Market volatility over the last year has seen a spike in the intensity of Tait’s client meetings. But the head of London & Capital’s private investment office has stayed firm: ‘We didn’t run for the hills and we didn’t sell out and we didn’t de-risk and the markets have come back to us but in the midst of that maelstrom you’re getting double the number of calls and meeting requests.’
Nevertheless, he’s still bringing on board large clients, taking his AuM to over £650 million as he seeks out new opportunities in areas previous ‘unloved’ by the industry. Notably Greece: ‘It seemed to me one of the least obvious places to go which made me interested – there’s a whole community there that isn’t being looked after.’ It’s an intuitive approach that is also picking up interest in Monaco. He admits there’s a contrast, but as global legislation bites and banks sell out there will be dislocated clients in both locales.
Such business acumen is testament to his astute reading of macro, something he says drew him to the profession, but the main pull was earning the right to advise families.
‘Suddenly there’s this tipping point and they let you become part of their world,’ says Tait. ‘It’s that privilege and insight into what makes these successful families tick that’s the best thing about my position.’
In recent years, that has also seen him broaden London & Capital’s offering of advice when it comes to philanthropy and social impact initiatives. Consultancy which can help UHNW families leave a legacy of which they can be proud.