Everyone needs financial advice but can you trust it?
Wednesday 23 May 2007
Whilst it is accepted advice is needed to help both protect and accumulate wealth, why doesn't everyone have an adviser?
Everyone has the desire to build wealth. Property, investing into pension schemes, accumulating savings in banks or unit trusts, insurance funds and perhaps even owning shares via stockbrokers, all provide a home for your money. Doing it on your own is difficult and sometimes ineffective.
In my experience the reason many people do not seek out financial advice is due to a lack of trust and the big question, does the adviser add value to justify the cost.
The reality is most advice is not advice, it's a sales process. It will always be a sales process whilst commission is involved.
The good news is there are a growing number of advisers which provide independent financial advice on a Fee Only basis. Fee Only breaks the bond between product and advice.
This is excellent news in principle, but unfortunately in practice the edges have become blurred. Under new regulatory rules introduced in 2005, anyone who offers 'independent financial advice' must be authorised and regulated by the Financial Services Authority (FSA) and offer clients the opportunity to pay for advice in the form of fees.
Independent financial advice is a common term to describe the type of advice but how can you determine if it is truly independent and if the advice adds value?
It is useful to analyse the term independent financial advice. In the dictionary the word independent means... "not determined or influenced by someone or something else; not contingent". However, most financial advisers are remunerated by product providers in the form of commission payments which questions whether the spirit of independence is reasonable.
In fact, it is no wonder why investors are often skeptical of the advise they receive when commission is payable. Product providers' objectives are simply focused on selling their funds to accumulate assets under management. They use eye catching marketing material, past performance statistics (although these should not be relied upon), invitations to social events, incentives and commissions to encourage advisers to promote their funds. As the advisor is getting paid by the fund manager, in essence they are obliged morally in principle to sell their products to you the clients, as in reality they are a quasi employee of the product provider.
Whilst many advisers discuss fees, in practice, commission payments are still used to offset the charges. This is often called Fee Based Advice.
Is there an alternative? In order to remove any possibility of commission bias, investors need to seek Fee Only Advice. Whilst there appears to be a similarity in the words 'Fee Based' rather than 'Fee Only', there is actually as chasm in the principles between these processes.
The role of a Fee Only adviser means that commission does not form part of the advice process. Payment for service is made by the client. In such a way, the investor has complete knowledge that the adviser is working exclusively for them in the provision of financial advice. Any possibility of commission bias is removed. Fee Only advice creates a better foundation for building trust between client and adviser.
Investors need only take a common sense conclusion that is accepted in all work situations. You work for the person who pays you and you would not expect it to be any other way.
Categories: Fees, Articles
posted by Murray Round Wealth Management @ 15:53,
The Science of Investing
Monday 14 May 2007
At one point or another, we have all experienced the rollercoaster of emotions surrounding market volatility. Some thoughts like, “Tech stocks and resources are booming ... buy! buy! buy!” or, “If only I got out a month ago” probably come to mind.
As tempting as it may be to sell investments or move to cash in times when markets are uncertain, it is important to remember that successful investing is a lifetime process, and investors should adhere to their long-term investment strategy through all market cycles.
Through many years of research and experience, we have developed the following series of key investment beliefs, which can help ensure our clients become successful long-term investors, who can meet their goals and objectives in a cost-effective and academically proven way.
Markets Work
Risk & Return are Related
Diversification is Essential
Portfolio Structure (Asset Allocation) Explains Performance
Costs & Taxes Matter
Categories: Asset Class Management, Diversification, Wealth Management
posted by Murray Round Wealth Management @ 19:28,
Costs & Taxes Matter
At Murray Round, we believe investment portfolios should be constructed with costs and taxes in mind. Accordingly, we strive to deliver low-cost portfolios to our clients. Fortunately, this does not mean that portfolio returns are sacrificed. In fact, Murray Round portfolios have delivered outstanding returns to clients, compared to many in the marketplace.
To achieve this, we invest clients’ capital with investment managers who adopt a rigorous and structured approach to investing. This helps reduce the cost of portfolios, as these managers tend not to employ highly paid analysts and researchers purely to ‘pick’ the best assets. Utilising these preferred managers also helps lower the level of turnover within a portfolio (i.e. the buying and selling of securities) to further reduce costs.
Overall, the result is a much more cost-effective investment portfolio for our clients, than could otherwise be achieved by using more “active” fund managers.
Each of these core investment beliefs helps ensure a successful investing experience for each of our clients.
