On the Road: 9 wealth managers' new year resolutions

Guy Foster, head of research, Brewin Dolphin

The dollar impact of China on the rest of the world is now growing faster than that of the US. It is hard to overstate how totemic this change is. Over the last year, Chinese imports grew about three times as much as US imports did.

This is a unique feature of the current cycle. Therefore, I hereby resolve to spend at least as much time watching the PBoC as I do watching the Federal Reserve.

I also plan to go on a diet.


Haig Bathgate, CIO and joint-CEO, Tcam Asset Management

The absence of a short-term catalyst for decline has seen bullishness reach its highest level in the past five years. However, history shows us that such euphoria often precedes a correction and accordingly my resolution is to maintain the same approach.

We continue to invest in those areas of the market where valuations remain supportive and have added explicit tail-risk protection. We are avoiding those areas where late-cycle enthusiasm has driven significant multiple expansion.

Sophie Kennedy, head of research, EQ Investors

I try not to think of these as resolutions, more like a new year plan:

Ramp up the fitness regime and run a few half marathons

Continue with a wide range of volunteering activities at EQ

Relearn French; my GCSE seems a lifetime ago

Finally stop smoking – eight days and counting

James Horniman, portfolio manager, James Hambro & Partners

My main resolution is to cancel all meetings in January, except those with clients, so I’ll hopefully avoid the colds going around at the moment.

I am told I should try to improve the quality of my jokes to ensure they are at least mildly funny, but I think a resolution is something you should have a chance of keeping.

In terms of investments, it’s business as usual, I am rationing myself to reading just one ‘the end of the bull run is nigh’ article a day.

Katie Tasker, investment manager, Charles Stanley

My resolution is to read more on behavioural finance. The topic fascinates me; I have always wanted to learn more to deeper understand my clients’ thinking.

Concepts such as the Gambler’s Fallacy and Hindsight Bias have been particularly relevant when analysing investor’s reactions in light of the referendum and US presidential election result. 

Outside of work, I am hoping to learn to cycle in cleats, hopefully making me more efficient when I compete in my third triathlon later this year.

Edward Park, investment director, Brooks Macdonald

As markets and the economy mature, I would suggest three investment resolutions for 2018.

Ensure portfolios are balanced: Make sure portfolios contain a blend of risks so you are not overly exposed to the path of the broader market.

Invest thematically: rather than basing on geography, this allows a more precise control of the risk and rewards in a portfolio.

Research alternatives: this can provide returns that are uncorrelated to equities may prove key in 2018.

Peter Sleep, senior investment manager, Seven Investment Management (7IM)

My resolution is to take back control, not of my loft space (now occupied by old suitcases and my grown-up childrens’ old clothes), but of the pensions I have built up from different jobs in the past.

From time to time I get letters from my old firms offering online access to my pension accounts. My resolution is to go through the Quality Street tin where I throw these letters, set up passwords and, if I have to, be patient when I speak to helplines. 

There is a chance I may be able to consolidate my pensions and even cut the costs I am paying.

Jonathan Bell, CIO, Stanhope Capital 

Last year, we increased our capability to invest in accordance with clients’ ethical views, by focusing more effort on the ESG analysis we undertake.

We are not prescriptive in our approach. Different clients can have contrasting views on acceptable ethical policies, but an objective for me this year, is to continue this work so that we can support clients to invest in a manner consistent with their own resolutions.

Joel Dungate, investment analyst, Redmayne Bentley

Usually, new year’s resolutions encourage us to be daring, to move out of our comfort zone and embark on something new. However, from an investment perspective, my main resolution is to play it safe.

In our increasingly globalised world, the delicate harmony of the global economy can be all too easily disrupted. In this case, the investor who remains disciplined and sticks to their goals 
and investment principles will be best rewarded.