News & updates

News & Updates

Investing to secure defined outcomes

Final-salary pension transfers tell us a lot about the wider need for customised investment solutions, goal-based and outcomes-driven, to replace standardised portfolio types. Failure of conventional solutions Defined Benefit (DB) transfers, where a known, secure real...

The US to UK switch

In this article we give a glimpse of how our modelled probabilities for future real equity returns feed into dynamic asset allocations for the equity component of any Fowler Drew portfolio. This 'look behind the scenes' uses the highly-topical example of the UK and US...

How not to worry about inflation

If your pay, pensions and investment returns were all perfectly indexed to general inflation, would you care much what happened to prices? Imperfect indexation to, or compensation for, inflation is one of the biggest risks individual investors face. How do you improve...

Cost comparisons in wealth management

Cost comparisons for 25 UK wealth management firms submitting data to FT Money in June 2021 imply that, at all portfolio sizes above Fowler Drew's minimum amount, our annual management fee, plus platform or custody costs, is significantly below the average. These cost...

Flat fees versus asset-based fees

How you pay for private-client investment services matters, but not as much as what you pay for and how much you pay. How you pay is typically now between flat fees, independent of the value of a transaction or portfolio, and asset-based fees, where a percentage rate...

Are equities overvalued?

Let's briefly go behind the scenes of the Fowler Drew portfolio-management model to see why we think equities are not generally overvalued. The key numbers are shown in the chart. This is familiar territory for investment professionals but private investors may...

Performance benchmarks in goal-based wealth

In a previous article, Whose performance is it anyway?, we addressed the significance of performance, for both clients and the firm, in goal-based wealth management. Our key observation was that when assets are managed to meet client-specified outcomes (or...

Whose performance is it, anyway?

Private clients buy performance, it is said. This is not what they buy from Fowler Drew. Once they see what we’re doing it becomes obvious they are buying something to do with the satisfaction their money can provide, not performance. Test drive The Planner yourself...

The Active/Passive debate

In our paper An explanation of Active/Passive we address the active versus passive investment question: pick stocks or buy the market? We put forward an agnostic case for opting out of active management, or security selection, in favour of a passive approach of...