These beliefs are documented in greater detail in our Investment Philosophy, which all new and existing clients benefit from.
Categories: Asset Class Management, Active Funds, Wealth Management
posted by Murray Round Wealth Management @ 19:27,
Portfolio Structure (Asset Allocation) Explains Performance
Studies have shown that at least 94% of the variability of portfolio return can be attributed to the exposure of a client’s capital to the major asset classes and sub-asset classes of cash, fixed interest, property and equities. By taking an academically proven approach to measuring a client’s risk tolerance, we can determine the most appropriate allocation to these asset classes, which will ultimately guide an investor towards the fulfillment of their goals and objectives.
That is, once a strategic asset allocation benchmark has been established, clients can avoid unnecessary stress in times of market downturns, as their benchmark position is specifically designed to maximise the ability to achieve long-term financial goals regardless of short-term market cycles.
Over time, it is important to note that investment portfolios can move away from their benchmark positions. This is because each asset class and sub-asset class behave in different ways at different times.
To manage this, Murray Round conducts periodic reviews of client portfolios, and rebalances them back to the long-term strategic asset allocation benchmark. This is done with sensible tolerances for the natural movement in asset classes and sub-asset classes
over time, which helps ensure the costs and taxes associated with rebalancing are minimised.
Categories: Asset Class Management, Benchmarking, Wealth Management
posted by Murray Round Wealth Management @ 19:27,
Diversification is Essential
Each asset class and sub-asset class behaves in different ways at different times, with each investment in those asset classes carrying some degree of risk. To minimise the risk that any one particular investment can have on a clients’ portfolio (both positive and negative), it is sensible to spread capital over as many different investment options as possible.
Nobody can consistently predict which investments will perform well in advance,
so holding as many individual investments as possible is a sensible strategy to ensure that you at least hold all the ‘winners’. It is the nature of capitalism that over time there will be more winners than losers, and periods of growth will usually be stronger than periods of decline, and will last longer.
Murray Round has undertaken vigorous research to locate appropriate investment trusts which offer the widest range of diversification possible. For example, our clients’ UK share exposure is likely to comprise well over 500 individual companies, which is far less risky than many ‘active’ strategies which typically concentrate portfolios to between 50 and 80 UK companies. Our global share portfolios often hold more than 10,000 companies!
Our research also ensures that these trusts are cost-effective and adopt a structured and patient approach to investing.
Categories: Asset Class Management, Diversification, Research
posted by Murray Round Wealth Management @ 19:26,
Risk & Return are Related
Each investment carries some degree of risk, with some investments carrying more risk than others. While it is certainly possible to outperform markets over the long-term by taking on additional risk, it is important to differentiate between those risks that are worth taking and those that are not.
All investors should be able to achieve a ‘risk free’ rate of return. This is simply the rate of return which can be achieved by investing capital in cash (e.g. in your bank account). Where capital is invested in asset classes other than those that deliver the ‘risk free’ rate of return (e.g. property and equities), it is sensible that investors expect a higher return as compensation for the additional risks involved. That is, risk and return are related. And while this may be the case, many risk factors involved in targeting a higher rate of portfolio return can be managed, to actually help aid the performance of a portfolio as a whole.
One risk management tool we stress to clients is to avoid the temptation of making short-term predictions in an attempt to ‘beat’ the market. It is far less risky, and more prudent, to develop a long-term investment strategy and remain disciplined enough to adhere to this strategy over all types of market cycles. This ensures that you maximise your chances of reaching your long-term financial goals and objectives.
Categories: Asset Class Management, Risk
posted by Murray Round Wealth Management @ 19:25,
Markets Work
Everyone is a participant in a capital market of some kind. Research has shown that no
matter where you are in the world, market participants will direct their capital and work
skills to areas where they expect to achieve the greatest financial benefit.
To illustrate this point, imagine if you were offered the same model of car from a dealer
selling at £60,000, or a dealer selling at £50,000. If you had the information about the car being sold at the lower price, you would surely buy it instead of the more expensive one. This is precisely how capital markets work.
Given the massive competition surrounding supply and demand in capital markets worldwide, asset prices tend to fall quickly to ‘fair value’, which ensures that no one investor can expect greater returns without bearing a higher degree of risk. In fact, markets work so well in pricing assets, studies have shown that up to 94% of the variability of portfolio returns over long term periods is simply the ‘market’ return (i.e. solely due to being invested in a particular asset class).
