally present themselves when companies are making an impact in their competitive marketplace. “Our overall philosophy is to be a lead catalyst for providing and recruiting the complete resources needed for our companies success – capital, management and customers. In many cases we are founders or co-founders with the entrepreneur. This means we also help shape the initial strategic plan and support recruitment of initial senior manag-

We focus on building world-class companies, not looking for the first exit opportunity. This sets a tone at our companies where they can focus on building their companies to compete to win in their markets

“

60 | wealth&moneymanagement2014

ers. As for our peers, we are strong believers in syndication and working with partner firms to bring additional resources and networks to help insure the probability of success for our companies.” CTF is different to its rivals, says Quintana, in its willingness to support breakthrough hard science with disruptive potential at the earliest stages – and particularly outside the centres of capital, experienced management and customers. “These are often platform technologies with broad application across multiple industries. This requires early and regular assessment of where the initial applications can be best focused for near term market acceptance and credibility. Because our companies are based outside the primary resource centres, we must consider and support the recruitment of the full spectrum of resources needed for success from start-up through exit.” A good business, says Quintana, is one that has a strategy and process that is proven and has internal mechanisms that enable constant refinement and improvement to the model. “Many VCs have shifted to later stage and attempt to find new entrants into “hot” sectors. That is a model that puts too much capital at high prices into sectors which will have limited large successes, and therefore has difficulty generating consistent high returns. Our model has generated top decile performance in two different under-resourced geographic regions (southeast and southwest) for over a decade.”

On being named Best Early Stage Technology Commercialisation Fund, North America, Blivin says, “We were very honoured to receive this award. It is important for the industry and individuals to have independent evaluation and recognition of investment managers who are excelling in the industry and communicate that back so individuals and businesses are able to access and leverage their success.” One of the main factors leading to the award win was the firm’s overall platform approach to early stage investment, he says. “We have a strategic framework that allows us to drive top industry results from regions that don’t have the benefits of Silicon Valley’s or Boston’s resources.” Over the past 12 months, Quintana feels the most prevalent trends have been capital light (software) and later stage, even in industries like energy where significant early capital has been invested previously. “This has left hard science companies with limited interest from the investment community, particularly at the earliest stages. Yet we are finding great success here by reverting to the historical roots of the industry, finding and supporting breakthrough science using a value-added approach of partnering with these companies to help recruit all resources necessary for their success. Finding success in doing this outside of the primary resource centres speaks to the power of our approach.”

Looking toward the future, Blivin feels that the coming year will play out much like the last – with not enough money invested during the early rounds, and an over-concentration on large later stage rounds. “This leads to a lack of good companies in the pipeline to feed these later stage funding rounds,” he says. “Our opportunities lie in not following the crowds and doing the hard work of discovering and supporting new disruptive technologies from their founding to their impact.”

Contact name: David Blivin Email: dave@cottonwoodtechnologyfund.com Tel: +1 505 412 8537 Address: 228 Griffin Street, Santa Fe, NM 87501 USA Contact name: Ray Quintana Email: ray@cottonwoodtechnologyfund.com

Tel: +31 6 28 25 63 46 Address: PO Box 545, 7500 AE Enschede, The Netherlands Web: www.cottonwoodtechnologyfund.com

wealth&moneymanagement2014 | 61

Best Labour Market Pension Fund, Europe

PENSIONDANMARK PensionDanmark is a Danish industry-wide pension fund established in the early 1990s. Membership is determined by collective agreements between employers’ organisations and unions. The fund has more than 650,000 members with total asset of more than DKK165bn (¤20bn) – and growing fast. Torben Möger Pedersen, CEO of PensionDanmark, tells us more

t PensionDanmark, we’re proud to win the 2014 Wealth & Money Management award for Best Labour Market Pension Fund – Europe. It reaffirms that the initiatives we as a pension fund have taken to meet the challenges of low bond yields has proven both prudent and successful. PensionDanmark offers defined contribution pension plans, insurances in the case of death, disability and critical illness as well as healthcare products. The funds key deliverables are managing the pension plan effectively at low costs and investing the customers fund in the best responsible way given the current economic climate. The fund setup of a defined contribution plan on a mark-to-market basis without any guaranteed minimum yields, limits the restrictions on investments from solvency regulation and thus maximum freedom in setting the optimal asset allocation. By nature, the fund’s investment style is contrary and value orientated. Investments are managed in a lifecycle product. PensionDanmark believe the best investment results are most likely to be achieved with a relatively small and focused investment team combined with focused outsourc-

62 | wealth&moneymanagement2014

ing to external managers where it can contribute to risk diversification and overall performance. In 2009/2010, PensionDanmark implemented a change in the asset allocation moving away from government and mortgage bonds and instead identifying asset classes and assets that have a stable cash flow with very little correlation to the overall business cycle, hence assets that can act as a stable base in the portfolio and supplement more risky investments in equity and high yield bonds.

has continued to leverage the experience from previous deals and been able to venture out into investments new areas of renewables. Currently the fund has invested in 1820 MW of onshore and offshore wind farms, bio-mass power plants and other renewable energy assets as well as power and gas grid assets. Direct infrastructure investments within renewables and grids are focused within Northwestern Europe and North America.

The overall goal for the strategic asset allocation is to allocate 10% for investments in prime Danish real estate (primarily commercial) and 10% for direct infrastructure investments (including renewable energy). The opportunities for these types of investments have come about due to high levels of government debt, (energy) companies wanting to reduce balance sheets in combination with increasingly stringent capital requirements for long dated loans. Back in 2010 PensionDanmark was one of the first pension funds to invest directly in offshore windfarms. In the past couple of years PensionDanmark

Contact name: Jens-Christian Stougaard Email: jcs@pension.dk Tel: +45 337 480 10 Web: www.pension.dk Address: Langelinie Alle 41 DK-2100 Copenhagen Ø Denmark

Best Indian Bank for Wealth Management

STANDARD STANDARD CHARTERED CHARTERED Standard Chartered Bank in India is the country’s largest international bank (in terms of branch network) with 99 branches across 42 cities and India is one of the Group’s key markets worldwide. Vishal Kapoor, Regional Head, Wealth Management, South Asia, tells us more

e are extremely pleased to be named Best Indian Bank for Wealth Management. Awards instituted by globally reputed and respected organisations like Wealth & Finance International are a re-affirmation of our strong wealth management offering and provide greater conviction to all our internal and external stake-holders in the efficacy of our business practices. This award is a testimony to our strong Investment process which endeavours to provide relevant and timely solutions to our client, based on their individual profile and unique requirements. We are an international bank that has operated in some of the world’s most dynamic markets for over 150 years. We’ve aimed to lead the way by keeping a focus on building deep and long-standing relationships with our clients and our customers. We’ve built our business by building relationships. So our strategy is simple: focus on what’s important for our client, not what’s profitable for us. Standard Chartered banks the people and companies driving Investment, trade and the creation of Wealth across our markets in Asia, Africa and the Middle East. We offer services across Corporate & Institutional Clients, Commercial & Private Banking

Clients as well as Retail Clients. In India, we have enjoyed a heritage of over 150 years, during which we have built deep, longstanding relationships. Our clients know us and they trust us. Being part of a large universal bank, we have the ability to connect our clients to the growth markets and key financial centres of the world across our footprint. We offer a full range of capabilities and solutions to support our clients’ specific needs, backed by a stringent due-diligence process for selecting the best products.

future goals by combining Standard Chartered global resources and the knowledge of the growth market of the world with a disciplined approach to investment. With a dedication to delivering superior service, we aim to turn our clients’ vision into a reality. We believe in the premise that with wealth comes responsibility and that is a responsibility shared between the Bank’ staff and its clients. Standard Chartered Bank has a sustainability agenda that is at the core of our culture. We have always believed in contributing to the society and have tried to achieve so by way of some key initiatives that we support.

