TrinityBridge: A wealth of energy and ideas clients can count on
In March, Close Brothers Asset Management unveiled the TrinityBridge name following completion of its sale to funds managed by Oaktree Capital Management LP.
As a standalone, independent business, this year sees the respected institution embark on the next phase of its journey. TrinityBridge has also launched a £35 million investment programme to enhance its technology as it becomes an independent firm.
For Marcelo Rodrigues, Managing Director of TrinityBridge in Scotland, any suggestion that this current era of geopolitical uncertainty is the wrong time to launch as an independent business is quickly swept away. 'There's been uncertainty before – the financial crisis and recession in 2008/09 and, more recently, the Covid pandemic – and it is inevitable that we will face periods of uncertainty in the future,' he points out.
'My view is that during times when there is so much volatility… that is when the value of what we do as a business really comes to life! The world doesn't stop for our clients – they still have decisions to make and businesses to run. Our job is to provide guidance and support, and help them navigate challenges and optimise opportunities provided by an ever-changing external environment.
'We can't control politics or what's happening at home or in other parts of the world – but we can control the service and the advice we provide to our clients, and how these are constantly reviewed and adapted to create the best possible outcomes for their individual circumstances.'
Mr Rodrigues, who joined the company last summer from Schroders Personal Wealth where he was responsible for business development and partnerships, has also held senior management positions at NatWest and Lloyds Banking Group.
As a highly qualified and experienced Wealth Manager himself, he is unapologetic about his belief that a client-centric approach is the only feasible route to sustainable success, and one that benefits all parties involved.
At TrinityBridge, he is 'channelling the energy of the people in the business' to drive it forward and achieve its growth ambitions. 'We have a very powerful business model with our integrated proposition of investment management and financial planning – that makes us stand out in the wealth management space and able to react to market influences,' says Mr Rodrigues.
He also points to TrinityBridge's people as its 'biggest asset', adding: 'We're a people business. We have a great mix of people from various backgrounds – some have trained with the Big Four, others have started their career with us. Our recruitment process is very thoughtful and having such a diverse pool of talent is hugely beneficial for our clients, too. It's a very cohesive approach, combining experience and creativity from a thoroughly diverse set of minds.'
Looking at the wider investment management and financial planning landscape, Mr Rodrigues points to a huge amount of consolidation in recent years, largely driven through increased regulation which makes it more difficult for smaller competitors. 'The UK market has always been very fragmented, which makes it more challenging to regulate,' he explains. 'It makes it difficult to maintain oversight, often leading to poor client experiences and results
'Regulation evolves and that is important if we are to deliver the best outcomes for our clients.'
With offices in Melville Street, Edinburgh and Glasgow's St Vincent Street, TrinityBridge serves clients the length and breadth of the country, from Shetland down to the Scottish Borders, covering the islands, Inverness and Aberdeen, now home to GB Energy, the new, publicly-owned, clean energy company set up by the UK Government.
'Growth is very much on our agenda, and our priority is organic growth. We want to grow the business in a sustainable way,' Mr Rodrigues points out. 'We are focused on our existing client base and what we find is that, when you do that, growth comes through client referrals from their network.
'That is the most sustainable way to grow and ensures that our clients receive what they want and deserve.'
Asked if TrinityBridge will expand its physical presence in Scotland in the future, Mr Rodrigues said: 'We will absolutely explore any opportunities that arise and it is interesting that we've experienced considerable growth in rural areas. We support clients from many different sectors, including agriculture, land management, renewables, and oil and gas. As we grow, we will not rule out opening new offices.'
As part of its growth ambitions north of the Border, the firm has also recently announced the appointment of Andrew Knight as client relationship director for Scotland.
Mr Knight has a proven track record in financial planning and client relationship management and will play a key role in identifying and securing new client relationships, developing strategic partnerships, and enhancing the firm's market presence.
'As we move forward, our key message to our clients is that we have an incredibly strong brand – we may have a new name, but our clients continue to be served by the same people they have built strong, trusting relationships with,' assures Mr Rodrigues. 'There's a new name above the door but it is business as usual.
