Max Weatherby, co-founder of Eclipse Private Office, shares his investment philosophy, which focuses on risk management and the importance of asset allocation, on the launch of this new podcast show and series aimed at guiding clients through their financial journey.

In conversation with Rob Lawrence, Max shares his insights into the investment process, the importance of blending active and passive investments, what sets Eclipse apart in an increasingly crowded marketplace, and Max's own journey as a portfolio and wealth manager.

Episode takeaways:

Eclipse specific:

• Eclipse Private Office provides tailored wealth management services.

• Independence allows Eclipse to work with the best managers.

• Reputation and trust are prioritised over brand recognition.

The Podcast:

• The podcast will provide clear steps in wealth management.

• Max's ebook, 'The Client Journey,' inspired the podcast.

• The goal is to make financial information accessible and engaging.

Key takeaways:

• The private wealth industry is becoming commoditised.

• Active and passive investments both have their place.

• Risk management is crucial in investment strategies

Chapters:

Introduction to the Eclipse Wealth Podcast (00:00) Overview of the podcast’s purpose, audience, and the “Client Journey” series.

Welcome and Introduction of Max (01:06) Rob welcomes Max and sets the stage for the discussion.

What Eclipse Private Office Does (01:22) Max explains the firm’s services, client base, and specialisation in business owners.

Eclipse’s Unique Approach (02:32) How Eclipse differentiates itself from larger wealth management firms.

Investment Philosophy at Eclipse (04:15) Discussion of Eclipse’s investment philosophy, margin of safety, and risk management.

Long-Term Planning Approach (06:33) How Eclipse structures portfolios for short, medium, and long-term goals.

Active vs. Passive Investments (07:25) Max’s views on blending active and passive investment strategies.

The Client Investment Process (08:19) Step-by-step walkthrough of Eclipse’s investment process and ongoing management.

Asset Allocation, Risk, and Performance (08:54) Detailed explanation of asset allocation, risk management, and performance monitoring.

Working with Other Advisors and Additional Services (11:17) Collaboration with lawyers, accountants, and offering peripheral services like estate planning.

Joined-Up Thinking and Client Relationships (12:33) Eclipse’s role as a primary relationship manager and liaison for clients.

Advice to Younger Self (13:44) Max shares personal guidance on investing and life for his younger self.

Founding Story of Eclipse (14:21) How Max and David founded Eclipse and identified a market gap.

Max’s Career Journey (16:32) Max’s early experiences, career path, and transition into wealth management.

Influences and Mentors (19:05) Key experiences, market events, and mentors that shaped Max’s philosophy.

Vision for Eclipse’s Future (21:40) Max’s long-term vision for Eclipse and plans for growth.

Trends in Private Wealth and Use of AI (22:54) How the industry is changing and Eclipse’s adoption of AI for client service.

Why Start a Podcast?...

In this first leg of the client journey, host Max Weatherby with Mohammed Uz-Zaman, and Harry Badman discuss the essential steps in financial planning for younger clients. They explore the challenges faced by younger generations, including the rising cost of living, housing market pressures, and the importance of financial literacy. The conversation highlights the Thrive by 35 initiative aimed at providing financial advice to those under 35, emphasising the need for financial education and support. The hosts also delve into the role of credit cards, the necessity of financial protection, and the importance of having emergency funds to navigate unexpected expenses.

Takeaways

• Financial literacy is crucial for a prosperous future.
• Understanding credit cards is essential for financial health.
• Emergency funds are vital for unexpected expenses.
• Insurance can prevent financial disaster for young families.
• The 50-30-20 rule is a practical budgeting method.
• Financial advice is accessible and beneficial for all ages.
• Investing in oneself is more valuable than material possessions.

Chapters

01:05 Introduction to Financial Planning

02:15 Challenges Faced by Young Clients

06:32 The Thrive by 35 Initiative

10:17 Understanding the Housing Ladder

12:25 The Role of Financial Literacy

15:21 Credit Cards: Friend or Foe?

18:30 Budgeting and Saving Strategies

20:32 Understanding Rental Payments and Credit Scores

21:10 The Importance of Financial Protection

22:26 Life Insurance and Income Protection for Young Families

24:26 Navigating Permanent Health Insurance

28:04 Critical Illness Cover and Whole of Life Insurance

31:29 Emergency Funds: Building a Safety Net

35:06 Key Takeaways for Financial Planning

Useful links:

Connect with Max Weatherby on LinkedIN

Connect with Mohammed Uz-Zaman on LinkedIN

Connect with Harry Badman on LinkedIN

Visit the Eclipse Wealth Podcast website

Post production by Podcast First

None of the ideas expressed on this podcast constitute financial advice and we strongly encourage anyone listening to consult with a qualified independent financial adviser before making any investment decisions on their own account.

The Eclipse Wealth Podcast is delivered by Eclipse Private Office which is a trading style of Peregrine & Black Investment Management Limited who are authorised and regulated by the Financial Conduct Authority here in United Kingdom.

In this episode of the Eclipse Wealth Podcast, host Max Weatherby delves into the principles of financial accumulation and investment strategies with guests Nick Marshall, and James Clark They discuss the fundamental definitions of investment, the significance of compound interest, and the importance of diversification. The conversation also touches on the risks associated with investing, the rise of sustainable investing, and historical market behaviours, including manias and Ponzi schemes. The episode concludes with practical tips for first-time investors and book recommendations for further learning.

Takeaways

Investment is simply deploying your capital to make a profit.

Compound interest is a powerful tool that allows you to earn interest on interest.

Diversification is crucial to mitigate risks in investing.

Investors should expect compensation for delaying consumption.

Understanding market behavior can help investors avoid pitfalls.

Investing is a long-term commitment, not a short-term game.

Professional advice can guide first-time investors in their decisions.

The value of investments can fluctuate, and awareness is key.

Historical examples of market manias provide valuable lessons for investors.

Chapters

00:01 Introduction to Financial Accumulation

02:35 Defining Investment

05:01 The Power of Compound Interest

16:43 Compensation for Delayed Consumption

20:53 Investment Choices for First-Time Investors

26:54 The Role of Shareholders in Investment Funds

26:50 Historical Financial Manias and Their Lessons

31:55 Understanding Ponzi Schemes and Investment Risks

33:52 Mitigating Investment Risks Through Diversification

34:24 Book Recommendations for Investors

Useful links:

Connect with Max Weatherby on LinkedIN

Connect with James Clark on LinkedIN

Connect with Nick Marshall on LinkedIN

Visit the Eclipse Wealth Podcast website