Our award-winning Global Research team provides valuable insights and analysis on global and country macro-economic trends, and multiple asset classes. We want to be a ‘Trusted Partner’ for our clients. We use our global capabilities and deep local knowledge in India to provide a wide-range of products and services to meet the needs of our individual and business clients. We build our products and services around our clients, and our processes are focused on ensuring that our customers have the best possible experience with us. Our approach to our clients is defined by an uncompromising commitment to them and to their

Contact name: Vishal Kapoor Email: vishal.kapoor@sc.com Tel: +91 6601 4444 / +91 3940 4444 Web: www.sc.com/in Address: 3A Crescenzo, G Block, Bandra Kurla Complex, Bandra East, Mumbai-400051 India

wealth&moneymanagement2014 | 63

Best for Global Fixed Income Products

WESTERN WESTERN ASSET ASSET MANAGEMENT MANAGEMENT COMPANY COMPANY With assets under management of US$468.9 billion as of 30 June 2014, Western Asset believes in longterm, fundamental, value-oriented investing. Jim Flick, Head of Global Client Service and Marketing, told us how the firm’s team approach and global presence helps it find the best opportunities for its clients

s investors seek greater diversification for their portfolios, access to global markets has become increasingly important. Western Asset offers a wide range of strategies that provide clients with access to the global fixed-income universe while catering to their specific investment objectives, risk appetites and return targets. “It’s always great to be recognised for the hard work that we do for our clients,” said Head of Global Client Service and Marketing Jim Flick, in response to winning the Wealth and Money Management award for best global products. Flick credited the firm’s team-oriented approach and global presence for giving it a distinct advantage in searching for the best investment ideas around the world for its clients.

alysts and offices in seven countries. Western Asset utilises a team-oriented management approach that melds a top-down, long-term view with bottom-up fundamental analysis. As an example of the firm’s collaborative approach, research analysts, traders and portfolio managers sit together on the trading floor so they can easily exchange information and discuss ideas.

First and foremost, the firm strives to be accessible to clients and provide solutions to their needs as well as recognise future concerns and develop strategies accordingly. Additionally, Western Asset’s offerings have benefited from the firm’s enhanced risk system, which can more closely analyse and stress-test portfolios. This is particularly beneficial to the global strategies as it is crucial to be able to monitor the potential impacts of ever-changing developments throughout global markets on client portfolios.

Key investment themes and strategies stem from the findings of the Global Investment Strategy Committee led by CIO Ken Leech, which consists of senior investment professionals, including portfolio managers, sector heads and other investment strategists who meet regularly to review and make sense of current developments in the macroeconomic environment. They condense their discussion into thematic asset allocations that are then relayed to those who manage the bottom-up portion of the investment process: the research analysts and the traders. All aspects of the investment process leverage the expertise of the firm’s global platform with investment offices in the US, Europe, Asia and Latin America. Having these local resources and this knowledge base positions the firm’s investment professionals to take advantage of opportunities in all sectors around the globe.

Research is a key component in Western Asset’s investment philosophy. The firm has 48 research an-

The benefit of global investing is that certain strategies can potentially benefit from the higher income

64 | wealth&moneymanagement2014

offered from asset classes outside of the US. These can then be combined with less volatile assets to provide better diversification and the opportunity for attractive returns. “We’re focused on long-term fundamental value with diversified strategies. Our global products are a perfect example of taking a long-term view and emphasising diversification so that no one part of the portfolio is too heavily concentrated – and therefore vulnerable – to specific risks,” Flick said. Some of the firm’s most popular global strategies include Global Core Full Discretion, and, in the liquid alternatives space, Macro Opportunities. The Global Core Full Discretion product seeks to provide total return over the market cycle using global fixed-income markets and currencies. Added value is sought through country and currency allocation, sector rotation and yield curve management, as well as issue selection. Portfolio risk is managed through broad diversification across markets/sectors, duration management and active hedging of currency exposure. The Macro Opportunities strategy – which recently won a Wealth & Finance Alternative Investment award – reflects Western Asset’s investment views and experience and is led by the firm’s CIO, Ken Leech. Because it doesn’t have the restrictions that can come from being tethered to a benchmark, it is

Pictured right: Western Assetâ&#x20AC;&#x2122;s headquarters in Pasadena, California. The firm has offices spread across four continents, providing investment services for a wide variety of global clients, across an equally wide variety of mandates

able to emphasise areas where Western Asset specialists have identified opportunities. A significant alpha-generating component of the Macro Opportunities strategy is fluid duration and yield curve positioning. Opportunistic and tactical, the strategy has the ability to take long and short positions, allowing the versatility to be passive or aggressive based on the long- and short-term outlooks. The strategy may invest in cash bonds, futures, options and other derivatives as well as CDX and single-name credit default swaps and options. Presently, many fixed-income investors are concerned about the eventuality of a rising rate environment. The firm is closely watching inflation and the outlook for rising rates, and offers a variety of strategies that specifically address challenges posed by the current environment. The constant fluctuation of global events can also be a concern for global investors but the firm benefits greatly from having global investment teams in many of the areas where it invests to closely monitor developments and determine whether portfolios need to be adjusted. Western Asset is committed to understanding the needs of each client, identifying investment solutions and delivering superior long-term investment results. Its global offerings provide clients with local access to global markets. In the Pasadena-based firmâ&#x20AC;&#x2122;s 43-year history, it has worked to establish a global structure and is proud to have the depth of research and personnel to help clients realise greater diversification by uncovering compelling investment opportunities in the global space.

Email: clientservice@westernasset.com Tel: +1 626 844 9500 Website: www.westernasset.com Address: 385 East Colorado Boulevard Pasadena, California 91101 USA

wealth&moneymanagement2014 | 65

alternativeinvestmentawards Best Performing Global Macro Strategy – Liquid Alternatives

WESTERN WESTERN ASSET ASSET MANAGEMENT MANAGEMENT COMPANY COMPANY In addition to its success in the Wealth & Money Management Awards, Western Asset was in July recognised in the Wealth & Finance Alternative Investment Awards, for Best Performing Global Macro strategy – Liquid Alternatives. Here’s what the firm had to say on receiving its earlier award

ith a dedicated focus on fixed-income, eight offices located around the world and 123 investment professionals powering its fundamental value and research-driven approach, Western Asset is well equipped to offer unique products that cater to global clients’ needs. The Macro Opportunities strategy has attracted a lot of attention because it addresses many of the challenges posed by the current environment. In this way, it is a prime example of Western Asset’s investment style in action. Taking advantage of the firm’s fundamental credit research and relative value analysis, the strategy seeks to maximise total return relative to a volatility target while giving investors a flexible, highly liquid and low-cost alternative investment option. The strategy reflects Western Asset’s investment views and experience led by Western Asset’s CIO, Ken Leech, and supported by the depth of the firm’s network of global analysts, portfolio

