Author: Tom Wiseman, Managing Director, Enhance London
Exactly one year ago today I joined Enhance and together with Dr Ruzhen Li, established Enhance Investment Consultancy. Our small, London-based team operates within Enhance Group to provide sophisticated investment advice and oversight to ultra-high-net-worth individuals, trusts, charities and the professional advisers that serve them. Our goal at the outset was to offer a personalised yet institutional-calibre service to private investors and institutions that, for one reason or another, do not suit a family office or institutional consultancy arrangement or simply feel unloved by their current investment adviser.
Over the last year much has happened. Significant investment has been made into personnel and infrastructure to ensure that we are in a position to deliver the service we pledge to our clients. Today we are a team of four with offices in Old Bailey. Our most recent recruit, Research Analyst, Zac Lu is a first-class honours student of Mathematics, Accounting and Financial Management. He recently completed an MSc in Investment Management at Cass Business School and is currently studying to become a CFA Charterholder. Zac’s technical abilities complement the relationship management and operational skills of our Client Services Manager, Zoë Avenell, who has over eight-years of client-facing experience in financial services. Together, Zac and Zoë provide an excellent platform for Ruzhen and I to advise clients.
We are now an FCA regulated business* and are fortunate enough to have already gained a number of significant private and institutional investors as clients. To date we have directly advised on over $2bn of investable assets, both liquid and illiquid, on either a project or retained basis. Examples of our recent client engagements include:
$1.2bn Trust – Comprehensive review of existing investment arrangement for trustees
£230m Trust – Provision of ongoing manager oversight and economic research to board
£150m Trust – Liquidity profiling and exit strategy management of hedge fund portfolio for trustees
£260m Charity – Comprehensive review of existing investment arrangement for investment committee
We sense that our positive momentum is due in no small part to the fact that we ‘stick to our knitting’ and focus solely on investment advice, being detailed generalists in our specific area of expertise. We rely on the advice of other professional advisers on legal, tax and structuring matters and passionately believe that clients’ interests are best served by a panel of independent advisers working on a collegiate basis. We also charge sensibly for well-qualified and researched advice, disclosing our fee tariff publicly and quoting a specific fee to each client prior to undertaking any chargeable work. We may not be the lowest-cost consultancy in town but we are certainly transparent and provide very good value for money.
Going forward, we hope to continue to attract varied and challenging work where we can add real value for clients. Our service has been designed to look after no more than 30-40 retained clients, a number that may significantly reduce given the profile of the investors we have been advising so far. We will not compromise the personal nature of the advice and service we provide as this is ultimately what sets us apart from larger organisations. Building long-term relationships and mutual respect with our clients and advisers has always been the basis of our business strategy, after all it is a privilege and not a right to look after money.
For more information regarding Enhance Investment Consultancy, please see our website: www.enhancegroup.co.uk
*Enhance Group (UK) Limited is an appointed representative of ProFin Partners Limited which is authorised and regulated by the Financial Conduct Authority (“FCA”)