The Morning Briefing: Future of platform mergers and ESG opens way into commodities

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Good morning and welcome to your Morning Briefing for Friday 12 November, 2021. To get this in your inbox every morning click here.

Platform mergers 

Mergers and acquisitions in the platform space has a great distinction according to Andy Bell: DIY vs advised.

He points out the former is much easier to do technically and more profitable than the latter.

Bell writes: “For advisers, even the hint of their preferred platform being acquired raises alarm bells. It creates a dilemma: move clients early ahead of a migration and any potential disruption, or wait it out until after the migration.”

ESG opportunity 

Environmental, social and governance (ESG) factors can benefit from the short supply of commodities.

As a result, Janus Henderson Investors portfolio manager of the Asia ex Japan equity team Sat Duhra sees great opportunities for commodities to perform well in this environment.

Investors should consider their options for their portfolios.

Terrible loss

Bloomsbury Wealth announced with great sadness the death of Carolyn Gowen (née Corless), its former branch principal. Gowen had been battling with cancer.

In a statement, Bloomsbury Wealth said: “In this profession there are many giants who quietly strive to improve their clients lives and help build a more inclusive profession.

“Carolyn was just such a person, known professionally throughout the world as a passionate CFP professional.”

Quote Of The Day

We should hope for the best, but plan for the worst. Even if we believe that the chances of a sustained rise in inflation are low, we should consider the consequences of being wrong and these look significant to us given the elevated levels of asset prices.

– Ian Lance, fund manager at RWC Partners, comments on inflation and the UK market

Stat Attack

New research from Barclays Smart Investor has revealed that an important number of British investors are putting all of their eggs in one basket.


Admitted not having a diversified portfolio


Believe you should only invest in one company


Said they do not understand what they’ve invested in


Entered into investing before they have sufficient cash savings to act as a buffer


Said they are investing without any kind of plan.

Source: Barclays Smart Investor, Censuswide

In Other News

Titanbay has appointed Trevor Isherwood as global head of marketing.

In this newly created role Isherwood will focus on building a comprehensive marketing strategy to raise the business’ profile, educate audiences on the role of private markets and drive user growth among smaller institutions.

He joins from Fidelity International where he was marketing director for global digital wealth & head of UK Digital and content marketing.

Isherwood previously worked for UBS Wealth Management as an executive director. He also held roles including head of marketing for global emerging markets and Northern Europe.

This appointment comes at a time of significant investment as the Titanbay expands its senior team.

Recent hires include chief operating officer Gareth Read and head of investments Alex Bozoglou.

The Quilter Foundation has renewed and expanded partnership with financial education charity MyBnk.

The renewed commitment will see The Quilter Foundation and MyBnk provide financial education to over 9,000 young people, aged 7-25, in Southampton and London.

MyBnk and The Quilter Foundation have collaborated since 2016. They will continue to deliver financial education programmes for children aged 11-18 in schools and colleges in areas that may have children who have low financial capability or are from disadvantaged backgrounds.

In addition, the partnership will also help deliver two programmes which are aimed at providing survival money skills to over 1,200 vulnerable young people aged 16-25.

All programmes will be provided by MyBnk’s expert trainers and will be aided by volunteers from Quilter plc.

From Elsewhere

Japanese giant Toshiba announces breakup plan (BBC News)

Prime broking braced for new era after Archegos collapse (Financial Times)

China’s zero-Covid policy risks battering global economy, warns Mark Carney (Telegraph)

Did You See?

Adviser fees, and how they are displayed, continue to be a divisive topic within the industry. But what of the firms that display them front and centre on their website? 

Clive Waller explores the issue.