66 | wealth&moneymanagement2014

managers and investment strategists. Because the strategy doesn’t have the restrictions that can come from being tethered to a benchmark, it is able to emphasise areas where Western Asset specialists have identified opportunities for realising relative value among securities and sectors throughout global fixed-income markets. “As is true of all of our investment offerings, the Macro Opportunities strategy invests in Western Asset’s highest conviction ideas. However, unlike some of our other strategies, Macro Opportunities has a higher volatility threshold and no need to account for benchmark weightings, so it is able to invest more heavily in those ideas,” Ken said. A significant alpha-generating component of the Macro Opportunities strategy is fluid duration and yield curve positioning. Opportunistic and tactical, the strategy has the ability to take long and short positions, allowing the versatility to be passive or aggressive based on the long- and short-term outlooks. When appropriate, the strategy can take

an aggressive approach with up to 50% allocated to below-investment-grade securities, up to 50% representing unhedged, non-US investments/foreign exchange or up to 50% in emerging markets. The strategy may invest in cash bonds, futures, options and other derivatives as well as CDX and single-name credit default swaps and options. Using a combination of fundamental and technical inputs, the portfolio’s composition is driven by the firm’s long-term view of credit valuations and changes in interest rates, volatility and currencies – but also the near-term environment. It has the option of taking net duration to negative five years or to a maximum of ten years. In this way, it enables clients to benefit from temporary dislocations in the market. “The strategy reflects a long-term fundamental outlook based on Western Asset’s macro view, but also utilises the firm’s ongoing outlook on global fiscal and monetary policies,” Ken said. “We are

Western Asset’s strategy reflects its investment views and experience led by the firm’s CIO, Ken Leech, pictured above constantly evaluating global developments and changes to our outlooks – driven by these developments – are mirrored in the portfolio.” While Western Asset continually seeks attractive returns, another reason for the strategy’s popularity stems from its low correlation with equity beta and core bond products, thus providing an additional layer of diversification in portfolios. It aims to uphold the core thesis of bond investing by protecting assets in volatile environments while

still potentially offering additional value by giving investors a way to respond to changes in the ever-fluctuating macroeconomic environment. Western Asset has a 43-year track record of using a fundamental, value-oriented approach consisting of both top-down and bottom-up analysis in global credit markets. Western Asset’s fixed income emphasis permits it to provide a broad range of strategies to investors with various investment objectives, risk appetites and return targets. The Macro Opportunities strategy is an application of those strengths and intended to nimbly manage risk and seize opportunities in both bullish and bearish environments in the pursuit of positive risk-adjusted returns.

Email: clientservice@westernasset.com Tel: +1 626 844 9500 Website: www.westernasset.com Address: 385 East Colorado Boulevard Pasadena, California 91101 USA

wealth&moneymanagement2014 | 67

Best City Firm for Complex Wealth Management

SAUNDERSON HOUSE Founded in 1968, Saunderson House is a leading firm of independent wealth managers based in the City of London and providing award-winning advice to busy professionals and other high net worth individuals

e are pleased to have won this award; it highlights our core ethos of exemplary client service and analytical rigour and everyone at Saunderson House can be proud of the contribution they have made towards it. It is important as it recognises high achievers and inspires the wider industry to improve in order to win future awards.

We take pride in providing a joined up financial planning and investment service. We consider the financial situation of our clients as a whole, advising on investments and associated tax, cash flow planning and modelling, pension planning and inheritance tax and estate planning. This approach ensures our clients benefit from integrated strategic planning of their financial matters.

macroeconomic environment and careful scrutiny of asset valuations, the team proposes asset allocations and funds for client portfolios.

We owe our success to the fact that we attract, train and retain advisers who demonstrate the utmost levels of competence. Our corporate Chartered Financial Planners status demonstrates that we consistently achieve best practice levels of knowledge, capability and ethical practice, and we make it a priority for all our advisers to gain individual chartered status.

We are passionate about our independence. We provide advice on a time basis and have no products of our own to sell. As a result, our clients receive advice from highly qualified professionals offering solutions from leading investment and product providers across the whole of the market. Our investment philosophy is value driven and long term, based on risk-control and active fund selection where possible. We do not believe in investing in any product we cannot conduct due diligence on nor understand how the investment returns are generated.

We maintain a strong focus on quality control and insist on rigorous professional standards from all our people. We support this through structured learning, personal development and soft skills training.

Our nine-strong specialist investment team is comprised of highly qualified individuals, all with relevant up-to-date knowledge who all specialise in particular asset classes and markets.

Email: beverly.landais@saundersonhouse.co.uk

We currently have 125 staff; 90 within seven financial planning teams, nine investment research specialists and 26 in business support. We will add 11 graduate trainee financial planners to the team in the autumn. We have 35 individual Chartered Financial Planners. Our 16-strong technical research team monitors legislative and product developments, and helps ensure our advice is current, complete and robust.

68 | wealth&moneymanagement2014

On the basis of rigorous research into the global

These recommendations are intensively reviewed by our Investment Committee, which meets each month before a decision is taken on whether to implement them.

Contact name: Beverly Landais Tel: 020 7315 6500 Web: www.saundersonhouse.co.uk Address: 1 Long Lane, London EC1A 9HF

LBE Support Program Consultancy of the Year, USA

EPIC PLATFORMS EPIC Platforms helps firms and their financial advisors set and achieve their investment sales goals. Specifically designed to focus on the unique needs of platform bankers or Licensed Branch Employees (LBEs), EPIC is ultimately committed to enhance the lives of financial institution customers

PIC Platforms is a unique, California-based investment sales consulting firm helping banks, credit unions and their financial advisors generate industry leading revenue figures. “Although we’re relatively new on the scene, we are not new to our industry,” says David Simula, President, CEO and Managing Director at EPIC Platforms, Inc. “We have clients from Manhattan to Miami to Maui. We help firms and their financial advisors set and achieve their investment sales goals. Specifically designed to focus on the unique needs of platform bankers or Licensed Branch Employees (LBEs), EPIC is ultimately committed to enhancing the lives of financial institution customers. By improving the quality of the customer experience in a financial institution setting, we add value to the customer, the firm and the advisor.” EPIC’s clients range from small community banks and credit unions, to regional banks and credit unions and all the way up to flagship client, LPL Financial, the largest independent broker/dealer in the United States. EPIC is the exclusive external provider of specialised LBE counsel for LPL Financial, which serves over 700 banks and credit unions. “Our services provide solutions for three main groups: Financial Institution Executive Leadership –helping them understand the value of an LBE

program and explore starting or enhancing an LBE program; Investment Program Management, Sales Management and Financial Consultants –analysing, benchmarking and collaborating on solutions for enhancing an existing LBE investment sales program; and Licensed Branch Employees – providing tested and proven award winning tools, solutions and strategies to build and support elite LBE teams. “We also provide supplemental investment sales management solutions and executive mentoring. Think “outsourcing” sales management for LBE programs.” Simula says EPIC is “humbled and honoured” to be named LBE Support Program Consultancy of the Year, USA. “An award like this validates the effort we put towards helping firms take advantage of our specialties. I also believe it will help other firms recognise the value we could bring to their firms by being acknowledged as the premier firm in our space. Many firms do not realise a firm like ours exists.” To what does EPIC most owe this award win? “Besides the grace of God, I believe we’re filling a void that exists in helping firms see and address what we call the ‘Nurturing Gap’ that is present in financial institution platform financial advisors-platform advisors being Licensed Branch Employees (LBEs) who are able to offer investment and/or insurance solutions to their banking

or credit union clients, complementing the efforts of dedicated Financial Consultants,” says Simula. “We provide consulting solutions and tested and proven tools to fill this gap. This is our niche.” But EPIC is not a firm that is happy to stand still. “We are currently in the latter stages of developing what we believe will be an industry changing, simple but profound financial planning software tool for Licensed Branch Employees,” Simula says. “This tool will help LBEs uncover, gather and appropriate assets using our 15 year tested and proven processes in unprecedented ways. We are partnering with a leading technology company to make this available to financial institutions worldwide in the next six months.”

