The origin of Acorn Capital Advisers
“One of the most interesting things about what we do at Acorn Capital Advisers is deal with the unpredictable.”
Acorn Capital Advisers grew out of the best kind of combination, where purpose and intent meet opportunity.
After 40 years in financial services, I had reached a point in my career where I wanted to again have more of a direct impact on clients. As a bank CEO, particularly during the various banking crises, my time was spent firefighting at a corporate level. This meant I was spending less time with clients, developing long-term relationships; so, I wanted to make sure that what I did next would involve direct client work. I knew I wanted to help make a difference, have some fun and remain engaged and challenged.
Over the years, friends, former clients, families, and family offices had often sought me out, wanting guidance on how they could best manage their financial affairs. They wanted my advice on who the best investment managers were and why, whether they should establish a family office and if they had one, what they should do to make it as effective as possible. Increasingly they also wanted to discuss how to think about philanthropy and impact investing as well as how to discuss money with their children.
I had worked with Diane Seymour-Williams for a decade at the beginning of our careers and shared my observations with her. I discovered that she was having a similar experience and interestingly, we both found that people from the industry were also seeking our input. A regular conversation was how they could utilise external expertise and collaborate to provide an enhanced offering for their clients.
The opportunity
What became increasingly clear was that there was a demand for truly independent advice across a range of specialist areas.
Instinctively we felt there was a gap in the market that brought these strands together, weaving them into a combined and bespoke service.
From everything we had heard, we knew that potential clients were looking for an up-to-date grasp of the investment and family office sectors and experience of running not just money, but also businesses. They were looking for people who could be close to the money (but not managing it), to make sure they got the best out of their managers and value for money. Values were also important, trust essential, as well as sound judgement and ability to untangle the complexity and jargon of the financial landscape.
With our combined experience and networks, we were excited about the potential of what we could offer our clients. The key questions we set out to answer were whether there would be enough demand and how we should charge for this bespoke service. As we discreetly built up the partnership and worked with several families, family offices and trustees, we found there was demand and that our collaborative approach and our practical solutions were really appreciated.
Meeting the needs of our clients
We now work with a wide variety of dynamic and forward-thinking clients, from first generation entrepreneurs to multigeneration families, endowments, and trustees.
We help small family offices, who don’t have the resources of large financial institutions, navigate the growing number of financial products, and stay on top of the complex regulatory requirements and ever-changing technology. Our job is to earn the trust of the family office team, supplement their resources and keep them up to date with cutting edge practices.
We know it’s tough for a successful entrepreneur who’s busy with their family and business to devote the time needed to manage a family office or to oversee several investment managers. So, we act as gatekeepers and co-ordinators for those who do not want a big private office infrastructure and wish to focus on growing their businesses.
For entrepreneurs who have the resources of a full family office, we put in place the operating infrastructure, governance and decision-making framework required. Most importantly we help them design the optimum combination of in-house and outsourced management.
For families wanting to make sure that their wealth has an impact beyond financial return, we work with them to develop a philanthropic and impact strategy. We help build consensus between generations, support the strategy implementation and monitoring, as well as manage the grant making. What has been particularly valued by clients is how we have developed our asset allocation framework to embrace both capital, financial, ESG and impact investments.
In an environment where trustees are required to prove that they have fulfilled their fiduciary duties they need to be able to show that they have set appropriate investment objectives and risk levels for the beneficiary and evidence that the investment managers have delivered the performance required. With growth in litigation from beneficiaries it is becoming increasingly necessary for Trustees to protect themselves against potential law cases. We provide an independent investment audit and are regularly asked to recommend enhancements to the asset allocation and manager selection.
One of the most interesting things about what we do at Acorn Capital Advisers is deal with the unpredictable. We love the fact that our clients will also ask for our input on areas that we do not specialise in, such as how best to buy a precious stone or sell a house off- market and within 24 hours we will have found a global expert in that field.
The combination of Brexit, the pandemic and inevitable economic fallout has thrown a lot of things up in the air. Right now, the world feels unpredictable, so as well as helping our clients untangle the complexity of managing multigenerational wealth, we’re also working to increase control and confidence in their future.
Ps if you are wondering why there is a photo of a cockerpoo, my dog is called Acorn. And yes, the business is named after her!
