Let’s ask a simple question: in the world of wealth management, what does the CEO of a national firm actually ‘do‘ for you, the investor?
You’re paying fees. Often not small ones. But where exactly is that money going?
Most people assume that when they pay a wealth manager, they’re getting a team of experts personally looking after their money. A safe pair of hands. A sense of control. But the reality is far less reassuring.
Here’s the truth: when you invest through a big-name national firm, a big chunk of your fee is going to head office. You know, the building full of people in suits who you’ll never meet. Senior managers. Project leads. Brand executives. Internal compliance. Layers of bureaucracy. And of course—the CEO.
And here’s the kicker: ‘they don’t manage your money’.
They don’t build your portfolio, handle your financial planning, or even speak to you. Their job is to make sure the machine keeps running. To create frameworks. Sales targets. Brand strategies. Marketing funnels. Materials that help their front-line salespeople (yes, that’s what they are) persuade people to invest in the firm.
And when they do talk about “investment strategy,” it’s often just packaging: your money is usually handed off to external fund managers and third-party asset allocators. The CEO’s role is to oversee a profitable business model. And that means ensuring your fees are high enough to pay their salaries, bonuses, office costs, and shareholder returns.
So let’s be honest: ‘what value do these people actually bring you as the investor?’
I’ve yet to find a compelling answer. If you never meet them, never hear from them, and they don’t help grow your money, why are you paying for them?
It’s worth thinking about. Especially when you realise that personal service, transparency, and genuine value are often found in much smaller, practitioner-led firms, where the people you deal with are the ones doing the work. No suits behind the curtain. No corporate engine to feed.
Just real advice. From real people. Who actually work for ‘you‘