Contact name: David Simula Email: david.simula@epicplatforms.com Tel: +1 888 851 7624 Web: www.epicplatforms.com Address: P.O. Box 4704, El Dorado Hills, CA 95762 USA

wealth&moneymanagement2014 | 69

Best for Portfolio Diversification, USA & CTA Management Firm of the Year, USA

SUNRISE CAPITAL PARTNERS

Specialists in alternative investments since 1980, Sunrise Capital Partners is one of the pioneering firms of the alternative asset management industry. With a compounded annual net return of over 20% in its flagship investment program since inception with a negative correlation to the S&P 500 during that same time period, Sunrise’s track record speaks volumes but only begins to tell the story of this innovative firm. To learn more about Sunrise, we caught up with CEO of Sunrise, Jason Gerlach, to discuss the Sunrise’s history, business approach and investment philosophies

tating that the entire Sunrise team is “flattered and proud” to win awards for “Best for Portfolio Diversification – USA” and for “CTA Management Firm of the Year – USA,” according to Gerlach the recognition “helps further validate Sunrise’s approach to business and investing.” Added Gerlach, “we were thrilled to have another data point validating the simple business thesis that was behind Sunrise’s 1980 launch and that continues to drive us today. Recognition from an impressive and informed organization such as Wealth & Money Management gives us encouragement that we are doing the right things for our investors.” Gerlach also feels that on an industry level the awards have a valuable purpose spotlighting businesses that are doing right by their clients. Specifically, he noted “at Sunrise we try to be a role model to the industry and set good standards for our peers and these awards appear to recognize those efforts.” Gerlach further stated his firm’s appreciation for Wealth & Money

70 | wealth&moneymanagement2014

Management’s “open-mindedness and willingness to look beyond “the brand name and multibillion dollar firms to find innovative, alternative firms like Sunrise.” As Gerlach put it, “bigger is never necessarily better in our industry and your organization’s more inclusive approach to manager research should become more of an industry standard so that more investors can take advantage of the opportunities presented by smaller, yet still compelling and dynamic firms such as Sunrise.” Regarding Sunrise’s award as 2014 “Best for Portfolio Diversification – USA,” Gerlach noted that “it is very meaningful because it goes right to the core of our investment philosophy. This philosophy is that taking a disciplined approach to applying a range of robust investment techniques, one can invest across multiple global markets and multiple investment time frames in such a way that one can achieve a consistently compelling risk-adjusted return that has a low correlation to almost all other investments – stocks, bonds, real estate, commodities, private equity and more.“

Regarding Sunrise’s award as “CTA Management Firm of the Year – USA,” Gerlach stated that “it is tremendously rewarding as it recognizes the collective effort of the entire Sunrise Team in building what we feel is an outstanding, adaptable and innovative asset management firm. We pride ourselves in providing investors with everything they want and need in the postcrisis investment environment including a range of quality investment offerings, high levels of transparency, flexible and fair pricing, liquidity options, frequent “high touch” customer service and communication, and much more.” Sunrise’s track record certainly stands out in a crowded investment space, especially when one considers that, according to Gerlach, “the total wealth generated by Sunrise since our 1980 inception exceeds $1 billion.” Since its founding in 1980, Gerlach stated that “Sunrise has built and implemented robust, highly diversified investment programs that are generally agnostic to the economy and designed to provide investors with the opportunity to achieve

compelling risk-adjusted long-term returns across both good and bad market environments.” With respect to its client-relations approach, Gerlach noted that the firm “attempts to develop a strong relationship with each of its investors and ensure that there is a strong fit between Sunrise’s business approach and the needs of its investors.” As Gerlach further detailed, “in our 35 years in business, we have learned that solid, decades-long client relationships can be built and maintained with the right investor relations approach.” Gerlach stated that the overall philosophy of Sunrise is to “strive for excellence in every aspect of its business” and “honour and respect the asset management industry in everything it does as a business.” As an example of this, Gerlach pointed out that Sunrise was a founding member of the California Hedge Fund Association (“CHFA”) in 2010 and continues to play a very active role in this nonprofit, membership-based organization. For details on CHFA, please visit www.calhedgefund.org or contact Gerlach, CHFA’s current President, directly. At present, Sunrise manages approximately $200 million in assets for over 150 individual and institutional investors across a platform

of offerings including on and offshore fund structures and separately managed accounts. In addition, Sunrise recently launched an actively managed ETF on NASDAQ in partnership with AdvisorShares (prospectus and other details available at www.SunriseETF.com). In addition to launching its ETF, according to Gerlach, Sunrise this year has: •

Enhanced its investment approach and investor accessibility with respect to its flagship Sunrise Evolution investment program

•

Brought to market an innovative equitiesonly investment program (Sunrise U.S. Equity Optimized Growth (“EOG”))

•

Launched a mobile-friendly website that will soon allow Sunrise investors quick and easy access to their accounts

•

Furthered a host of philanthropic initiatives including partnerships with organizations such as Kiva, Casa de Amparo, the Navy Seal Foundation, and youth sports organizations.

Looking forward, Gerlach noted, “we aim to continue making our business as relevant and accessible to global investors as we possibly can. For instance, in the coming year we will continue to enhance and better distribute our existing set of investment offerings such as via a recently-launched fund vehicle in Japan that will provide a wide range of Japanese investors an efficient means of accessing our Sunrise Evolution Program.” Gerlach stated that the firm also plans to “further develop our online digital investor support and outreach platform and our various philanthropic partnerships.”

Contact name: Jason Gerlach Email: jgerlach@sunrisecapital.com Tel: +1 877 456 8911 Twitter: @suncappartners Web: www.sunrisecapital.com Address: 12544 High Bluff Drive, Suite 400, San Diego, CA 92130 USA

wealth&moneymanagement2014 || 71 TK

Corporate Legal Practice of the Year, New York

CURTIS, CURTIS, MALLET-PREVOST, MALLET-PREVOST, COLT COLT & & MOSLE MOSLE LLP LLP Dedicated to counseling clients involved with some of the most challenging transnational transactions and complex multijurisdictional disputes, Curtis, Mallet-Prevost, Colt & Mosle LLP, founded in 1830, is one of the first US law firms to develop a truly international practice

urtis, Mallet-Prevost, Colt & Mosle LLP has built a reputation for excellence in international practice over nearly two centuries of serving its clients around the world. Curtis’s highly regarded International Corporate group, recipient of this year’s Corporate Legal Practice of the Year - New York award, complemented by the firm’s full range of specialty practices, counsels its clients on their global asset and wealth management strategies through the firm’s 16 offices in the United States, Europe, Latin America, the Middle East, Central and East Asia. International Corporate Partner Marie-Thérèse Allen says Curtis, in addition to advising multinational companies and state-owned enterprises, private equity funds and investors as well as sovereign wealth and hedge funds on challenging and complex cross border and other transactions, is counseling an increasing number of family-held businesses and high net worth individuals and families seeking to relocate to the US and other jurisdictions because of regional economic and political unrest. Clients are engaging Curtis to advise on asset and wealth growth, preservation and liquidity strategies that include mergers and acquisitions, joint ventures, dispositions, investments, financings and other transactions, as well as on the management, governance and restructuring of enterprises and holdings. Ms. Allen and fellow Curtis International

72 | wealth&moneymanagement2014

Corporate lawyers work closely with the firm’s International Tax and Trusts and Estates practice groups, among others, to create effective structures and strategies for the global needs and goals of these clients. International Tax Partner, William L. Bricker, Jr. and his Curtis tax lawyer colleagues are advising such clients on the increasingly complicated array of US and other tax laws and related compliance and reporting issues with respect to their acquisition, ownership, management, succession planning and transfer of business and personal assets both in the US and elsewhere, whether while living or after death. They include such matters as income deferral, controlled foreign corporations, foreign passive investment companies, use of foreign tax credits, permanent establishment, transfer pricing, expatriation of earnings, withholding tax and FATCA issues. This increased demand for efficient and workable structures to support the personal needs, asset and wealth accumulation, preservation, liquidity and succession planning objectives of US and non-US clients has International Trusts and Estates partner Robert W. Sheehan and fellow Curtis trusts and estates lawyers also advising on the use of wills, trusts, asset protection devices, family partnerships and limited liability companies, while taking US and other relevant tax regimes into consideration when tailoring solutions for such needs and objectives.