The potential for individual investors or even professional investment managers to add significant value to a client’s portfolio (by striving to take advantage of pricing ‘mistakes’ in the market and attempting to predict the future) is therefore limited, yet the cost of pursuing this investment approach is relatively high.
We believe that rather than trying to predict the market (or paying a premium for others to attempt it), investors should just let the market work for them. The capital market rate of return is available to every investor, at a reasonable cost, and making unnecessary changes to a portfolio in an attempt to predict the future can prove costly and futile.
Categories: Asset Class Management, Research, Risk
posted by Murray Round Wealth Management @ 19:25,
Tips For Comparing Fund Performance
Past returns are no guide to future performance. While you should never make an investment decision solely on the basis of past returns, examination of a fund’s past performance can help you understand the characteristics of the investment option, and sometimes the asset class itself.
Ensure the returns you are comparing have a common end date. Different end dates can produce very different underlying investment conditions, and generally the figures are not at all comparable.
Look for common time periods, such as the past five and ten year. Be careful not to confuse one and two year numbers appearing in different tables.
Focus on longer-term results – a minimum of five to ten years is usually advisable.
Make sure the funds have broadly similar exposures to growth assets – that you are comparing funds which invest generally in the same kinds of assets. Identify any big differences in the mixture of growth and income assets between the funds.
Check returns have been adjusted in a common fashion for tax and ongoing charges. Some funds will quote returns after investment and administration fees, while others quote returns after investment fees, but before administration fees, which are deducted from a member’s account separately.
Keep in mind that the return shown in your account statement may not match the return shown in the fund’s annual report or product disclosure statement, because of the impact of cash flows, and whether or not the two performance calculations take account of other charges, such as entry or exit fees.
Most importantly, get professional investment advice before making any decision, especially any decision involving switching funds!
Categories: Asset Class Management,
posted by Murray Round Wealth Management @ 19:23,
Future securities prices are unpredictable
Several statistical studies have found that the price behaviour of securities, such as stocks, bonds and commodities, is indistinguishable from that of random numbers. Patterns in numbers occur, technicians attribute great significance to them, but they have no demonstrated persistence or predictive power. Over many decades, the prices of securities trend upward due to inflation and economic growth. Otherwise, future securities prices are unpredictable. However, selling predictions is a big and profitable business.
Categories: Research
posted by Murray Round Wealth Management @ 11:32,
Markets and economies are unpredictable
Given there are thousands of stock market experts, unit trust fund managers, private money managers, and advisors, some will make spectacular calls and accurate predictions. Yet, extensive research has shown that, as a group, the performance of experts is what would be expected from chance guessing, there is no way of knowing in advance who will make the right call, and past success is unrelated to future performance. For example, studies have found that past earnings growth for companies is only weakly correlated with future earnings growth or stock prices. Never-the-less, active managers and investors excitedly watch earnings reports for clues to the future price of a stock.
Economists in both the public and private sector provide a continuous series of data and forecasts in an attempt to predict future economic and investment trends. Yet, numerous studies have found economists cannot predict major turning points in the economy, forecasting skill is, on average, about as good as chance guessing, and economic data is of poor quality and subject to frequent major revisions. For example, one study in the US found that Federal Reserve economists did significantly worse than chance in predicting economic growth and turning points in inflation from 1980 through 1995.
Categories: Asset Class Management, Research, Active Funds
posted by Murray Round Wealth Management @ 11:31,
Asset Class mix is the most important determinant of Investment Returns
An asset class is a group of securities which have similar risk and return characteristics. Examples of asset classes are: one year Treasury bonds, or commercial real estate, or small company U.K. growth stocks, or emerging market stocks. Research has clearly established that performance differences between different professional money managers are due predominantly (90%, or more) to the asset class they choose. Markets, not managers, produce returns.
Categories: Risk, Asset Class Management
posted by Murray Round Wealth Management @ 11:30,
Exceptional Active Managers cannot be indentified in advance
A tiny handful of superstar money managers with outstanding past performance are constantly promoted by the media as evidence for the benefits of active management. Yet, no one knew in advance who would outperform, the odds of selecting one are low, and the results they achieved may be due to luck. Hundreds of carefully done studies have found that past performance of money managers, mutual fund managers, investment analysts, and others is unrelated to their future performance. Track records mean nothing. The two greatest superstar active managers of our time, Warren Buffet and Peter Lynch, both recommend index funds… which form part of an Asset Class portfolio.
