Latest News

Finance Controller Appointment at Enhance Group

Enhance Group Limited (Enhance) are delighted to welcome Fergus Gibson as Financial Controller.

Fergus, who will take responsibility for all aspects of the Group’s finances, joins Enhance from a global intermodal container leasing and finance company where he was the Finance Director.
Fergus started his career with PricewaterhouseCoopers. He worked in the financial services environment for more than 15 years spanning a range of sectors: Audit & Business Advisory Services, Banking, Container Leasing and Asset Management. Prior to that, he worked for BlackRock in London as a Business Partner supporting the firm’s Global Retail Business with their expanding onshore and cross-border Retail fund ranges. Fergus is a Fellow Chartered Certified Accountant.

Tom Wiseman, Group CEO, commented:

“I am delighted to welcome Fergus to the company. His experience is of great value to our organisation and he joins our team of talented people who will lead the company forward”.

New Head of Investment Consultancy at Enhance Group

Enhance Group Limited have appointed Dr Ruzhen Li as Head of their Investment Consultancy offering.

Dr Li, who is based in London and previously held the position of Head of Research has been with the company for 3 years.

Before joining Enhance, Ruzhen was one of the founding members of investment advisory firm LJ Athene Advisory Ltd, a company that was established after a Management Buyout of Deloitte Private Client Services Limited, where she started her career, completed her CFP and then became a CFA Charter Holder.

Ruzhen completed two first class engineering degrees simultaneously in Shanghai Jiao Tong University in China and was subsequently invited to pursue a PhD in Computer Modelling in Biochemistry with Queen Mary University of London on scholarship from the Government (ORS) and the University itself.

In her position as Head of Investment Consultancy at Enhance, Ruzhen will continue to actively advise on international families who require tailored outsourced investment solutions.

Enhance Investment Consultancy (EIC) is a truly independent consultancy business, servicing global families who wish to have a team of highly qualified investment professionals on side as trusted advisors to source the best solution providers for their needs. EIC works closely with fellow professional advisors such as lawyers, accountants, trustees and tax advisors to make sure the investment solutions are consistent with other needs of the family.

Dr Ruzhen Li, commented,

 

“I am delighted to be taking on the position of Head of Investment Consultancy. I am very grateful that I have been given the freedom to build the consultancy business based on independence, research and service, supported by a very comprehensive reporting platform which the firm has built over the past decade. We’ve seen a great demand for our services both in London and abroad and I am very much looking forward to keeping the momentum and growing our client base”.

Tom Wiseman CEO of Enhance Group, commented:

“Ruzhen is a massive asset to our team and we are thrilled that she has taken on this new role. Having someone of Ruzhen’s calibre, with her extensive industry experience, qualifications and connections heading up our Investment Consultancy offering in London I am confident we will continue to develop our bespoke services whilst ensuring the absolute highest level of consultancy services”.

 

Enhance Group Announce New Chief Operating Officer

Enhance Group Limited (Enhance) are delighted to announce that Justin Simpson has been promoted to Chief Operating Officer.

In his new role, Justin is responsible for the on-going operations of Enhance Group, overseeing systems, product development and project implementation, and remains a director of Enhance Wealth Consultancy and chairman of the Investment Committee.

Justin has been with the company for over 8 years and holds the prestigious Level 7 Masters in Wealth Management from the Chartered Institute of Securities and Investments as well as the Investment Management Certificate.

Justin Simpson, new COO of Enhance Group, commented:

“I am really pleased to be taking on this new role as COO of Enhance Group. To have been a part of the growth and expansion of the company over the years has been a pleasure and I look forward to starting the next chapter of my career at Enhance Group”.

Tom Wiseman, Enhance Group CEO, commented:

“We are delighted that Justin has stepped up to this new role and that we have been able to promote from within the company. Justin has been an integral part of the team for many years, contributing greatly to the company’s global success. His skills, knowledge and experience are the perfect fit to take on this position and will strengthen our offering as we move forward and continue to grow”.