Pictured above (l-r) are Partners Robert W. Sheehan, Marie-Thérèse Allen and William L. Bricker, Jr. Curtis lawyers bring a global perspective, incorporating a deep understanding of political and cultural sensitivities in addressing clients’ legal needs, and exemplifying what it means to be international business lawyers

Contact name: Marie-Thérèse Allen Email: mallen@curtis.com Tel: +1 212 696 6066 Web: www.curtis.com Address: 101 Park Avenue, New York, New York 10178-0061 USA

wealth&moneymanagement2014 | 73

Best For Corporate Growth Strategy, USA

RICHARD RICHARDTYLER TYLER INTERNATIONAL INTERNATIONAL Richard Tyler International, which is based in the USA in Houston, Texas, offers customised business programmes on a wide range of areas crucial to a company’s growth. We spoke to Richard Tyler, the firm’s founder, to find out more

ased in Houston, Texas, Richard Tyler International is one of the world’s top sales training and management consulting firms, with 25 years’ work throughout the globe. The firm teaches philosophies and techniques in numerous areas critical to success in any business, including sales, leadership, management, customer service, marketing and quality improvement. It’s consistently named one of the top sales training and management consulting firms in the world, featuring widely in the media and receiving numerous awards such as being named the “Top Sales Training and Management Consulting Firm in the USA” in 2014. Additionally, Richard Tyler, the firm’s founder, shares his success and “Excellence” philosophies with millions of individuals each year through keynote presentations, seminars, books, CDs and web-based programmes. Tyler is the author of 12 books with two new books on Sales due out in 2015.

Strategy – has come about as a result of this philosophy. Tyler says that the most important thing to think about in creating and maintaining growth is how a client is going to generate profit. “Everything starts with the mind-set of generating revenue for our clients,” he says. “If a company is not profitable it cannot sustain servicing its clients’ needs.” Examining a company from the ground up, Richard Tyler International looks at the entire business model – everything in a company, even down to the way people look to a client, is important, he says. “It all comes from Tyler’s two key business philosophy points: 1. Everyone in the company is in sales 2. People prefer to do business with people they like, know and trust.

And within Richard Tyler International, the culture is identical to that which the company works to develop in its clients, says Tyler, with everyone sharing the same outlook and working toward a common goal. “It’s a synergistic culture,” he says.

“Every education programme we train and all our consulting is built on our sales and client satisfaction framework.”

Tyler, who is known as “America’s Corporate and Entrepreneurial Business Expert,” has an overriding philosophy: “Your success tomorrow is in direct proportion to your ‘Commitment to Excellence®’ today.”™ It’s a mantra that exemplifies his approach – that consistent hard work and a focus on delivering the highest possible standard of service will result in future success.

Tyler says that most firms have different philosophies for different areas of the business, with some companies hiring different training firms for different parts of the organisation. This, he says, is an incorrect approach, and one which can lead to employees becoming confused, due to conflicting business philosophies. “A confused employee takes no action,” he says.

The firm’s success in The Wealth & Money Management Awards – it has been named Best for Corporate Growth

To help clients with this challenge Tyler developed his “Primary Sourcing™” philosophy. This means

74 | wealth&moneymanagement2014

that, when Richard Tyler International is called in to provide training and/or management consulting at a company, everything is assessed and taken care of. For example, a steel and scrap metal company that was in particularly bad shape hired Richard Tyler International to help turn the business around and make it profitable once again. On arrival, Tyler found that the metal company did not have the required personnel to make the turnaround, and so Richard Tyler International brought people in to run the company, including a general manager.

Tel: +1 713 974 7214 Web: www.richardtyler.com Web: www.salesImmersion.com Address: Richard Tyler International, Inc.® 5773 Woodway Dr., Suite 860 Houston, TX 77057-1501 USA

Best Retirement Planning Firm, Alabama

SUNGARD

SunGard Financial Systems provides leading software and IT services to institutions in virtually every segment of the financial services industry, says Bill Byerly, Executive Vice President and General Manager of the firm’s Omni division

or more than 30 years, SunGard has been a top technology and service provider for the retirement industry.

With annual revenue of around US$2.8bn, SunGard serves approximately 16,000 customers in more than 100 countries and has more than 13,000 employees. SunGard’s retirement solutions administer more than US$2.6tn in assets, for more than 44 million participants across more than 250 thousand retirement plans. SunGard’s Omni solutions provide tools to help retirement and pension providers manage recordkeeping and administration. By offering global, web-based access to plan participants and sponsors, a high level of automation in trading transactions, and benefit disbursement, Omni helps businesses capitalise on the trend towards increased asset growth in pension investing worldwide. SunGard offers flexible and agile solutions that can be tailored to our customer’s needs to help keep our clients competitive and distinguished from their competitors, ultimately enabling them to grow their businesses. SunGard has a long, established history with deep expertise specific to the retirement indus-

try. We provide our customers with a range of delivery options, from operating in a licensed environment, to providing hosted IT services, and outsourcing key operational tasks. Our flexible delivery options let the customer be in control yet operate efficiently within manageable margins. The foundation of everything we do at SunGard is its focus on helping customers achieve their goals in terms better serving their clients, growing their revenues, managing costs, transforming their enterprise, and protecting their assets and reputation. We believe that our most valuable assets as a company are our deep domain knowledge, a large portfolio of award-winning products, and superior execution and delivery. At SunGard, we continue to invest heavily in our solutions and services to offer advanced technology to the retirement industry. We are currently expanding our technology licensed solutions into a hosting IT service, environment and offering full-service outsourcing services for the retirement administrator. Our international footprint continues to expand with a recent win in Saudi Arabia, while our front-office solutions for participants, sponsors and advisors continue to evolve to meet industry demands.

As wealth and retirement industry firms converge, SunGard is well positioned to actively engage with its clients to support business change by helping them scale and expand their offerings as they grow and evolve. Looking toward the coming year, we are focusing on enhancing the digital experience for participants, sponsors and advisors with web and mobile applications for better engagement and retirement readiness, as well as, expanding managed services to help business operate smarter.

