If you ask Mohsin Bukhari, investment director at Carrington Wealth Management, what the secret to his company’s rapid growth is, it’s a combination of good decision-making, keeping things in-house, and treating clients like family. will answer according to. . Mr Buhari and his team at Carrington have grown to £400m in assets under management, sticking to what they do best: bespoke, relationship-led wealth management.
“We do not collaborate or integrate with IFA. Our growth is completely organic,” Buhari (pictured above) explained.
The numbers tell a powerful story. Carrington added around £100m and 25-30 customers to its book last year alone, with average assets per customer of around £1m.
“We are known in our industry and often attract clients from other companies in our industry,” Buhari said, adding that Carrington has doubled its team of advisors to four and now has a strong team. He outlined the fact that culture has a huge influence on Carrington. 15 people work in the office. Our two new advisors joined the firm nine years ago as new graduates and have worked hard to become trusted advisors.
“Our employees and customers are sticky,” he laughed. “Whether you’ve been here a month or 14 years, everyone is treated the same. We’ve built a great culture and everyone is in the office five days a week. We are close and collaboration is natural.”
Buhari’s investment approach is notable for its avoidance of outsourcing to third-party managed portfolio services.
“Customers have direct access to investment decision makers, which is a powerful tool,” he said.
With just two members on his investment team, he is proud to say that he was able to outperform industry leaders with investment teams of up to 50 people.
“It’s just me and Lucas,” he joked. “With the two of us at the helm, I think being small and nimble will be a huge advantage.”
Mr. Carrington’s ethos extends beyond investing. Buhari’s top priorities are life planning and cash flow modeling, not market movements.
“It’s a mistake to go into a meeting emphasizing the market and only focusing on the investment side of things,” he explained. “This plan-first approach helps put clients at ease. Once we have that foundation, we then talk about investing.”
Perhaps the most unique aspect of the Carrington-client relationship is their annual publication, “The Club.” Filled with stories, profiles, and insights, this book is as much a magazine as it is a glimpse into the Carrington family. “We are eccentric,” Buhari admitted. “And The Club has allowed us to connect with our clients in a unique way.”
In a world where consolidation is rampant, don’t expect Carrington to be sold to the highest bidder anytime soon.
“We will never be acquired by a private equity-backed integrated company,” he insisted. “Their goal is profit, often at the expense of their clients, and that’s not our intention.”
In addition to this, he talks about his bold stance on bonds, which includes a “throw-the-textbook-out-the-window approach”.
He said 2022 will be a wake-up call for many people. Giltz, a central figure in many portfolios, has “disappeared” in what he sees as ushering in a new era.
“We believe yields will rise significantly over the next few years. I wouldn’t be surprised if we don’t own bonds in the future,” he said, pointing to the move to hedge funds as a potentially good diversifier.
