2018 marks ten years since LGT Vestra was founded. When setting up in 2008, their aim was to ‘challenge convention in the industry by offering a fresh approach to wealth management through the simple provision of providing a truly transparent service, designed around what is right for the client’s needs’.
As well as managing the wealth of private clients, trustees and charities, over the past decade, LGT Vestra has established itself as a dominant force in the IFA – DFM market. Their core services to IFA’s largely consist of bespoke investment management and running a successful MPS range.
It has been a remarkable ten years for LGT Vestra, with assets under management of over £11.5 billion and recently winning ‘Best Large firm’ in the Citywire Investment Performance Awards for strongest and most consistent performance across the range of portfolios. In addition to winning ‘Best Large firm’, LGT Vestra was also awarded ‘Best Cautious Strategy’ and nominated for a further two awards. A momentous achievement for the firm and well-deserved recognition for the success the investment team have had in what has been difficult markets to navigate over recent years.
As an unknown newcomer into the market place, LGT Vestra’s adviser proposition has been built on an extremely high level of personalised service. The goal was not to engage with every IFA firm in the UK, but instead to establish deep and unique relationships with a smaller number of high quality IFA firms. In doing this, LGT Vestra has become a core element of central investment propositions for IFA firms that value this high service level at an extremely competitive cost.
As a dynamic, entrepreneurial firm, LGT Vestra also benefits from the financial strength and history of LGT, the parent company. LGT takes a very long-term perspective, and in their own words describe their attitude to capital creation and preservation as multi-generational rather than multi-cycle.
To celebrate LGT Vestra’s 10 year anniversary, the company has created a commemorative essay on the theme of ‘belonging’, working with renowned author and philosopher Robert Rowland Smith. LGT Vestra believes that our clients, advisers employees and stakeholders share this sentiment and feel they belong to the LGT Vestra ‘family’.
The essay provides a brief history of the firm and explores the idea of belonging from a philosophical point of view and in the context of Vestra. Robert conducted interviews with some of the stakeholders; some members of staff, David Scott, the chairman and founder, Ben Snee (CEO), Prince Max, a few of the firm’s first clients and intermediaries, to weave their stories into the philosophical and psychological elements of belonging. The essay is a kind of birthday present from LGT Vestra to the people in its orbit, for them to both understand how then became now, and to reflect on what belonging means today in our complex world.
David Scott opens the essay by thanking ‘all of our clients and intermediaries who have supported us from the beginning, back in 2008 when the financial world was falling apart. Without our clients we would not be where we are today, and as a firm, we will never lose sight of that. We will continue to uphold the very highest levels of service to our clients, underpinned by our belief in the power of belonging.’ He continues by commenting that ‘clients like the spirit of the firm; they like the story; they are entrepreneurs or business owners too, so that’s a big selling point’. The essay describes the foundation of LGT Vestra and its growth as a successful investment management firm, ‘David saw that the firm needed to be different because the broader industry had lost the trust of clients in a number of ways. He determined that the firm would be more honest and transparent with clients.’
You can read the essay in full here.