Contact name: Bill Byerly Email: bill.byerly@sungard.com Tel: +1 205 437 7405 Web: www.sungard.com Address: 680 East Swedesford Rd, Wayne, PA 19087 USA

wealth&moneymanagement2014 | 75

Wealth Management Firm of the Year, New Jersey

LASSUS LASSUSWHERLEY WHERLEY & & ASSOCIATES, ASSOCIATES, P.C. P.C. Most Influential Company President of the Year, USA

DIAHANN DIAHANNW. W. LASSUS LASSUS

Diahann W. Lassus, CFP®, CPA/PFS, and Clare E. Wherley, CPA, CFP®, Co-Founders of Lassus Wherley & Associates, P.C., tell us how, with a client-centric approach, the firm continues to grow

hen we launched Lassus Wherley & Associates, P.C. in 1985, we were new to the field of Fee-Only financial planning, but the field itself was new. The number of Fee-Only planners at the time probably did not exceed 200. Then, as now, Fee-Only planners were working against the prevailing business model of the time. Most financial planners at the time (and today) are paid by sales commissions and indirect forms of compensation for the financial products that their clients buy or sell. We don’t work that way, and we never did. In the early years at Lassus Wherley, we had to educate every potential client about Fee-Only planning. People did not understand that they had been paying immense commissions to their previous financial advisors, and they did not understand the distinction between an advisor who worked in their fiduciary interest and an advisor whose fiduciary interest was tied to his or her employer. The best way we can describe it is this: Our firm does not accept sales commissions of any type for the financial services that we recommend for our clients. Our clients pay us directly, and in return, they receive our objective advice, untainted by the commissions and quotas that drive most investment brokers and advisors. People seemed to like our message, and the firm’s client base grew. We added staff members, and we added new services for our clients. Today, we have grown to 23 people in two offices (New Providence, NJ, and Bonita Springs,

76 | wealth&moneymanagement2014

FL) who provide financial planning, investment management, tax preparation, trust services, and family office support. In one day, we might help one family fine-tune a retirement plan, suggest a way that a small-business owner can save on taxes, remind another client to have a living will prepared, and discuss a trust through our family office service.

We must be doing something right. Our firm continues to grow, and many of our new clients come as referrals from their friends, coworkers, and families. We are as committed to making a new client feel at-home as we are to a client who has been with us for 25 years. With our range of expertise and experience, it’s likely that we’ve handled just about any situation that comes up.

Every day is a new challenge and a new opportunity to help. We respond with the same intent each time: To do what’s right for the client and to build a long-term relationship. We do not focus on accumulating investment assets to manage. We watch our costs carefully, and we manage our clients’ investments with an eye to minimizing their downside risk. We also educate clients about the importance of planning and investing for the long term, rather than becoming overwhelmed by the daily ups and downs of the stock market. We deliver peace of mind.

In the last several years, recognition of our firm within the financial planning industry has increased substantially. The firm was one of five recipients of the CPA Wealth Provider Financial Planning Awards in 2008, and individually, we have been named to many of the lists of top advisers in the nation. To be honest, awards are great. But that isn’t why we got into this business. We became Fee-Only financial advisors so that we could help people. That was our dream.

Following a Dream Helping our clients was only part of our dream when we became financial planners. We also knew that we wanted to work in an informal, fun atmosphere. We wanted an office environment that our staff and our clients would enjoy, yet would not interfere with the serious matters to be addressed. Admittedly, we might extend informality further than most companies. Our dogs come to work with us, and they happily roam the hallways, checking in on the MBAs, CPAs, CFP®s, and CFAs who manage clients’ accounts. Our New Providence office is located in a lovingly restored historic building near a park, where we occasionally sit for a lunch break.

Contact name: Diahann W. Lassus Email: diahann@lassuswherley.com Tel: +1 908 464 0102 Web: www.lassuswherley.com Address: 1 Academy Street, New Providence, NJ 07974 USA

Lassus Wherleyâ&#x20AC;&#x2122;s New Providence, NJ office is located in a lovingly-restored historic building

wealth&moneymanagement2014 | 77

Innovation in Corporate Technology: Electronic-Boardroom TMVi® Solutions

TECHNOLOGY TECHNOLOGY & & MARKETING MARKETINGVENTURES, VENTURES, INC. INC. A team of electronic business makers and game changers serving the financial industry, information vendors, corporate boardrooms and educational entities worldwide, Technology & Marketing Ventures, Inc. are specialists in architecting “killer apps” and maximizing shareholder value, helping clients prosper from changing competitive landscapes via venture development

echnology & Marketing Ventures, Inc. (TMV) helps clients prosper from changing competitive landscapes by formulating strategies, executing “next practices” and managing ventures. TMV creates Electronic-Boardroom TMVi® Solutions in consulting, networks, education, television, database and newsletters. Clients that TMV has navigated through unchartered waters include CEOs, boards, policy makers,

“

With its collaborative partners, the firm turns communications into accountability movements, transforms technology into wealth and provides the right structure and resources to manage its clients’ value.

‘money on the move’. Specifically, we are applying the Ignite geo-location, marketing and payments platform toward revolutionizing mobile retail strategy. We are enabling merchant clients to address the consumer’s desire to use smartphones to enhance their shopping experience.”

“I am humbled by winning this prestigious Wealth & Money Management Award for Innovation in Corporate Technology,” says June Klein, CEO. “The award is important to TMV because an expert pan-

TMV owes its award to its team and a focus on team areas, says Klein. “The team is more than just the direct TMV contributors in areas like

TMV turns communications into accountability movements, transforms technology into wealth and provides the right structure and resources to manage its clients’ value

TMV’s global FinTech initiatives include revolutionizing mobile retail strategy by providing m-commerce solutions that enable consumers to use smartphones to enhance their shopping experience. TMV creates strategic customer relationships and barrier-to-entry ecosystems.

78 | wealth&moneymanagement2014

el of independent industry judges acknowledged the value and success of our Electronic-Boardroom TMVi ® Solutions. The award complements TMV’s induction into the 2014 Manhattan, NY Business Hall of Fame based on seven consecutive years of winning #1 Best of Manhattan Award in the International Consultants category. “Moreover, it is an opportunity to share with the Global FinTech community our ‘next practices’ for

“

tech firms, marketing firms, financial firms, private funds, investment money managers, family offices, high-net worth individuals and entrepreneurs.

UK-US venture development, formulation-execution strategies, global-local product launches, tech-cyber security architectures, financial-technology leadership programs, corporate-internet governance, inversions - spinoffs tax law and tech mogul-concierge wealth services. “Integral to the team is the collaborators who contribute their expertise and work together seamlessly to create an integrated Money Move-

ment with accountability and barriers. We are like ‘The Avengers’, which was the highest revenue grossing movie because each superhero brought in its own superpower to solve the problem in intergalactic time. TMV is the Empowernator™ and our superheroes include, but are not limited to: Paythru Ltd. a leading provider of m-commerce solutions; Restoration Partners, a boutique technology merchant bank; Citibank NYC Small Business Team; Martin LLP, a US M&A law firm; and Alliance Bernstein, a global wealth manager.

self-worth in others, as well as increasingly challenging opportunities and results. As a leader, I strive to inspire others to achieve their dreams: by words, by actions and by example.”

“One unique attribute of the mobile payments market is the fact that six different industries are actively exerting influence over the mobile payment discussion. This is a very different dynamic than previous analyzed industries and sectors. Financial institutions, retailers, wireless, traditional and mobile payment services, and device makers are all in the mix of start-ups and established firms. “

Everything the firm has to say is in the eight words of its corporate name, registered trademark and USA subsidiary name, says Klein. “We have a breadth and depth of technology blended with marketing. We recognize that ventures is the name of the game, and embrace it. Our goals are geared toward all stakeholders, not just shareholders. We have methodologies that transform technology into wealth.

