Far more than just a stockbroker

May 7 2008 by The Journal

OFFERING a diverse range of international investments from commodities and property vehicles to bonds and hedge funds, it’s clear that Brewin Dolphin is far more than “just a stockbroker”.

In the fast moving and dynamic world of investments, diversity and a shrewd long-term view is key. At the forefront is Brewin Dolphin, a well-known national company with a strong local presence, that is able to demonstrate a strong track record and has extensive resources.

Vinay Bedi, divisional director, says the firm can create “bespoke tailored solutions” that do not rely too heavily on one particular asset class.

He said: “The resources we have across the group mean we can offer a much broader product range. There are lots of different ways of investing and there are so many different investment vehicles.”

Steering the investment managers and creating a clear strategy is Richard MacAlister, Brewin Dolphin’s director of investments in Newcastle. His job is to ensure that all investment managers have the right guidance, tools and research at their fingertips so they are well equipped to make the decisions which tailor portfolios for their clients.

A stalwart of the firm since 1986, he sits on various committees at group level including the monthly asset allocation committee in London. This lively, and no doubt exhausting meeting, enables the firm’s key people to look at the merits of different asset classes and analyse the geographic spread.

“There’s no substitute for experience,” he said “These strategists have ridden the peaks and troughs of the markets over the years and know that performance can be down to a number of factors including sentiment, psychology and confidence. It’s not just analysing figures.”

The firm also has a specialist asset management team based in Newcastle, which deals with gross funds for clients such as pensions and charities.

“We’ve been dealing with some large charity clients in the North East for over 50 years,” said Mr Bedi. “No-one else in Newcastle offers a pure specialist asset management team. We offer a very disciplined investment process with detailed performance reports and analysis.

“It’s a slightly different process as we are not constrained by Capital Gains Tax in our dealings, whilst trustees often take a more cautious approach when they are investing money that is intended to benefit others.

“Each has their own specific requirements and in particular we have to be careful to balance the needs and objectives of the trustees with what is both attractive and available in the markets.”

Mr Bedi stresses how in today’s environment this is very much a role for investment specialists and trustees are now beginning to expect this. He added: “They realise that they are utilising a safe pair of hands and that no undue risk will be taken.”