Insights Wealth manager Q&A Sarasin’s head of charities Melanie Roberts on technological innovation, client suitability and striking the right balance between professionalism and authenticity in the workplace over fixed income as a hedge against uncertainty. There has also been a shift towards alternative investments over the past three decades to diversify and reduce risk in volatile markets. Q: What piece of regulation has had the biggest impact on your day-to-day role? Following the global financial crisis there has been a significant increase in regulation within wealth management. Client suitability is probably the most impactful regulation in my day-to-day role. As charities face increasing cost pressures, it is essential their investment strategies remain appropriate and adaptable. In order to focus on long-term strategy we provide a flexible suite of solutions and prioritise regular strategic reviews to reassess suitability and ensure alignment with individual objectives. Education is another critical area to ensure clients are best placed to ask the right questions and make investment decisions. Q: What single change would you make to the wealth management industry? I would simplify and standardise cost disclosures. There is still a lack of consistency in how costs are presented, especially when it comes to underlying fund charges and investment trust disclosures. This inconsistency creates confusion for investors, consultants and trustees who rely on transparent cost reporting to make informed decisions. Different managers using varying methodologies leads to discrepancies in total cost figures. Some disclose only the minimum required by regulation, while others strive for full transparency. Such disparity makes it difficult for investors to compare like-for-like costs and assess the true impact on returns. Q: What advice would you give to somebody starting out in the industry? Embrace every opportunity and say ‘yes’ to as much as possible. Develop strong technical skills, gain a solid grasp of financial principles, investment strategies and regulation. Keep up to date on market trends, economic factors and new financial products. Equally important is to bring your personality to work. Striking the right balance between professionalism and authenticity will help you build strong relationships. Staying curious, adaptable and client-focused will help you thrive. PA ‘ Bring your personality to work’ Q: What’s the biggest change you’ve seen in the industry since you joined? I joined the industry 30 years ago, and I’ve seen extensive change. One of the biggest is technological innovation – there was no email or internet when I first started working! The way we analyse, trade and consume information has altered markedly. Automation and digital platforms, plus the increasing use of big data and AI have revolutionised investment strategies and risk management, allowing for more personalised, faster portfolio management. Perhaps one of the most significant changes has been the greater focus on sustainability and impact. Charity clients have higher expectations of responsible and sustainable investing, and the demand for greater transparency around voting policies, practices and engagement has grown considerably. This is a demonstrable shift away from restricting one or two sectors on ethical grounds towards a fully embedded responsible and sustainable approach. Q: What is the investment topic most often brought up by clients/investors? Geopolitical events such as Brexit, trade wars and the rise of populism have introduced greater uncertainty into financial markets. There has been a growing focus on what a shift away from globalisation means for multinational companies, with highly integrated supply chains and how this should be factored into investment decisions. Clients are keen to understand how managers assess these risks when constructing portfolios, both in terms of long-term strategy and shorter-term tactical asset allocation. This has played out through a notable preference for owning gold 6 Portfolio Adviser March 2025 Melanie Roberts joined Sarasin & Partners in 2011 and was appointed head of charities in January 2023. She has over 25 years’ investment experience and is responsible for the management of charity and private client portfolios. www.portfolio-adviser.com
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