Business News
Paul Smith Wins Top Prize
LRH Wealth Management is celebrating the success of trainee consultant
Paul Smith, who has beaten off the challenge of thousands of other competitors
to take a top prize in a national fund management contest.
Paul, who joined LRH Wealth Management in 2006 after working for six years as a stockbroker, was one of 6,500 financial advisers and investment managers to enter the competition, run by investment house JP Morgan, in which each entrant was given a “virtual” £100 million to invest between December 2007 and October 2008.
Paul, who has a Diploma in Financial Planning and is a member of the Securities & Investment Institute, adopted a cautious approach in building and developing his portfolio, in response to the troubled state of the world’s financial and investment markets.
He said: “I stayed cautious for about nine months, making very minimal changes, but became quite tactical towards the end and there was some frantic trading in the last few days!”
Paul’s approach, which led to his portfolio being ranked in the 100 best performers throughout most of the competition, gained him third place overall and a £5,000 prize when the final results were announced after the contest closed on 31 October.
Sue West, a director of LRH Wealth Management, said: "We are really proud of Paul and his achievement is very clear evidence that he knows how to play the markets. Whilst this was a 'fantasy' fund competition and does not reflect the real-life approach we adopt to investing a clients money, we are pleased to have Paul on the team as he is an expert in researching funds and building portfolios to suit each individual client's needs."
Paul is now planning to continue his professional development by gaining the Chartered Financial Planner qualification.
