The PAM 50 Most Influential is an annual list of those at the forefront of shaping private client wealth management in the UK and Crown Dependencies.

Today we hear from 2021 constituent Colin McInnes, managing partner at Quartet Investment Managers.

Mr McInnes is one of the founders of the PAM Award-winning Quartet – an independent multi-asset investment manager based in London.

Mr McInnes is an outspoken and thoughtful critic of the wealth management sector and the ways in which it could improve its offering for clients. He founded Quartet after becoming disillusioned with the model at previous employers.

What team or personal achievement over the past year are you most proud of?

That the team were able to function relatively normally through lockdown and working from home. We also managed to hire two senior people, who have yet to physically meet people in their respective teams, which has been peculiar.

Last year was also our strongest in terms of new business. All this against a background of very tricky markets has been a great achievement by the team who have really knuckled down, worked hard and delivered.

 

What piece of advice would you give your younger self?

Do not get despondent during market corrections, whilst unpleasant they are normal and just keep communicating with your clients. Seems a long time ago but the Asia Financial Crisis of 1997, Russian default of 1998, Tech bubble of 2000, GFC in 2008 were pretty terrible to live through. The sun did however still rise the following day.

On a lighter note, I should have tried to do the Marathon des Sables. By the time I wanted to, my hip had succumbed to arthritis.

 

What do you find most rewarding about your role?

Primarily dealing with people, be they the Quartet team, clients or financial intermediaries. Meeting and dealing with people stimulates me and makes work fun and interesting.

Other than that it is having a very varied job, outside of client work, I help manage some portfolios, do some research and run the business. Being pigeon-holed into just doing the same thing day in day out would drive me crazy.

 

What most excites or interests you about the wealth management industry right now?

That it is a fast-paced and evolving industry. In the space of ten years we have seen the majority of firms shift from service solution businesses to product provision with many also embracing vertical integration across investment management and financial planning. Plenty of opportunity for different models to succeed.

I expect the evolving use of technology will continue to change our industry and how we do things over the coming years.

 

If you couldn’t work in wealth management/private banking, what other career appeals?

I always wanted to be a primary school teacher and this has been reinforced by helping out with home schooling during lockdown, absolutely loved it. My younger self probably wanted to be a ski instructor or professional cricket.

 

What luxury item would you want with you on a desert island?

With a luxury practical item, it would be a portable desalinisation plant otherwise it would have to be a DAB radio with plenty of batteries – Chris Evans on Virgin in the morning and Test Match Special when a game is on would probably keep me sane and distract me whilst sun tanning. Oh, also a towel, I hate lying on beach sand.

 

What’s a valued hobby or interest outside work and how did you get into it?

Online chess. Played all my life and I love the mental stimulation. Probably taught by my father but he stopped playing me when I got to primary school and I could beat him.

Otherwise, I am a keen road cyclist (or MAMIL) and the bug bit when I had to give up marathon running a few years ago. Fingers crossed I get to do a BikingMan event later this year, cycling over 1,000 kilometres unsupported in 120 hours, which is a challenge I am aiming for.

 

What’s a cheesy pop song that you love?

 The list is endless: anything by Curiosity Killed the Cat, Fleetwood Mac, A-ha and Deacon Blue to name but a few. Members of the team regularly get subjected to my taste in 80’s pop music! They will get converted, eventually…