Size matters
In addition, across Canaccord’s investment teams, located in London, Guernsey, the Isle of Man and Jersey, there is a network of 10 CIOs who manage equities, fixed income, asset allocation and compliance.
But despite the firm’s arsenal of advisers, the nine-strong asset allocation team is a manageable size, he says. Manageability was one of the issues Perera came up against at JP Morgan’s discretionary business.
“We had 20-30 people around the table trying to make an investment decision and it became complicated and, dare I say, political.
“There is value in discussing ideas in the investment world but if you have too many people around the table, you dilute the quality of the ideas.”
The experience also convinced him that there is an ideal number of people to have around a table when you are discussing investments: an odd number, in the single digits, between five and nine.
Canaccord Genuity’s approach to relationship management is also something that distinguishes it from other larger outfits, according to Perera.
Client focused
Most firms approach meetings with clients by selling their brand, star individuals and boasting about performance metrics, instead of getting to know the client and identifying their particular needs, he argues.
“Whereas many firms talk about ‘me, me, me’, Canaccord talks about ‘you, you, you’. Suitability in our business is a very important. The Financial Conduct Authority says you need to know your client and establish the suitability of investments for clients, but a lot of firms take that very theoretically.