Categories: Active Funds, Research, Risk
posted by Murray Round Wealth Management @ 11:26,
What is Equalisation?
When a fund is purchased, it may be purchased between payment dates of the underlying investments. During this period the price of the fund reflects any increase in Net Asset Value (NAV) of the fund arising from the dividend building up in this period. Therefore the fund is purchased at an inflated price. In order to compensate you for this inflated price, the fund manager will return some capital to you in the form of an equalisation payment on the same date as your first dividend payment. This return of capital is then deducted from the amount you originally invested to reflect the true cost of the purchase.
Categories: FAQs
posted by Murray Round Wealth Management @ 11:21,
Buying funds the cheap way
In his column featured in the Financial Mail, Richard Dyson wrote on 14 May 2007:
"Nic Round of adviser Murray Round in Shrewsbury, Shropshire, who avoids mainstream funds because of their expense, says: 'It should make financial sense for an investor who knows what they want to go straight to a fund manager and cut out the broker. But that won't happen. Brokers have become too powerful and now the fund managers do not want to bite the hand that feeds them.'
Round advises his clients to buy cheap, mechanically run funds such as trackers."
Click here for more
Categories: Articles, Asset Clas Management, Commission
posted by Murray Round Wealth Management @ 10:10,
Beware funds bearing fees
Thursday 10 May 2007
In his column featured in the Mail on Sunday, Richard Dyson wrote on 30th January 2007
"Nic Round, adviser with Murray Round Wealth Management in Shrewsbury, Shropshire, says: 'If a fund manager trades a large portion of their portfolio in one year, then total annual costs can approach three%.'"
"Round's solution is to put his clients' money into portfolios of low-cost tracker funds. Trackers have long been available from mainstream companies such as Virgin and Legal & General. But in recent years, new ranges of tracker-style funds have appeared, including inexpensive exchange traded funds (ETFs), which track a large range of the world's stock market indices."
Click here to read more.
Categories: Articles, Research, Fees
posted by Murray Round Wealth Management @ 10:23,
Investors are ‘better off' with index trackers
Wednesday 9 May 2007
It's of no surprise to us that index trackers offer private investors better value! This article appeared in the FT on 7 May..click here to see...Here was the last paragraph.
"...But the study supports the conclusion that, even if fund managers are skilled, investors will not benefit from that skill through higher returns. Only the fund managers will benefit, through earning higher asset-related fees as their funds grow.
"Any outside investor will earn the average return, so is better off buying the market," said Prof Tonks. "
There are a number of issues worthy of discussion in the article but I want to concentrate on the question of skilled management. What actually do we all mean by ‘skilled’?
Most people would assume that a skill is something you have learnt through dexterity and effort. It is essentially a form of professionalism. For example, the most skillful tennis players are professionals. You would not expect an amateur to win against the professional tennis player. But what about the world of fund management? One would expect the professional fund manager, who is paid by you to use his/her professional skills, to beat the market average. That’s why you employ them! But academic evidence shows that over time these skills are difficult to find. Very few managers actually beat the market rate of return. This means you need to rethink what are you actually employing a fund manager to do?
Let’s also be clear about some fund managers. They do beat the market average. This is excellent news but there is no benefit wahtsoever in identifying the manager who has beaten the market, the trick is to find the manager who is going to beat the market in the future. This is where the problem starts for most investors. Let’s continue our tennis analogy. It is fair to say that predicting that Roger Federer will be in the top 5 of the next tournament he plays..or more likely he will win it!...yet can you or your financial adviser pick a fund manager in advance with the same potential for success? Unfortunately, there is no system that offers you such a successful outcome.
Whilst the fund managers may be very knowledgeable and bright, are they actually skilled and professional enough to add value by beating market returns?
If such a skill is difficult to find, then as the headline says “Investors are ‘better off' with index trackers” is unequivocally a better option for most investors.
