Advisory and investment firm Sayers, today announces the launch of its independent and full-service wealth advisory business, Sayers Wealth, aimed at Australian high net worth families and for purpose organisations.
It is the first offering by the Sayers Group, a business purpose-built for the new economy to ‘do better things’, creating a valuable intersection for collaboration between individuals, business, government and the community.
Neville Azzopardi has been appointed as CEO of Sayers Wealth, and leads a highly credentialed team that bring expertise from across wealth and business advisory.
“There is a tremendous opportunity to do things differently to the ‘status quo’ approach to wealth management in the Australian market,” he said.
“When designing the Sayers Wealth offering, we looked first at what wealth management clients were seeking and second, we asked ourselves is there a better way to support their wealth creation?”
“Typically, we see wealth management businesses with strengths in specific niches, be that investment, credit, financial planning or stock broking. We start with the client, and then build the service around the client, through the provision of internal expertise and partnerships with external specialists.”
This new offering goes beyond the traditional investment management approach by creating an ecosystem of specialist advice, technology and support tailored to each individual client.
Chief Investment Officer, James Wright, says Sayers has also taken a different approach to investing: “With interest rates near zero, it is becoming increasingly difficult to blindly allocate across asset classes. We are adopting an approach long used by the institutional markets, by identifying and allocating across different risk types, rather than just asset classes.”
Sayers will also be more active in the private deals investing space.
“Clients expect to be able to diversify beyond liquid markets. Having often created their own wealth through their family business, they align with more entrepreneurial firms and understand the potential for value creation in private enterprise,” Mr Wright noted.
Wealth management for high net worth families extends beyond just managing financial capital. How the family organises itself is critical in determining its success over multiple generations.
“Whilst investing has been the mainstay of the wealth industry, increasingly clients are engaging with purpose, and how they apply financial capital in their business, their family and the community” said Mr Azzopardi.
Most families with significant wealth in Australia are first and second generations. With an unprecedented intergenerational wealth transfer about to occur, Sayers Wealth will partner with families to navigate the complexities of succession, the relationship of family businesses with the family, and create a family legacy and philanthropic purpose. Sayers Wealth understands the next generation will engage with their wealth in a very different way and is focused on building the technology and infrastructure to cater to these changing needs.
Sayers Wealth will provide access to business and corporate advisory for entrepreneurs and family enterprises, delivering strategic advice to grow and realise value.
“By bringing business advisory into the equation, clients can feel comfortable that we are catering to the needs of their entire balance sheet, much of which is often held in their private enterprise. We are taking a holistic approach to meeting their needs,” said Mr Azzopardi.
Private markets and global investments
With the ultra-low interest rate environment, Australian investors are increasingly looking more to global and private markets for different sources of returns, uncorrelated and potentially higher than those in our domestic and public markets. Sayers clients will have a choice of domestic investment platforms and multiple private banks from across the globe to access a wide array of private and global asset solutions.
Sayers’ in-house investment team will leverage global and local strategic partners, and provide clients with independent and tailored advice, familiar in boutiques, while offering the scale and sophistication of our global private banking partners.
Sayers Wealth will also work with for purpose organisations and private investors on risk management strategies for their investments to emulate the investing models of larger global family offices, sovereign funds and US university endowments that have sought ways to address the limitations of traditional 60/40 portfolios.
“For purpose organisations in particular are demanding more rigour in allocating their capital, and importantly, quantifying the risk in their portfolio,” Mr Azzopardi said. “Sayers has adopted a risk management framework designed with not for profit organisation (NFPs) in mind to address these needs and those of private investors who are also deserving of the same institutional disciplines.”
Sayers is seeing an increasing number of families and for purpose organisations taking a socially responsible approach to investing. With a defining emphasis on ‘for purpose’ wealth that seeks to have a positive impact, Sayers Wealth will design and manage ‘for purpose’ philanthropic and social impact strategies, with clients having access to the insights of thought leaders in this field and investment solutions that focus on delivering both financial and social goals.