“Partnering in mobile payments requires: ‘a cast of many’ driven by customer experience and with clear roles and responsibilities; an ‘open marriage approach’ driving brand hierarchy, customer ownership and non-exclusivity; a ‘leap of faith’ with a mantra of maximum return, minimal risk and a pre-nup.” “TMV and Paythru have been successful because of expertise as an integrator and focus on multi-disciplinary partners and relationships. We have a range of high quality partners which introduce new business across the sectors and geographies in line with our sales and marketing plan. Our Paythru partners include Masterpass, Oltio, Parkeon, HS1, Jamie Oliver, FirstData, Cybersource and Credorax. We continue to utilize and add to these relationships to increase market share and global presence as well as developing direct sales opportunities where appropriate.” The working culture at TMV is focused, yet relaxed, says Klein. “We take our work very seriously, but try not to take ourselves too seriously. We are professional with a healthy blend of humanity,” she says. “Once you are on our team of employees and partners, we trust you and don’t throw you under the bus. We see the bus coming and pull you out of the way and if we can’t, we take the hit. “Inherent in our deals is that everyone should be fairly compensated for their work and effort. We work to achieve company goals, but embrace a larger purpose of instilling a sense of pride and

“As the chairman of a bank I once worked for said to me, do whatever you want, but if you make a mistake on your financials, you may get cut off at the knees and the discussion come after. “We don’t understand why ‘work’ is called ‘work’,” she adds.

“If you are a large retailer or mall owner needing marketing and pin authentication, Paythru Inc. is who you want by your side to help you navigate through unchartered waters. Unlike mobile systems that are an add-on hampered by legacy systems, ours was built from scratch in an open architecture and works with any phone, carrier, bank, financial institution. We are differentiated from peers through our white label, non-proprietary value added system platform, our focus on creating super merchants and our integrated marketing and payments platform, Ignite.” Over the coming year, a great opportunity lies in persuading more consumers to use their smart phones to securely pay for goods and services, says Klein. “Technology is not enough, which is why our blended marketing services are so powerful.

you@tmv.com

Contact name: June Klein Email: jklein@tmv.com Tel: +1 212 628 2178 Web: www.tmv.com Address: 444 E 82nd St, #11M, New York, NY 10028 USA

wealth&moneymanagement2014 | 79

Best Ontario Firm for Mortgage Solutions

TANNER TANNER FINANCIAL FINANCIAL SERVICES SERVICES Founded in 1999, Tanner Financial Services has continually evolved to meet the needs of its clients, providing peace of mind through every stage of its clients’ lives by providing and regularly updating a complete financial road map. Brett Tanner, President, tells us more

anner Financial Services is a full service financial shop providing group benefits for small business, pension and individual investment and insurance options as well as financial planning and mortgage solutions. The firm likes to provide its clients with a complete service, says Brett Tanner, President. “It has always made sense to us to work with clients that we can help with their full financial and insurance picture. We find it more difficult to work with clients who want you to provide service on a piece meal basis. It’s like trying to work on the body, everything is connected, if you are only working on one area you may not know about other areas that could affect your area.” The firm’s overriding philosophy, Tanner says, is simple: to deliver above its clients’ expectations. “We work hard to make sure clients get looked after. If one team member is away we ensure service is still being provided. Our continued success as is anyone’s in our business is reliant on customer satisfaction. Knowing they can call and get a reply the same day on almost any issue is huge, particularly to our small business owner clients.” The firm takes a holistic view of the financial picture of its clients, who are predominantly individ-

80 | wealth&moneymanagement2014

uals and small business owners, he says. “Being able to run a full financial plan that includes debt reduction at the same importance as growing assets allows us to identify client needs.” In the wealth and money management arena, many clients are today not aware of the work involved behind the scenes, or the costs to run that, Tanner says. “With new models for fee disclosure in much of Canada’s financial industry it’s more important than ever to make sure they understand what is involved and the value of the services you are providing. We work to stay ahead of the curve in terms of compliance, education and industry regulations.” Tanner feels that many of the products and the industries Tanner Financial Services is involved in have recently tried to become commoditised. What sets his firm apart from its competitors, he says, is its steady approach. “We have tried to focus on stability, consistency and service, and product range rather than trying to be the flavour of the week.” Over the past year, Tanner Financial Services moved to a new, more convenient location for its clients and has continued to add new staff to accommodate its service model and growth. And

over the next 12 months the firm is set to grow again, hiring new advisors and acquiring additional businesses in the new year. The firm’s continuing commitment to great service has seen it named Best Ontario Firm for Mortgage Solutions. “While we are always excited to garner recognition, client satisfaction is more important to us,” Tanner says. “Being nominated by clients recognises we are on the right track.”

Contact Name: Brett Tanner Email: brett@tannerfinancial.ca Tel: +1 888 666 8777 Web: www.tannerfinancial.ca Address: 120 West Beaver Creek Road, Units 20-21, Richmond Hill, Ontario L4B 1L2 Canada

Award for Innovation in Retirement Challenges, Connecticut

NATIONWIDE NATIONWIDE FINANCIAL FINANCIAL Nationwideâ&#x20AC;&#x2122;s vision is to be the trusted advocate for US consumers and businesses by protecting what matters most and building a secure financial future

ver the last 85 years, Nationwide has grown from a small mutual auto insurer owned by policyholders to one of the largest insurance and financial services companies in the world, with more than US$158bn in statutory assets.

pre-retirees and retirees. The strategies, insights tools and materials it has developed help financial professionals and investors increase their awareness and knowledge of complex financial topics such as retirement income planning, health care, long term care and social security.

Our mission is to be the trusted advocate for US consumers and businesses by protecting what matters most and building a secure financial future. To support this mission The Nationwide Retirement Institute was formed to provide practical thought leadership to help improve the financial health and retirement outcomes for consumers.

The Retirement Institute has significant resources dedicated to bringing these concepts and topics to life through experienced specialists in the field and home office. These resources have enabled a considerable level of success within broker/dealers across the industry in elevating the effectiveness of the interactions advisors have with their clients.

The Retirement Institute has focused on developing programs to address the major concerns facing

â&#x20AC;&#x153;Breaking down and simplifying complex client retirement challenges is a goal we strive to achieve

every day,â&#x20AC;? said Kevin McGarry, Director of the Retirement Institute.

Contact name: Kevin McGarry Email: mcgarrk@nationwide.com Web: www.nationwide.com

wealth&moneymanagement2014 | 81

Project Financing Team of the Year, Illinois

AFFILIATED AFFILIATED FINANCING FINANCING LLC LLC Affiliated Financing has operated for 24 years arranging private placements and debt financing for small- and mid-size companies in many fields

ounded by James Forrest in 1990, Affiliated Financing arranges debt financing for growing small- and medium-sized businesses wanting to increase profits through new equipment, supplier discounts, buying inefficient competitors, low rate Industrial Revenue Bonds or buying or refinancing commercial real estate. These transactions included Asset Based Financing, Equipment Financing, Bank Loan Negotiation and Private Placements. To do this, assembled a loyal team of financing experts and a network of reliable institutional financing sources. Each advisor had financed over US$3bn, respectively, in lines of credit, capital, real estate or equipment. Forrest and his financial team worked effectively with banks, insurance companies, Wall Street conduits and commercial finance companies across the country. The firm is registered with the Illinois Securities Department, Office of the Secretary of State, as Loan Broker #LB200000001.

82 | wealth&moneymanagement2014

The firm has operated for 24 years arranging private placements and debt financing for smalland mid-size companies in many fields. Forrest has eight years as a top business financial services salesman with two major banks, with excellent presentation and negotiating skills honed through years of dealing with top business owners and executives.

The firm can structure True 3-, 5-, or 7-year “bullet” loans – like “zero coupon loans” – to facilitate construction or other projects that have back-end cash flows.

Want to use your best customer’s promise to pay as collateral?

Affiliated takes no equity in its clients’ projects and is compensated by the Lender-in-fact from its American insurance company investors.

