Last month, International Adviser, the leading website for IFAs who distribute international funds and life & banking products to high net worth individuals, published the Top 100 movers and shakers that have helped shape the financial services industry so far. This IA Top 100 outlines the key influencers who have made a difference and who are having a lasting effect.
“There have been some seismic changes within the industry in recent times but there are many long-standing influential figures across the world who have stood out from the crowd to make up the Top 100” stated International Adviser.
These influencers come from a diverse range of backgrounds and careers; leading financial advisers, heads of trade bodies, platform heads, specialist product and service providers, international life company CEOs and more. Many have impressive and extended track records.
Tom Tracy, CEO and founder of Forth Capital, features in the IA Top 100 list which was recently published online and in print format and distributed across the international financial services industry. Tom gathered two decades of experience in wealth management with large firms such as Bank of America, Royal Bank of Scotland and Standard Life before forming Forth Capital in Geneva in 2004.
Tom decided to build a company that would ensure excellent business practice – a high-brow UK style IFA for International clients. He wanted to build a team of high quality and properly qualified advisers and run a practise that would support its advisers by creating activity for them and setting up processes so that the client was put first.
The head office is still in Geneva, with financial advisers, administration and Forth Capital’s Private Client Services department. The ethos of Forth Capital is to have a small amount of high-quality people looking after their clients. There are now also offices in Sydney, Hong Kong, Dublin, New York and more recently the UK. Forth Capital now has over 1000 clients in 50 different countries, making it a truly global outfit.
One of Tom’s most recent areas of influence was in the creation of Forth Capital’s Next Generation Global Investment Strategies which were created in February 2016 by partnering with Morningstar, one of the largest investment research and stock analysis firms in the world.
The Next Generation Morningstar funds are passive investment instruments with a focus on low cost, long term performance and are available in four major currencies. Various blends of the growth and defensive funds have been made to create five risk-rated portfolios, ranging from cautious to adventurous; meaning there is a portfolio to match the risk profile of every client.
Challenges Facing the Industry
Citing one of the greatest challenges in the industry as being ‘eradicating high commissions and unsuitable investments’, Tom went on to say that ‘the recent Continental Wealth Management debacle shows that clients’ funds are still at risk from unscrupulous advisers.
Indeed, the IA Top 100 influencers identified a range of challenges facing the financial sector, including regulatory changes, advances in technology, new fintech products and the general public’s trust in the financial services industry following heavily reported cowboy firms offering poor advice and products.
The Top 100 captains of industry have cited a wide range of influencers in their lives, Tom’s being Jim Rogers after reading his book “Adventure Capitalist.”
‘I was inspired. I met Jim at his home in Singapore. Our friendship grew from there. Discussions spawned our Next Generation Investment Strategies and Jim coming over to Hong Kong to meet our clients. I’m proud to call Jim a friend and mentor.’
You can read about the IA Top 100 here
Forth Capital specialises in expat pensions and investments – to speak to one of our advisers click here or call +41 22 311 1441.