Financial Times - January 2008
Contributor : Tony Foulkes

Monday

Office based today, primarily working on a reallocation of a clients portfolio as their needs change from high growth to capital preservation. In some respects I'm pleased to not have to be tearing around too much, as I'm still nursing the bruises after spending part of yesterday on ice skates for the first time in 17 years. It's amazing what we do to entertain the kids, and I don't think Robin Cousins has too much to worry about!

As I work, I take a brief break to listen to Henry Paulson on Bloomberg TV. Although modern technology can occasionally be an intrusion, some very useful snippets can be picked up from the likes of Bloomberg, and it helps keep me up to date with some of our intellectually challenging clients.

Tuesday

The day starts with a query from a client looking to invest capital resulting from a business sale. He wants to look at a fairly cautious approach as he is not going to get this opportunity again. This seems to be the current theme, given the volatile nature of investment markets, as my next meeting is also to discuss an investment portfolio which has done very well in the past three years, the client wants to hold on to as much of the gain as possible, yet still have the opportunity for growth. I propose some changes to give greater diversification and also to build up some liquid funds, these are accepted so it's now time to take prompt action.

Plenty of red on the Bloomberg screen again, this will make my meeting with a multi asset fund manager later in the week quite interesting. My role in the company is somewhat split between dealing with clients that I have looked after for a number of years, whilst also being the person responsible for detailed investment analysis and fund and product research and I find that the technology available to me has become so essential that I do not think I could operate in such a role without it.

Wednesday

I arrive nicely refreshed after last nights taekwondo training session. I find that taekwondo not only keeps me physically sharp but has mental benefits, as most martial arts require a high degree of concentration. It seems to get certain company broker reps more focused when I contact them with yet more stories of poor service! Today I have a drawdown review to conduct and the client has not received great service from his provider, at least such arrangements can now be transferred and recent new entrants appear to be concentrating more heavily on service.

Later in the day I have a telephone conversation with a client thinking of incorporating some commodity ETF's into his SIPP and wanting to know more. It strikes me just how much the investment industry never stands still and what now seems to be quite exotic will become part and parcel of everyday arrangements in the not too distant future. It also places a great deal of responsibility on advisers such as myself to ensure that clients fully understand the increasingly complex nature of investment products.

Thursday

I am in a relaxed mood when I drive to carry out a portfolio review at a clients home in a nearby village. With an outlook across the village green it is times like these that I'm pleased I operate in a rural setting. This is a view shared by the client, who retired here from a career with a major London publisher. This trend is good for our business, yet I am also fortunate to be only 10 minutes drive from a mainline station that can whisk me into London in just over 2.5 hours. More taekwondo tonight, this time a little more serious sport training which involves wearing body armour, if my clients could see me now!

Friday

My meeting with the multi asset fund manager goes well, he has taken time out of a busy schedule to discuss matters with me at a hotel on the edge of Durham. As a result I am confident to place a seven figure investment for a small group of clients. Then it's back to the office for a meeting with a client who spends much of his time working away from home, so much to catch up with.

Finally I can attack the mound of papers that still remain part of the role, despite our company having made massive strides to reduce the amount of paper in recent years.