We, and, we are sure, most other IFAs, welcomed the good work started in 1999 by Daniel Godfrey, director general of the AITC, in raising awareness of investment trusts among the investing public.
The subsequent endorsement by the AITC of the consolidated investment service Transact gave further proof -if anyone needed it – of the support of IFAs by the AITC.
Investment trusts, from plain vanilla to split-capital, provide a varied range of solutions to financial planning problems. IFAs are best placed to provide this advice and recent developments allow them to do so on a level playing field with unit trusts and other investment types.
The “its” campaign has generated a great deal of interest among the investing public, so it is with some concern we note that a number of investment trust managers seem to be lending it only grudging support.
We believe this to be a serious mistake. At the very moment when we have the opportunity to take the first small steps towards restoring investment trusts to a prominent place in wealth management, there seems to be a threat to pull the rug out.
Now is not the time to be reducing outlays on educating the investing public, quite the reverse. Now is the time for investment trust managers to be lining up to support the AITC and Daniel Godfrey in their initiative to rejuvenate investment trusts in the eyes of the public.
In fact, the campaign would likely be even more effective if it directed responsive and inquisitive investors to their IFA.
Make no mistake, this is a big opportunity. While it will take years rather than months to complete the education process, it would be a real waste if it were stillborn. IFAs are ready to carry out their role – all investment trust managers must do the same.
Charles Walker & Marcus Carlton
Columbus Financial Advisers
DBM Davies Financial Services
Chartwell Asset Management
Howland Financial Management
Matrix Financial Planning
Chamberlain de Broe
Newman Houghton & Co