Date office opened: 1995
AUM: £725 million
Number in team: 69
Average portfolio size: £750,000
What is your office motto? Life should be enjoyed.
Bullish or bearish? Mainly bearish.
Top 3 fund picks:
- Baillie Gifford Japanese
- H20 MultiReturns
- AHFM Defined Returns
Q&A with Gaynor Rigby, managing partner, Equilibrium Asset Management, Cheshire
What is your typical client demographic?
Though we have a varied client base, our typical client is aged 63 and either at or nearing retirement. That being said, some of our clients are business owners and entrepreneurs with some time to go before they retire. Our client base is almost exclusively based in the North West.
What differentiates your region?
Whilst we don’t have the same level of overseas wealth as London and the South East, there are concentrated pockets of affluence throughout the North West. There’s not the same degree of choice for investors quite yet, but the expectation for high quality service is the same as it would be anywhere in the country.
What challenges are facing your area?
Recruitment is the biggest challenge. Whilst the North West is growing rapidly, there isn’t the same density of financial services and banking firms as London, and therefore a smaller talent pool. You have to be creative with your recruitment strategy and be on top of your game to attract new people. A great reputation and a fantastic benefit package helps!
A growing challenge is simply the ever-increasing competition in the area. There is a great deal of wealth across the region and the growing business community, partly as a result of the Northern Powerhouse Partnership. This presents a fantastic opportunity for wealth management firms, especially those who want to diversify away from a saturated London market.
We have noticed more firms launching in the area and seeking greater market share, so we have to keep on our toes to attract new clients.
What’s the best thing about living in your area?
We’re based in South Manchester and very lucky to have great transport links nearby. As well as being close to Manchester Airport, the rail and road links make it very easy to travel around the region to meet clients, and prospective clients.
The quality of living is generally high, house prices are lower than the South and there is a growing choice of high end restaurants, bars and art galleries.
As a wealth management firm, the North West is a great place to work as there is a fantastic (and growing!) client base in the region.
What’s a typical regional saying?
’Waitrose is out of Moet, again!’ #FirstWorldProblems
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In the second part of our CEO series, we explore the burgeoning ESG concept with fund bosses outlining how they try to make a difference.
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In the second part of our exclusive video interview with Paul Feeney, we hear the Quilter CEO's views on the investment managers leaving the firm, along with his promise to platform users.
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In a new CEO series, a revealing film discusses the myth that asset management is a meritocracy and why men tend to be more pushy when it comes to pay rises and promotions.
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MPS Investment Committee: Mohsin Bukhari, Carrington Investments
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MPS Investment Committee: Will Dickson, P1 Investment Management
Citywire Wealth Manager Retreat 2018: What a treat!
Pub Club: Tim Harman, Thesis
MPS Investment Committee: Christopher Aldous, Charles Stanley
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Pub Club with Charles Nicholson, Charles Nicholson Asset Management