Edison was included in a beauty parade to select a firm to manage the assets of a family discretionary trust, settled from the life assurance benefits of a sudden and unexpected death in the family, with a professional and a family member as trustees. Despite a very united and understanding family, at the forefront of the trustees’ mind was finding advice on what objectives were achievable for the beneficiaries longer term, which was sensitive to the recent loss.
“They clearly understood the challenges the trustees were facing both personally and financially.”
“We recently organised a beauty parade for a client, with whom we are co-trustees of a family trust. The trust was created following the death of a family member – a tragic turn of events which placed upon our client a responsibility he would have preferred not to have.
Edison was included in the beauty parade as we believed their approach of focusing on the trust’s goals would help the trustees decide how best to invest. This was especially true given the conflicting objectives of the trust: to provide care for an older beneficiary whilst also helping the next generation of beneficiaries.
We also included two larger, more conventional managers in the beauty parade, both of which chose to focus their presentations on their history and proposed portfolios. It felt a little like they had ‘all the answers’, without really asking any questions.
The meeting with Edison was much more interactive and meaningful.
They clearly understood the challenges the trustees were facing both personally and financially.
The discussion focused on the trust’s competing objectives, what the trade-offs might look like and how they would influence the investment strategy.
The explanation of their investment process and how it is designed to deliver the return that’s needed was really clear. It was also refreshing that they showed all of their investment performance, rather than just picking a time period that suited them.
We also talked about how Edison manage their business which felt reassuringly robust and it helped that the team are able to bring their experience from working in larger businesses too.
Overall, Edison have offered a level of support to our client way beyond what you would normally expect from an investment manager. The service levels are very high – the account opening, transfer of assets and implementation of the agreed strategy was quick and effortless and the portfolio is already delivering ahead of expectations.
Appointing Edison gives us, and our client, all of the tools and advice we need to make some difficult financial and sometimes emotional decisions.”
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