 

Enhance Group Announce New CEO and Executive Chairman

Enhance Group Limited (Enhance) has today announced that Tom Wiseman, currently the Managing Director of the London business, will become group CEO from the 1st October. Existing CEO James Painter will now take on the role of Executive Chairman.

Tom, who is a Chartered Member of the Chartered Institute for Securities & Investment (CISI) and has been successfully leading the London business for some time, will relocate to Jersey to take on this new role. James, who was one of the original founders of the business in 2005, will now focus on strategic direction at board level, as well as supporting the company’s global business development.

James Painter, former CEO and new Executive Chairman of Enhance Group added:

“Since the business was first created, we have averaged strong growth of 27% annually through delivering great products and a first rate service to clients internationally. Now that our experts who were sent out to establish the Company in Cayman, Geneva and Singapore have achieved their objectives, and the majority of the work is being facilitated from Jersey and London it was the appropriate time to increase our governance and management structure in our head office. In this regard I am delighted to be able to promote and recognise talent from within our team, which is why we are very lucky to have someone of Tom’s caliber ready to head up the business. I am confident with Tom’s leadership and fresh approach that the business will continue to grow and go onto even greater success and I look forward to supporting him in his new role.”

Tom Wiseman, new CEO of Enhance Group, commented:

“I am delighted to accept this new role as the CEO of Enhance. Over the last few years the company has gone from strength to strength and expanded into several new markets. My time heading up the London business has given me valuable insights into the evolving needs of our global clients and how we can provide the new products and services that they need. Jersey is a fantastic, high quality jurisdiction to base this business from, and I am also very excited to have the opportunity somewhere so beautiful.”

 

Enhance Group – Performance Analyst for Portfolio Adviser Wealth Manager Awards 2018

Entries are now open for the Portfolio Adviser Wealth Manager Awards 2018 and Enhance Group are delighted to be the provider of performance analysis for the 6th year running.

Wealth Managers, both boutique and large, who provide investment selection and asset allocation for their clients will have the opportunity to be recognised for brilliance in their field. Entrants will be judged on the results they have achieved based on both qualitative and quantitative data with the hope of being awarded a gold or platinum award for the following categories:

  • Cautious
  • Balanced
  • Aggressive
  • Absolute Return

Wealth Managers can also enter the Media Marketing Award for the company which has shown a level of excellence in their online brand awareness as well as their use of social media.

The independent judging panel is made up of a number of representatives from top organisations in the fields of law, finance, accountancy, consultancy and trust who have experience of working with Wealth Managers themselves.

Paul Tanguy, Investment Analyst at Enhance Group commented:

“Being involved in the Portfolio Adviser Wealth Manager Awards for the last 6 years, we have seen the number of entrants more than double, which not only demonstrates the prestige of these awards within the industry but also reinforces their credibility. Each year we have been able to refine and streamline the analysis process in order to ensure that the judges have fair and robust information to work with when judging such a competitive marketplace.  We’re proud to be supporting the awards again and wish all of the entrants this year the very best of luck.”

The Deadline for entries is Friday 15th September. For more details on how to enter please click here http://bit.ly/2gqOhwx

 

How big is the universe?

Author: Tom Wiseman, Managing Director, Enhance London

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There are several hundred Discretionary Fund Managers (DFMs) serving the UK fiduciary community. If this is extrapolated to other jurisdictions where the use of Trust structures is widespread then one can reasonably expect the number of relevant DFMs to multiply. How then can any Investment Consultant, let alone a Trustee, hope to rationalise this ever-growing universe and ensure that the advice they provide to clients on manager selection is truly ‘whole of market’?

This is a problem for which there is no practical solution. DFMs are complex entities with portfolio products that, unlike Mutual Funds, are not publicly traded and so there are simply too many in the market for any individual or firm to track comprehensively. Unfortunately, fee levels simply do not support research of this scale. However, there are some helpful independent peer group studies that offer respectable market coverage such as STEP Trustee Managed Portfolio Indices (TMPI) and ARC PCI

Such studies are funded by participating DFMs through annual subscription fees to provide the fiduciary community with a common platform for their due diligence. In many respects it is a marketing levy on DFMs – those that pay to participate achieve greater visibility with their client demographic and implicitly gain credibility for their commitment to industry transparency. The consultancy firms behind these studies are remunerated for their intellectual capital and the infrastructure required to provide the service.

