NMA retreat 2021 – Russell

Along with around 120 other finance professionals, I was invited to the annual Citywire New Model Adviser (NMA) retreat 2021 at the Grove Hotel in Watford.

The main objective of these retreats is to mix with other members of the industry, better understand the offers from a range of quality-filtered fund managers that may be relevant to our clients and the make-up of our managed Model Portfolios, and have an insight into hot topic areas that, again, may have an impact on what we do and how we do it.

As you can imagine, as we emerge from the pandemic it was good to hear the macroeconomic views of economist Stephen King (regular contributor to The Financial Times) and especially how the UK may be expected to begin to pay back its burgeoning debt – ‘Grow your way out – unlikely, Cut spending – unlikely, Tax more – likely’. More to come I am sure.

We heard from Marga Hoek (business leader and adviser working in sustainability) who reconfirmed the need to not purely talk about the umbrella title of ESG (Environmental Social/Governance) investing but understand how it relates to the UN’s Sustainable Development Goals – this will become increasingly more important in the global drive to supporting and demonstrating real Change & Impact in this area.

The 20 fund providers that were invited gave a wide range of views around enhancing clients’ risk-rated portfolio growth, from more defensive stocks such as Strategic Bond funds to higher risk Global Equity growth stocks, whilst we were reminded that we shouldn’t ignore the (inheritance) tax efficient opportunities offered by often unloved stocks within the AIM-listed UK market.

All in all it was a very relevant & informative few days, a lovely change from webinars via zoom and reminded me that we are in a people industry, many aspects of which can’t be easily replicated by technology!