Consumer trust isn’t something to be taken for granted, but reports from the UK, US and here at home are all pointing towards an uplift in trust levels around financial advice, which can only be a welcome development.
There are significant tailwinds behind the financial advice industry at the moment, but some major obstacles are still preventing advice practices from taking advantage of surging demand according to a new study from CFS.
Getting to know Angela Ashton
This week we spoke with Angela Ashton, founder of Evergreen Consulting, who recently launched her Investment Research business.
Angela, can you tell us a little about yourself; what has been your favourite weekend activity in COVID-19 lockdown?
Watching Netflix, walking, and drinking rosé.
And your favourite holiday destination pre-COVID 19?
Too many – I love New York, but I also love the beach. I’m happy to spend weeks in either.
The first thing you will do post-COVID 19 lockdown?
A trip to visit family in Italy.
Do you prefer online shopping or bricks and mortar?
A bit of both. I like to try clothes on, though.
What are you most optimistic about as an Australian?
For Australia, the long-term ability for us to change our economy to a carbon-neutral one, with or without the help of our politicians.
Four dream dinner guests – historical or current?
One of my long-dead ancestors. My father was from Tuscany and our surname was allegedly given to us by the De Medicis. I would love to know more about my family from that time (and if there is any truth in that rumour).
Jesus. Believe in religion or not, he must have been an incredible person.
Jeff Bezos, but the Jeff Bezos of say, 25 years ago, when Amazon was still small – to understand how he thought about his business, how he saw opportunity, did he understand how big the company would become?
Donald Trump, because you’ve got to have some entertainment.
And let’s talk about your investment philosophy
Explain your personal investment approach?
Diversify, diversify, diversify. Be vigilant and flexible. Change your mind when the facts change but have the courage of your convictions. Understand that long-term performance is driven by the right SAA and good medium term DAA, which can sometimes look contrarian.
What is your preferred investment vehicle? Funds, stocks, exchange-traded funds, or managed accounts?
Horses for courses. It depends completely on the client and their objectives. We tailor everything.
What is the best investment decision/recommendation you have made?
Recently we made two good calls – moving clients out of high-risk credit in early March and then back in, in early April. We also recommended to clients that they hedge part of the international equity around 60c USD.
What is the worst investment decision/recommendation you have made? Â
They are all too common. Value has been a long-term call which has been tough at times.
Financial Armageddon: do you hold gold bullion, cryptocurrency or USD?
Gold.
What is your biggest concern for investors today?
I know this isn’t the right terminology, but I feel like we’re in a ‘corner’ solution – everything is predicated on interest rates remaining low forever.
Will President Trump be re-elected in 2020?
No.
You can only buy one Australian company for the next ten years –Â what is it and why?
Does it have to be listed? If not, Evergreen Consultants – the reasons should be self-evident. If it must be listed, probably CSL. It has proven its ability to innovate over the long term.
You can only buy one global company for the next ten years – what is it and why?
Microsoft – it’s so integral to our everyday lives.