Enhance Group powers one of these peer group studies, STEP TMPI. This is a free STEP member service with a universe of over 40 DFMs that submit real client portfolio data across three core risk profiles and several base currencies. Manager subscription fees are tiered to be as inclusive of the DFM community as possible with its study output and related tools such as the TMPI Focus List provided to STEP members for free. It is proving to be a very efficient conduit between DFMs and Trustees and is a helpful source of revenue to an important fiduciary governing body.

Like fiduciaries generally, Investment Consultants often refer to such studies as part of their ongoing manager research process and Enhance in London is no different in this regard. However, it is important to note that the TMPI universe is not representative of the broader universe of DFMs that we research to select our approved managers for consultancy clients.

Our ‘approved list’ for consultancy is an independent matrix of managers that we have identified from a far broader sample of DFMs, amassed over our 11-year history in the oversight industry. Our monitoring business provides a richer pool of DFMs for us to review, with real client data now received from over 700 investment offices worldwide. Performance is one of the four headline criteria we assess against DFMs, so receiving so much real client data through our reporting client base is an excellent way for us to identify outperforming DFMs for further due diligence.

We rely on our industry experience in senior investment management and research functions to quantitatively and qualitatively assess DFMs against other criteria: process, people and price. We do this through due diligence questionnaires, onsite manager visits and the use of third-party databases and analytical systems. Our approved manager matrix is our intellectual capital and this can only be accessed by our consultancy clients. Approval is not bought, it is earned by the DFMs we select and we stake our reputation on our manager selection prowess.

Our consultancy fees are paid solely by our clients, therefore it is in our interest to select and monitor the best possible DFMs on our client’s behalf. This cannot possibly be achieved through the TMPI universe alone because the market coverage is too thin, although it would be disingenuous to say that such studies are not useful industry proxies or that they could exist without a manager subscription model.

As long as appropriate measures are carried out, such as the Chinese Walls and additional independent research that we undertake at Enhance, clients can rest assured that they are getting and uniquely informed advice for their fees.

For more information about our manager selection process please refer to: http://www.enhancegroup.co.uk/our-process

Enhance Expands its Jurisdictional Footprint with Geneva Office Opening

James-Painter

Enhance Group Limited has today announced the launch of a new operation in Geneva.

The new Enhance Geneva office will provide a full service offering to current and prospective clients seeking investment oversight, investment consultancy, investment reporting, wealth consultancy and treasury services.

The announcement follows a period of substantial growth for Enhance, with new offices opened in London, the Cayman Islands and Singapore over the last 2 years. The company also announced this month the launch of its new Enhance Investment Consultancy offering in London.

CEO of Enhance, James Painter, will be heading up the new operation in Geneva. He commented:

“We see Geneva as an increasingly important operational base with a concentration of world class financial service providers. We are pleased to expand our jurisdictional footprint with an expansion into the Swiss market.”

Enhance Investment Consultancy Launches in London

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Enhance Group Limited has launched a new service in London: Enhance Investment Consultancy (EIC).

EIC has been established to offer genuinely independent, institutional-style investment advice on the management of private capital. The service will provide a small number of clients and their trusted advisers with tailored advice on portfolio construction, liquid and illiquid manager selection and oversight and the custody arrangements associated with global wealth.

The EIC service will be managed by Enhance London’s Managing Director Tom Wiseman who is a Chartered Member of the Chartered Institute for Securities & Investment (CISI) and Enhance’s Head of Research Dr Ruzhen Li, who is a Chartered Financial Analyst (CFA).

The launch comes shortly after Enhance Group’s expansion into Singapore and the Cayman Islands.

Tom Wiseman, Managing Director of Enhance London, commented:

“I’m delighted to officially launch EIC after a significant period of expansion for Enhance. Being a truly independent company, we are ideally placed to provide our clients with unconflicted investment advice that is squarely in their best interests. Given Enhance Group’s global footprint and £20bn of client assets under review, we maintain oversight on hundreds of investment managers across a variety of asset classes, currencies and jurisdictions – providing a robust, institutional calibre research framework for the EIC offering. As EIC will provide a bespoke service, the number of clients we look after will be relatively small, ensuring the service they receive is truly dedicated and highly personalised. We look forward to the months ahead.”

