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

Summary

In this short bonus episode of the Eclipsewealth Podcast, host Max Weatherby is re-joined by guests Nick Marshall and James Clark to discuss the role of asset allocation in the effective management of investment portfolios. They explain the different asset classes and how they can be deployed to manage both risk and return for client portfolios.

Takeaways

Asset Allocation is an important source of return over time

Strategic asset allocation can help smooth returns in challenging markets.

Diversification is crucial to mitigate risks in investing.

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

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

Chapters

01: 28 Definition of Asset Allocation

02:00 How managers add value through asset allocation

05:02 The various asset classes

05:48 Fixed Income

07:48 Alternatives like Gold

09:22 Commercial Property & infrastructure assets

10:20 Structured products

11:59 importance of independent advice

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

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.

Summary

In this conversation, Ashleigh Cherry & Kim Uzell discusses the challenges individuals face when trying to save money, emphasizing the distractions and temptations that often lead to spending rather than saving. They highlight the importance of developing a savings habit, no matter how small the amount, to ensure that money can start working for individuals in the long run.

Takeaways

Life's expenses often distract from saving for the future.

Saving even a small amount is better than saving nothing.

Building a habit of saving is crucial for financial health.

Financial literacy is key to managing personal finances effectively.

Setting aside money regularly can lead to better financial outcomes.

Understanding spending habits can help in budgeting.

Creating a savings plan can mitigate impulsive spending.

Long-term financial planning requires consistent saving habits.

Chapters

Introduction to Financial Planning

Understanding compund interest and it's components

Changing mindsets around saving

Making savings tangible

Habits of saving/investing regularly

Creating a financial environment

Useful links:

Connect with Max Weatherby on LinkedIN

Connect with Ashleigh Cherry on LinkedIN

Connect with Kim Uzell on LinkedIN

Visit the Eclipse Wealth Podcast website

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.

Summary

In this episode, investment professionals Ian Goodchild and James Clark discuss the significance of time in the market versus timing the market. They explore historical lessons, the importance of patience, the impact of changing life expectancies on investment strategies, and the power of compounding. The conversation emphasizes the need for long-term investment strategies, the challenges of market volatility, and the pitfalls of trying to time the market. The episode concludes with practical advice for investors to stay the course and remain patient in their investment journeys.

Takeaways

Time in the market is more beneficial than trying to time it.

Historical patterns in the market can inform current investment strategies.

Investors should consider their time horizons, especially with increasing life expectancies.

Starting to invest early can significantly enhance returns due to compounding.

Compounding interest is a powerful tool for long-term wealth accumulation.

Market volatility is normal and can present opportunities for investors.

Patience is crucial; emotional reactions can lead to poor investment decisions.

Market timing is extremely difficult and often leads to missed opportunities.

Investors should focus on their long-term strategies rather than short-term fluctuations.

Investing regularly, such as through dollar-cost averaging, can mitigate risks.

• Episode 5 Link to Reading references on Dropbox - We make reference to these 3 articles during Episode 5 and listeners may downlode them to read with kind permission of the following firms. JP Morgan Asset Management Fidelity Asset Management Charles Schwab
• Direct link to JP Morgan slides referenced on Episode 5 - This link takes you to the JP Morgan Asset Management website and a short document entitled "Principles for successful long-term investing ." In this course of this episode 5 of the podcast we make reference to some of the slides shown in this document. These slides are shared for educational purposes only and copyright is with JP Morgan.
• Reference Slides for Episode 5 - In this podcast we make reference to some charts and research provided by the following financial institutions: - JP Morgan - Fidelity - Charles Schwab We have been given permission to share these with our listeners on the podcast and you can view these as PDF files from our Dropbox folder by clicking on this link

Chapters

00:00 The Importance of Time in the Market

03:10 Learning from History

04:18 Changing Time Horizons

06:02 The Power of Compounding

08:51 Long-Term Investment Strategies

11:03 Navigating Market Volatility

13:35 The Role of Patience in Investing

19:25 The Pitfalls of Market Timing

23:37 Understanding Investor Behavior

28:27 Case Studies in Investment Strategies

34:13 Final Thoughts on Investment Success

• Episode 5 Link to Reading references on Dropbox - We make reference to these 3 articles during Episode 5 and listeners may downlode them to read with kind permission of the following firms. JP Morgan Asset Management Fidelity Asset Management Charles Schwab
• Direct link to JP Morgan slides referenced on Episode 5 - This...