Categories: Index funds, Analogies, Research, Articles
posted by Murray Round Wealth Management @ 17:17,
UK property shares outstrip FTSE 100
UK listed property has outperformed shares in UK companies over the last twenty years, according to new research from Halifax Financial Services.The company found investors in the FTSE All Share Real Estate index have enjoyed better returns over five, ten and twenty years than those in the FTSE 100, with the five year figure in particular far outstripping the equity market.Over five years to May 2007 the total shareholder return for investors in the FTSE Real Estate index was 23.5pc per annum, compared to 7.2pc in the FTSE 100 and 8.6pc via the FTSE All Share.While less dramatic the trend is also apparent over longer periods, as a £1,000 investment in property would have returned £3,930 over ten years and £7,630 over twenty years, compared to the FTSE 100 returns of £1960 and £6710 respectively….read more
It is clear that investment in the property sector has borne fruit. Every homeowner has an interest in these numbers but they do not need confirmation of these statistics, just a simple look in any local property newspapers to compare house prices is evidence of the growth. The question we all want the answer to is "what will the next 5, 10 15 years bring? "I certainly do not have a crystal ball, but I do believe in fundamentals.
Here’s the first fundamental. Diversification works. It is irrelevant whether property is the top performing asset class in the years ahead, but having exposure to various asset classes means that over the next 10 or 20 year, you will capture the future success story. Diversification works.
Another fundamental. Markets work. The capitalist system encourages success and reward is achieved from taking risk. If the reward was greater by investing in property over the long term, why would anyone invest in equities? But if risk and return are related, then perhaps the next 20 year trend might show an asset class success story other than property!
Categories: Analogies, Philosophy
posted by Murray Round Wealth Management @ 17:10,
Advisers face questions over who pulls the strings
Elaine Moore of the FT on May 4 2007 commented on the debate of commission v fees. Go to the article here
I was interested in the comments made by the FT regarding the confusion over commissions or fees. The debate will continue for years to come simply because the commission based model keeps thousands of people in jobs and companies selling products.
There is never a week that goes by without receiving an email from the marketing department of insurance companies with some special offer for investors, such as ‘extra allocation’ or ‘improved terms’. But these offers are not with reductions in commission terms, in fact, it is often quite the opposite. Of course the advisers to whom they are directed need not take any notice, but the marketing departments clearly know that their strategies work... they do influence advisers, so they keep the message flowing. No wonder investors will remain skeptical. When commission ceases to become part of the discussion process, only then can impartiality be relied upon.
I recall some simple words of wisdom repeated to me some time ago…”…take the view that the most uncompetitive products need a commission included in order to sell them. If the product was that good, it would sell itself. Investors would want to buy rather than being sold!”
Not only the FT are writing about this debate, so are The Times, click here
Cateogories: Commission, Fees, Philosophy
posted by Murray Round Wealth Management @ 17:10,
The Yoga parallel with Weath Management
Tuesday 8 May 2007
The images of Yoga within our web site provide a parallel to our investment philosophy.
Anyone who looks at these pictures will be impressed by the serenity, strength, and levels of fitness that these individuals possess. Their minds appear clear, focused and with an inner strength that will keep them fit and healthy well into old age.
This sense of well being comes from devotion. It requires many years of education and practice. Neither is it complicated. In truth, Yoga is simple. It does require persistency and patience. There is no quick solution, shortcut or easy way.
So how does Yoga create a parallel for our wealth management process?
For most people the world of finance is complicated. It creates an image of buying and selling, with greed driving the dealers …and the more complicated the story helps to sustain an image of highly skilled protagonists generating wealth for themselves and their clients.
This image may be experienced by many investors, yet because of the increases in technology, the world of academia is able to analyse the performance of these professional managers with the result that goes against typical accepted philosophy. The buy, sell, buy, sell attitude does not create and sustain wealth over time. It suits the purposes of the investment manager not the investor. What academia shows is that remaining focused, being persistent with the belief that stock markets work over time offers investors the opportunity to have their wealth fit and healthy. The Yoga analogy is a perfect fit.
Yoga is not about pushing yourself to the limit, this simply creates stress and possible injury on your body, which ultimately impacts on your long term health. Yoga is not about unnecessary effort. It works if you are focused and practice over time.
At Murray Round, we provide the education, focus and mentoring for you to have a successful investment experience over time. Our investment philosophy follows the principles that seek to capture market returns and to avoid the active fund management approach that is shown not to add value over time.
If you are looking for a successful investment experience, we welcome your enquiry.
On a personal note, I would like to thank Brent Kessel, who runs Abacus Wealth in the US, who helped us recognise the analogy of Yoga to finance.