'However, we know that we need to work very hard to keep raising awareness of the benefits of what we do – for existing and prospective clients. We take nothing for granted in a competitive environment but we do play to our strengths and the fact that we have bespoke investment management and financial planning services under one roof is very much our key point of difference.'
www.trinitybridge.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Herald Scotland
7 hours ago
- The Herald Scotland
UK saving vs investing in your future: the right balance for you
When we talk about saving and investing, we generally think of it as setting some money aside for the future. Go deeper into it, however, and it becomes clear we're talking about two quite distinct activities. For example, what do we mean by the future – next week, next month, next year or indefinitely? How much are we putting aside, where does it go and what do we want from it? The answers to these questions tell us whether we're talking about saving or investing. And it's important to understand the difference. Broadly speaking, saving is about putting money aside in the short term, whether it's for a 'rainy day' buffer fund or to pay for something specific, such as a holiday, car repair or work on the home. It usually entails putting money into cash accounts that can be accessed at short notice. Read more: Money HQ | What has changed about retirement today compared to 30 years ago? But while cash savings are a vital part of our resources – financial advisers recommend aiming for three to six months of 'emergency' money, if possible – they aren't usually suitable for longer-term goals, not least because cash tends to lose value to inflation over time. This is where investments come in. Investing is about setting money aside and leaving it untouched so that it can have the potential to grow into a bigger sum, benefiting from the 'snowballing' effect of compounding. It involves taking more risk with the money you put in, but the ups and downs of markets typically even out over the long term (five years or more). What are the reasons for saving? In its Financial Wellbeing Strategy, the Money and Pensions Service (MaPS) says: 'Saving and putting aside money for later life are similar behaviours, but people can approach these tasks with different mindsets.' Saving is very much in the here and now. It's dictated by our current circumstances, how much we can set aside, our immediate needs and objectives. 'It's about determining what the money is for,' says Tony Clark, Senior Propositions Manager at St. James's Place. 'Building an emergency fund in case the washing machine breaks down means needing instant access and accepting the money is in cash and not earning a great deal.' Circumstances have an impact as well. For example, rising inflation means many households have less disposable income available, if any. However, difficult times, such as inflationary periods and the COVID-19 pandemic, also remind us of our financial vulnerability and the importance of having a safety net. Investing for the long term So why do people invest? Because it's also important to focus on 'decades not days' – investing for our future self rather than our present self. 'Investing also requires purpose, but the goal isn't always clearly defined,' Tony observes. 'Retirement is a good example – we don't know the final figure we'll need for the future, but we know it'll happen one day.' Sometimes there will be a particular goal in mind, such as saving for a child so they have financial resources on reaching adulthood. While putting money into a Cash ISA for 15 to 20 years might prevent you from spending it, its value will be eroded by inflation. Read more: Money HQ | Retirement saving hacks for younger people Stock-market-based investments tend to produce much more growth over the long term due to the risk-reward relationship. This is the principle that by taking more risk with our money, we have the potential to receive more reward. 'Shorter term usually means not taking a risk and so saving into something more cautious or guaranteed, such as cash,' explains Tony. 'For longer-term objectives, we'll have greater risk tolerance by comparison as we have the time to recover from any volatility.' There are several ways of ensuring you don't take more risk than you're comfortable with, while you can also manage risk by making sure your investments are well diversified (spread across different assets). We can guide you through all of this and help keep your investments on track to meet your long-term objectives. Best of both worlds In a perfect world, most of us would be both saving for the shorter term and investing for the medium term (six months to five years) and long term. Not only does this make sense financially, but it's good for our wellbeing, too. According to MaPS, financial wellbeing is about feeling secure, confident and empowered, which includes knowing you can cover your short-term financial obligations while also being on track for a healthy financial future. In other words, a combination of saving and investing can be hugely beneficial, says Tony. 'This is where speaking to an adviser comes in, as they'll help you to understand your short, medium and longer-term goals, then consider the right balance for you between shorter-term savings needs and longer-term investment objectives.' The value of an investment with St. James's Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested. Ben Stark is a chartered financial planner with over a decade of experience advising businesses and families. He is partnered with St. James's Place Wealth Management.
