It’s good to talk – especially to your fund manager

March 17, 2010 5:44 pm by Lucy Warwick-Ching

At a crystal ball event to debate some of the current issues affecting the wealth management industry, David Scott, Founder of Vestra Wealth, said that fund managers have a duty of care to their clients, whether through the good times or the bad. Communication was the key. With the current uncertainty in the capital markets and bubbles of rising and falling asset classes, there is a need to maintain a regular dialogue with clients who are looking for a mix of performance, integrity and trust from their wealth manager.

David said: “We dedicate ourselves to having consistency in process. We develop a rationale for our investment process which the client understands and we ensure this is communicated, whether we achieve the returns we’re aiming for or not. It is unforgivable when fund managers do not communicate with their clients during a downturn.”

The Vestra event was held at its City office with a panel including former economic adviser to Tony Blair, Derek Scott, and leading fund manager Adrian Paine, founder of Oxburgh. Sebastian Dovey, managing partner of Scorpio Partnership was also a panellist.

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Lucy Warwick-Ching is the FT’s new Money Online Editor and has been a UK Companies reporter covering tobacco, pubs and leisure companies as well as the deputy editor on House and Home.

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Josephine Cumbo has written about all aspects of personal finance but currently specialises in insurance. She also covered company news for FT.com. Prior to working at the FT she was a news reporter for the ABC.

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