Categories: Analogies, Philosophy
posted by Murray Round Wealth Management @ 15:15,
Nautical Theme with Murray Round Wealth
In the ‘About Us’ section of our web site we have used the world of yacht racing and rowing as a representation of the need for teamwork. Whilst many sports require teamwork, the unpredictability of the sea can prove to be a very powerful ally or foe. Knowing when to let the sea work for you and when to accept its power requires professionalism and teamwork. By ensuring you have the right equipment, the trust of your team-mates, all of whom contribute to your success; means that with such focus you can win any race. Mistakes however lose races
At Murray Round, we have a singular focus on what is needed to help clients have a successful investment experience. We work as a team and understand that economic and political events are outside our control, but they are necessary to keep wealth moving forward. We understand that wealth accumulation, preservation and transference are not successful through esoteric ideas or complicated plans, but by not making mistakes. You become a winner in wealth by not making mistakes.
Categories: Analogies
posted by Murray Round Wealth Management @ 15:10,
Welcome to our Blog
From the beginning of May 2007 we wanted to nail to the flag post what we believe in. There are too few advisers that have no real investment philosophy..why? The world of money, an in particular Wealth Management, is complicated. It is fraught with self interested parties keen to sell investment products which are promoted on the basis of ‘advice’. Instead there is a movement towards managing money in multi manager funds. We believe this is an abdication of responsibility. We understand why it happens, which has much more to do with marketing than added value to the investor. There is however a choice for investors.
This Blog, “What does wealth mean to you?” focuses on the 3 T’s. The Truth, Transparency and Trust. By cutting through the marketing speak and getting to the real issues helps investors make better decisions. We are not interested in selling products to make money, instead our remuneration comes directly from our clients. They want to work with advisers that provide an opinion, a view and advice that has proper impartiality. We hope that readers will use Our Blog as a resource for information and welcome new clients where we can add significant value over time. As Albert Einstein said “Make everything as simple as possible, but not simpler”, lets all get some clarity of thought from the 3 T’s
Categories: Philosophy
posted by Murray Round Wealth Management @ 15:00,
What is a 130/30 Fund?
Saturday 5 May 2007
The description 130/30 refers to the split between a portfolio's "long" and "short" exposure to equities. The funds invest 100 per cent in equities. An additional 30 per cent is sold "short" - where the manager borrows shares and sells them hoping for a fall in price. The proceeds from this sale then fund an additional 30 per cent of normal share purchases. So in total the fund invests 130 per cent in normal share purchases and 30 per cent by selling short.
Categories: FAQs
posted by Murray Round Wealth Management @ 20:39,
What is Beta?
Beta
A measure of an investment's volatility, relative to an appropriate asset class. For stocks, the asset class is usually taken to be the S&P 500 index.
The formula is:
beta = [ Cov(r, Km) ] / [ StdDev(Km) ]2
where
r is the return rate of the investment;
Km is the return rate of the asset class.
If the asset class is well chosen so that the return fluctuations of the investment and the class are highly correlated, then the formula approximates "the volatility of the investment divided by the volatility of the class."
Categories: FAQs
posted by Murray Round Wealth Management @ 11:22,
What is Alpha?
Alpha is measure of a stock's performance beyond what its beta would predict.
Categories: FAQs
posted by Murray Round Wealth Management @ 11:18,
What is Redemption risk?
Redemption risk: Clearly related to hedge fund liquidity and timing risk, redemption risk relates to how easy/difficult it is for an investor get his/her money out of a fund.
For more information, visit the article at Nixon Peabody
Categories: FAQs
posted by Murray Round Wealth Management @ 10:39,
The Authors
Nicholas Round
Nic is the Managing Director of Murray Round Wealth Management Limited, who seeks to ensure the advice provided is truly independent. Based in Shropshire with clients local, national and worldwide, Nic has strived to find the best possible service for his clients needs, by researching and studying the market, trends and philosophies. Nic strongly believes Asset Class Management will bring his clients Financial Freedom, Independence and Happiness.
Kirsty
Kirsty is our communication guru. Managing information requires considerable due diligence and her passion for organisation gives the clarity we all seek. From Shropshire, with a Psychology Degree and much travelling, she is now back in Shrewsbury...and London often, keeping us all at Murray Round focused.
Welcome to our Blog
Our Blog focuses on the three Ts...truth, transparency and trust. The world of investment management is fraught with self interested parties keen to sell investment products but wrapped up as 'advice'. Only with totally transparency, can investors make informed and successful decisions. We have included various categories for simpler navigation, alternatively search our Blog using key words you think are relevant. We hope you find something of interest to you.
Contact Us
We welcome your enquiry to us. Simply click on Contact Us' link at the top of the page. You may also email us at service@murrayround.co.uk or telephone 01743 248108.
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