Please visit the EIC website and read the EIC brochure here.

6 New Jurisdictions in 18 Months: Opening up the FX Markets with Enhancefx

Author: Kevin Moore, Head of Treasury, Enhance Jersey

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With fintech continuing to shape the global financial landscape, firms and individuals alike have a whole new range of tools at their disposal to get better results at lower prices. Technology has opened up incredibly powerful services to smaller businesses, and we are seeing more and more wealth managers turning to fintech firms to help them carry out their fiduciary responsibilities in a way that’s more transparent and cost-effective for their clients.

Having worked in the trust and fiduciary industry for over ten years, Enhance saw the challenges companies working in the fiduciary sector were facing and the benefits that could be gained through the use of platform technology. An area where we are clearly seeing the positives of fintech’s role to supplement and complement financial services is where professional trustees undertake foreign exchange transactions. Here technology has brought transparency to what was previously quite an unclear market, driving down prices for clients in the process.

Before the advent of fintech a market intermediary requiring FX, such as a trustee, would turn to the bank holding the account of the entity they were administering to get a quote and execute the trade. While the trustee might have shopped around to see if they could get preferential terms elsewhere, they still didn’t have access to the data which would let them assess the reasonableness of any of those rates in the first place.

This led Enhance to partner with a leading fintech company in 2014 to form a new, first-of-its-kind service platform in Jersey, Enhancefx. Whilst transparency and competitive exchange rates were available from a number of platforms we wanted to look beyond these issues and create a platform that addressed the other common challenges, including a lack of flexibility and management tools, the costs of additional setups, the lack of a central point of contact and communications to track the status of payments, alongside restrictive reporting capabilities and the lack of an offshore banking facility.

For anybody managing wealth in a fiduciary capacity, transparency for clients and having a trusted adviser whose expertise you can rely on are central. By providing an holistic, integrated FX platform Enhancefx now provides trustees with complete management control over currency and multiple payments, reducing the time and cost of making transfers, alongside a clear audit trail, and a single point of contact should they have any questions.

By addressing foreign exchange transparency and providing control over the payment flow Enhancefx has addressed significant issues for the fiduciary sector. This has clearly tapped on a nerve which has reverberated globally, with the platform opening up across 6 new jurisdictions since its foundation 18 months ago.

Spotting such openings in the market and finding ways to automate processes and maximise the use of data is at the heart of successful fintech solutions. These developments are radically shifting the profitability of the market in favour of clients, presenting challenges and opportunities alike for the whole financial sector.

Enhance Group Announce New NED Appointment

Lyndon-Trott

Enhance Group Limited is delighted to welcome Chairman of Guernsey Finance, Lyndon Trott, to the company as Non-Executive Director.

Lyndon has vast knowledge and experience of finance, having worked in the industry for over 30 years. He has been a Guernsey Finance board member since 2013 and assumed the role of Chairman in December 2015, he was also Guernsey’s first ever Treasury Minister and progressed to become the Island’s longest serving Chief Minister to date. He currently holds independent Non-Executive Director positions with several organisations including a leading Guernsey based fiduciary company and the world’s largest independent private equity and real estate fund administrator among others.

Lyndon Trott, commented:

“Advances in technology are changing the shape of finance as we know it, Enhance is one example of a local business that has built their success on innovation in this rapidly evolving area. I look forward to helping them reach their goals and objectives, while developing my own insights as the fintech industry continues to evolve in the Channel Islands.”

James Painter, CEO of Enhance, commented:

“I’m delighted to appoint Lyndon as our new NED. Lyndon has a deep understanding and knowledge of the industry. In his new role at Enhance, Lyndon will leverage his business expertise to provide support and advice to strengthen the company, as we continue to move forward and deepen our offering. I’m looking forward to seeing the impact of this appointment as we continue to expand our business in 2016.”

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