The National
13 hours ago
- The National
Here's how a wealth tax on Scotland's luxury properties could work
Writing in The National, Craig Dalzell said that the Scottish Government's refusal to reform Council Tax for a decade is 'completely unacceptable' when there is a simple solution. He argued that the current system is 'outdated and badly broken', and that as well as reforming how local authorities are funded, it would place most of the tax burden on those with more expensive homes. Currently, Council Tax bands are based on property values from April 1991, but house prices in some areas have since surged. The Scottish Government recently said that there is no 'political consensus' to undertake a revaluation of those bands. READ MORE: James McMurdock MP worked for bank while 'claiming Covid loans' Dalzell argues that instead of the current system, local authorities should tax properties on a percentage of the market value. The Property Tax would generate millions from estates and plush mansions across Scotland, as well as those who own more than one property. And, extending this Property Tax to include estates and land could work as an additional wealth tax. A rate of 0.63 per cent, when Common Weal produced a paper on the issue, would "have been revenue neutral compared to Council Tax", Dalzell said. This would mean a tax cut for eight out of 10 households in Scotland, Dalzell claimed, 'as the burden of paying the tax would be placed more fairly on those who lived in the most expensive houses'. 'We calculated that the 'break even' point then would have been a house worth something like £400,000. This is based on a flat rate of tax, too,' Dalzell writes. 'We would argue that councils should have the power to add progressive rates on extremely valuable properties, such as £1 million-plus mansions or, as is the case with the current Council Tax, additional multipliers for multiple home ownership. 'This would immediately act as a wealth tax both on the most expensive properties but also on multiple property ownership.' Council Tax is currently paid by those who occupy the property, many of whom are tenants. Dalzell argues that property owners should pay up instead and tenants would only pay a basic rate. 'Landlords would have to pay any multiple ownership surcharges themselves,' he added. READ MORE: Inside the Scottish Greens leadership contest Extending this Property Tax to include land around large properties could bring in an additional £450m a year, Dalzell says. 'This could be adjusted down to account for subsidies for small farms, or up to better tax the 422 people who own half of Scotland,' he said. 'One of the major advantages of both of these taxes – one that negates objections from both the UK and Scottish Government whenever taxes on the wealth have been suggested – is that they completely bypass the idea that the rich will simply leave the country. 'Recent studies have shown that the idea of 'millionaire flight' basically isn't a thing.'
South Wales Guardian
3 days ago
- South Wales Guardian
Badenoch says ‘rush' to meet net zero pushing up holiday costs
The Conservative Party leader opened a new domestic arrivals building at London Stansted Airport in her North West Essex constituency on Friday. She slammed Labour's 'ideological' plans to reach net zero by 2050, a target she previously dismissed as impossible to meet, and said they would hit holidaymakers. 'Labour's ideological rush to Net Zero 2050 is not only bankrupting our country and leaving us dangerously reliant on China, it's also making holidays more expensive, just as the cost-of-living crisis for working people gets worse. 'Under my leadership the Conservative Party are going to make things easier for the makers, the people who work hard to provide for their families, and not force up the cost of their summer holidays,' she said. The Tory leader pointed to plans to raise air passenger duty and the Climate Change Committee's call for the cost of decarbonising aviation to be reflected in the cost of flights. Speaking to airport staff during the visit, Mrs Badenoch told them how the pandemic showed how 'critical' Stansted was for the local economy. 'But I always tell the story of how when Covid hit and so many people lost their jobs, all of those people turned up in my surgeries. 'It really showed just how critical the airport was, how important it was for the local community and well beyond.' The new arrivals building was part of a £1.1 billion transformation at Stansted, the UK's fourth largest airport. The work, expected to continue over the next three to four years, will also include a £600 million extension to the main terminal, increasing its size by 40%.
