In this article we discuss the role that Tilney's investment managers can play when working with professional advisers and their clients.
The first step
The first and most important task for Tilney's investment managers is to understand what your client wants to achieve and how much investment risk they are prepared to take. After this, they can use our Central Investment Team's asset allocation work as a framework to begin constructing their portfolio.
This part of the process is quite defined, and as you would expect there are lots of strict rules and controls in place to ensure consistency across all Tilney investment managers. For example, a cautious portfolio will likely look fairly similar to another cautious portfolio as they are both based on the same asset model.
However, we also feel it is important to remind the client that it is their money, and should they wish to personalise their portfolio, the opportunity to do so is available. Our investment managers are able to accommodate client requests and deviate from our asset allocations.
A personalised portfolio
Often clients may want to exclude an asset class. For example, if they own a commercial property they may not want any further exposure to that asset class. Others might have a favourite sector or geographical area, for example, a recent client had a lot of business in Brazil and was confident it was going to do well so he asked for more exposure to emerging markets in his portfolio.
Ultimately, whether a client wants more or less exposure to a particular sector or asset class, it is their choice and we can usually accommodate it. We make sure the client understands that our view may be different to theirs and that the change could affect their portfolio performance.
Income generation is another area where we may also make changes. Clients might want a certain level of income in retirement, and we may be able to tilt the investments so the portfolio produces a higher natural level of income.
We are very proactive in reviewing client portfolios. We will do this when our view on an underlying fund manager changes or when the portfolio needs rebalancing. We also review portfolios when there are changes to our macroeconomic views and asset allocations – but we don't always need to take any action. We have a certain tolerance around the midpoint for asset allocations and also look at the overall level of risk in a portfolio – so as long as the portfolio sits within these ranges, and the level of risk remains suitable, we may not need to do anything.
Working with Tilney
At Tilney we have been managing clients' investments for many years, and our specialists provide discretionary investment management services for many financial advisers. We never forget the position of trust that we are put in when you choose us to manage your clients' personal wealth.
With more than 30 offices across the UK, we can provide you and your clients with a truly personal service, wherever you are based. We offer several investment services, each underpinned by a disciplined investment process and delivered by some of the UK's most experienced and highly qualified investment professionals.
Our Personalised Investment Management Service is designed for clients with £250,000 and above, where a tailored portfolio is most appropriate to meet their specific goals. We also offer a range of model portfolios managed both on our own internal platform and across a number of the UK's leading platforms. And finally, our risk-rated multi-asset funds provide convenient, low-cost access to our discretionary investment management expertise. These unitised funds are available across a number of platforms for investors with £50,000 or more.
Investment management services for US connected clients
Due to the complexity around US reporting requirements, many investment managers find US-connected clients too onerous to work with. However, our dedicated US team has the experience and supporting infrastructure to meet these needs and we can provide a full range of discretionary investment services to US-connected clients.
Offshore investment management
We can also provide investment services for those seeking custody offshore. We have a truly global client base and considerable experience working with non-UK situs assets and non-UK sourced income.
Tilney's Model Portfolios on Platforms and Personalised Investment Management Service have been 5 Star rated by Defaqto.
Investments can go down as well as up and investors may not get back the amount invested.