Steve Davies | CEO & Founder, Javelin Wealth Management
- Steve is the Chief Executive Officer and Founder of Javelin Wealth Management.
- He is a commentator on CNBC, CNA and Bloomberg TV.
Podcast
Overview
Wealth management strategy refers to the comprehensive approach and set of tactics employed to effectively manage an individual’s or family’s wealth. It involves various aspects such as financial planning, investment management, risk management, tax planning, estate planning, and philanthropy.
In today’s episode, Steve Davies, an accomplished wealth manager, shares his insights on wealth management and the importance of aligning financial goals with life’s purpose.
[00:36] – About Steve Davies
- Steve is the Chief Executive Officer and Founder of Javelin Wealth Management.
- He is a commentator on CNBC, CNA and Bloomberg TV.
- His other interests include rowing, boating, scuba diving, water-skiing, hiking, travel and investing in startup businesses.
- Steve has recently finished a 950-kilometer walk across Spain.
[01:19] – Why do most wealth managers focus on only cash?
- The private banks have generally tended to focus on portfolios.
- The traditional portfolio includes a mix of different liquid asset classes. Those are the assets that they’re most comfortable advising on.
- But people invest in a much broader variety of things and in each case they tend to focus on getting specialist advice.
- Thus, you don’t go to your private banker for advice on building up an arts collection.
- Clients like to get the best advice for each relevant asset.
[02:20] – What is your philosophy when it comes to managing wealth?
- The core philosophy is to keep it simple.
- As an investor, I found it difficult to get the type and quality of advice that I was looking for.
- I always like to know the terms under which I was investing and if you can’t work out how much you’re being charged or how the portfolio is being managed or how your advisor is being remunerated, that is a bad position to be in.
- Generally, a lot of complexity is built into investment products as a means of effectively hiding extra costs.
[21:36] – What are the three lessons you want our viewers and listeners to take away?
- The earlier you start, the better it is because then you benefit from compound interests.
- Don’t get distracted by the noise. Don’t bother listening to people on Bloomberg or CNBC when times are getting volatile.
- Examine your individual portfolios to make sound decisions.
- Last is to always keep a bit of money in reserve.
RESOURCES:
You can connect with Steve Davies: LinkedIn
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Profile
- Steve is the Chief Executive Officer and Founder of Javelin Wealth Management.
- He is a commentator on CNBC, CNA and Bloomberg TV.
- His other interests include rowing, boating, scuba diving, water-skiing, hiking, travel and investing in startup businesses.
- Steve has recently finished a 950-kilometer walk across Spain.
- Simon is a five-star Amazon author.