Quite simply, Affiliated Financing provides the project financing its clients need, when they need it, without the unwelcome surprises, post-funding reporting requirements or equity participation obligations associated with private equity, mezzanine and venture capitalists. Affiliated Financing provides term debt for businesses with irrevocable minimum “take or pay” obligations from their investment-grade rated customers.

The firm’s project financing is less expensive and should fund in less time than most mezzanine and hedge-funded finance companies.

Contact Name: James Forrest Email: jim@affiliatedfinancing.com Tel: +1 847 705 0123 Web: www.affiliatedfinancing.com Address: 2300 N. Barrington Rd, Fourth Floor, Hoffman Estates, IL 60169 USA

wealth&moneymanagement2014 | 83

Best for Private Wealth Management Solutions, Switzerland

BCM & PARTNERS

Founded in 2004, BCM & Partners is a multi-strategy asset management firm which manages both UCITS and alternative investment funds, and offers private wealth management solutions. We caught up with Fabio Michienzi, Director of BCM & Partners S.A., to find out more about this growing firm

abio, please tell us a little about your firm, your clients and the services you offer.

BCM & Partners is an independent private wealth management firm established in 2005 by a group of Morgan Stanley, Private Wealth Division’s ex-executives. The company has been growing steadily and today BCM & Partners directly manages over US$1.6bn (split between segregated accounts and open ended investment funds) and since 2012 is fully integrated within the C-Quadrat Group with AUM in excess of US$6.5bn. The C- Quadrat Group is listed both in Frankfurt and in Vienna and BCM & Partners is an important shareholder of the combined Group. The Partners of BCM & Partners have been working together for more than 15 years which is not only a guarantee for our investors, but it is also an important trademark bearing stability and success. How do you strive to operate with regards to your clients and peers? Since BCM & Partners was established in 2005, many major financial crises have upset the markets and many peers have been forced out of the financial industry. Independently from market conditions BCM & Partners never changed the contractual liquidity terms or put any hindrances (through gates or similar barriers) to its investors. This has sometimes been particularly challenging considering most of the investment funds directly managed by BCM & Partners offer daily liquidity terms. This major achievement, which may be deemed as almost unique, has been possible thanks

84 | wealth&moneymanagement2014

to the Firm’s conservative management approach which, among other things, dislikes the use of leverage and prefers exposure to liquid securities. Tell us about any developments in your business over the past year. Financial authorities around the globe require for the industry players to provide stability and strict adherence to compliance requirements in order to avoid major market crises and to guarantee investors do not incur in heavy or unlawful losses. In order to respond to these ever changing requirements BCM & Partners has always been very proactive trying to anticipate the trends, if at all possible, by putting in place strict risk control and compliance procedures. Whilst the group is fully regulated in the UK by the FCA, and in Germany and Austria by the relevant authorities, in the past year BCM & Partners SA has applied with the Swiss regulator FINMA for a comprehensive authorisation as an approved investment funds’ representative and distributor, as well as a fund manager also in Switzerland.

ness. Receiving this award in such a competitive country and industry makes us very proud. To what do you most owe this award win? Our approach to wealth management is both dynamic and conservative in order to provide capital conservation, real capital appreciation and superior risk-adjusted returns over the long term. In our opinion performance is an important factor of the equation. However we believe results can only be achieved if complemented by a comprehensive approach which starts from truly understanding our clients’ profiles and adapting their financial needs and requirements to the ever changing market conditions. All our teams are clearly focused towards successfully riding the markets, but are also strongly oriented towards clients’ satisfaction. This probably explains why throughout the years we never lost a single managed account, but significantly increased AUM.

How does it feel to be named the Best for Private Wealth Management Solutions in Switzerland? Private wealth management in Switzerland has always been a leading edge industry. Since its inception in 2005 the BCM & Partners Group has successfully implemented and managed both tailor made discretionary mandates and open ended investment funds. This long lasting and positive track record has been contributing to the brands’ renown which is a synonym of professionalism and serious-

Contact name: Fabio Michienzi Email: fabio.michienzi@bcmp.ch Tel: +41 22 819 40 73 Web: www.bcmpartners.eu Address: Rue du Général Dufour 12 1204 Geneva, Switzerland

wealth&moneymanagement2014 | 85

Best for Long Term Returns

SCM SCM DIRECT DIRECT SCM was launched as a progressive and disruptive company in the world of wealth management. With the launch of three life-style targeted online brands – SCM Direct, SCM 50 and MoneyShe in September 2014, the company continues to innovate by offering investors access to low cost high end investment management. Gina Miller, Founder, tells us how the firm is using a smart contrarian and modern, client-centric approach to achieve consistently strong results

hat specific areas do you specialise in?

Tell us about SCM’s overriding philosophy. How do you strive to operate with regards to your clients and peers?

Our Chief Investment Officer, Alan Miller, is amongst a handful of highly successful and respected UK fund managers and uses his active skill set to run our discretionary portfolios that are fulfilled via ETFs. We concentrate on three global fund of fund strategies:

We are passionate about transparency, and show 100% of all our fees, at all levels as well as 100% of our holdings. We put clients at the centre of all we do and operate a profit for purpose model where significant a percentage of profit always goes to small dynamic community charity; primarily in the UK.

• SCM Bond Reserve Portfolio: a Global Bond portfolio that is unique in holding such a diversified portfolio, not just in terms of debt that covers both UK and overseas, Government and Corporate, fixed and inflation-linked debt but which also invests in over 1,000 different underlying bonds to materially reduce individual default risk • SCM Absolute Return Portfolio: akin to a modern day hedge fund as Alan started the first UK Equity Long-Short Hedge Fund in 1997 • SCM Long-Term Return Portfolio: based on an old fashion pension fund. The asset allocation is not fixed but is typically 70-80% equities, 2030% bonds / commodities / cash / other assets but will be flexible rather than fixed in its allocations. We also have three blends of these portfolios, in three currencies so we are able to satisfy most investors risk profiles.

86 | wealth&moneymanagement2014

When it comes to your industry, what, in your view, makes a good business? One that does not forget the human face of looking after clients’ hard earned money. One that operates with 100% transparency, charges fair fees, passes back economies of scale and is humble enough to admit when they are wrong. If you are also co-invested at a significant level with your clients, you are truly aligned. What was your reaction to being named Best for Long Term Returns? It was a pleasant surprise, as we never aim to be top or best – our goal is to achieve consistent performance via high diversification, smart asset allocation and efficient investing, to achieve the best risk adjusted outcomes for our clients. What is of utmost importance to us is our clients’ satisfaction and confidence in our ability to look after their money.

But awards are beneficial as they add an element of independent scrutiny to existing and potential clients, status and acknowledgement amongst your peer group, and the credibility bestowed by being a winner serves to distinguish us from competitors. To what do you owe your award win? We would say our success has everything to do with focus. Focus on what we can control – cost and risk, then balancing this with returns; plus focusing on finding the best ETFs to fulfil our tactical asset allocation decisions. Focus on fundamentals rather than listening to any noise or fads. And our contrarian mind-set that is not afraid to go against the tide.

Company: SCM Direct Contact name: Gina Miller Email: gina@scmprivate.com Tel: +44 (0) 207 838 8650 Web: www.scmdirect.com Address: 2 Eaton Gate, Westminster, London SW1W 9BJ

Stability & Flexibility

Reinsurance that stands above the rest

In a competitive environment, we recognise the need for continuous improvement to meet changing demands.

BERMUDA / LONDON / SINGAPORE W W W. H AV E R F O R D B E R M U DA . C O M

HAVERFORD