It’s been ‘a good year so far’, says Pinto, detailing the success of Stanhope’s newly launched private equity and real estate offerings. ‘This has come as a useful complement to our wealth management platform at a time when clients are willing to invest more in illiquid asset classes for the benefit of higher returns.’
That long-term security no doubt has value as interest rates comatose; although that too gives him a chance to provide for clients: ‘We will also soon be launching a vehicle dedicated to private credit’.
It’s not just responsive but responsible he says. Clients understand that with interest rates being so low or actually negative, the norm is now a low return environment not just in bonds but across asset classes. Therefore, clients ‘count on their wealth managers to find new investment opportunities suitable with these market conditions even if it means taking a bit more risk or accepting some illiquidity.’ The second chief client concern, he says, is to better manage risks across their many portfolios.
‘Our Family Office Solution platform, which consolidates and monitors their assets across many managers is an ideal tool to achieve this objective,’ says Pinto.
Elsewhere the firm he founded is continuing to expand in core UK and European markets.
‘We have also added clients from Latin America and the Middle East,’ he says.
Although lean markets during a period of expansion have no doubt been a concern, the wealth management legend highlights a more specific challenge.
‘As we expand, it is key to maintain the entrepreneurial spirit within the firm. [We are] always thinking about how to keep good performance and high levels of service,’ he emphasises.