Explore every episode of the podcast Money Wise UK®

Nick Train has spent more than 40 years in investment management. In this wide-ranging conversation, he reflects on what four decades in markets have taught him about patience, conviction, valuation and the importance of owning great businesses for the long term.

We explore active versus passive investing, why Nick believes more people should own equities, and why concentrated portfolios require both conviction and humility.

Nick also discusses the opportunities he sees within the UK stock market, including businesses such as Experian, Rightmove and RELX, and why artificial intelligence may strengthen some established digital businesses rather than simply disrupt them.

We talk about Diageo, difficult periods of performance, Warren Buffett’s influence on Nick’s investment philosophy, and perhaps one of the hardest questions in investing: how do you know when patience is still the right response and when the evidence is telling you that you are wrong?

We also explore the advantages of investment trusts as Finsbury Growth & Income Trust celebrates its 100th anniversary.

A thoughtful and unusually open conversation about investing, experience, mistakes, patience and the value of a handful of really big ideas.

Books mentioned

One Up On Wall Street: How to Use What You Already Know to Make Money in the Market — Peter Lynch with John Rothchild

Investing Against the Tide: Lessons from a Life Running Money — Anthony Bolton

Stocks for the Long Run — Jeremy J. Siegel
Important information

This podcast is for information and educational purposes only. Nothing discussed should be considered personal financial advice or a recommendation to buy, sell or hold any investment. Investments can fall as well as rise in value, and you may get back less than you invest. The views expressed are those of the individuals taking part at the time of recording.

About Money Wise UK

Money Wise UK shares independent thoughts, research, fund manager conversations and practical insights from across financial planning and investment management.

If you enjoyed this conversation, please follow the Money Wise UK podcast and share the episode with someone who might find it interesting.

You can find more podcasts, investment research and insights at Money Wise UK.

The debate between active and passive investing is often presented as a simple choice. But does that binary argument distract advisers from the questions that really matter?

In this episode of the Money Wise UK Podcast, George Ladds is joined by Ash Weston, Head of Model Portfolio Services at 8AM Global, to explore how investment portfolios can be designed to behave consistently, support a financial plan and deliver outcomes clients can understand.

George and Ash discuss the limitations of relying on past performance, the SPIVA research, active-manager selection and why even choosing a passive strategy is an active decision. They also explore how systematic investment processes can help control human bias, identify when an investment is no longer behaving as expected and reduce the temptation to chase recent winners.

The conversation covers:

• Active versus passive investing and why there may be no single right answer
• What SPIVA does—and does not—tell us about active fund management
• Why recent investment performance can be a dangerous basis for selection
• What a “well-behaved” investment portfolio should look like
• Systematic investing with human oversight
• Investment manager due diligence and evidencing value
• Risk profiling and genuine client understanding
• The role of model portfolio services within financial planning
• How AI and better data could change financial advice and investment management
• Why investment decisions should begin with the person and the financial plan—not the product

This is a wide-ranging and thought-provoking conversation for financial advisers, planners, investment professionals and anyone interested in portfolio construction, behavioural investing, MPS due diligence and the future of financial advice.

The central message is simple: the label attached to an investment approach matters less than whether the process is clear, repeatable, adaptable and capable of supporting better client outcomes.

Important information

This podcast is provided for general information and educational purposes only. It does not constitute financial, investment, legal or tax advice, or a personal recommendation to invest.

The views expressed are those of the individual speakers at the time of recording and may change. References to particular investment approaches, funds, model portfolios or providers should not be treated as an endorsement or recommendation.

The value of investments, and the income from them, can fall as well as rise, and investors may get back less than they originally invested. Past performance is not a reliable guide to future returns.

Any investment decision should take account of an individual’s objectives, financial circumstances, attitude to risk, capacity for loss and investment time horizon. Where appropriate, seek advice from a suitably qualified and regulated financial adviser.

Money Wise UK does not provide regulated financial advice.

In this episode of the Money Wise UK Podcast, George Ladds is joined by Andrew Spence, CEO and Founder of Aspen Advisers.

Andrew’s route into financial services was not a traditional one. After studying marine engineering, he moved into investment management just before the Global Financial Crisis. That experience shaped much of his thinking around portfolio construction, risk, client behaviour and the importance of building solutions from first principles.

George and Andrew discuss the evolution of Aspen, why innovation in financial services needs to be built around clients rather than assets under management, and how AI could change the way financial planning firms operate over the next few years.

The conversation then turns to risk profiling, where Andrew challenges whether the current system really helps advisers deliver better outcomes. They explore the limitations of questionnaires, the danger of relying too heavily on a single risk score, and why retirement planning may need a very different conversation around risk, objectives, time horizons, sequencing risk and income sustainability.

The second half of the episode focuses on retirement planning. George and Andrew discuss why many firms still struggle to build effective retirement propositions, the debate between natural income and selling down capital, and why simple, repeatable and client-friendly solutions matter. Andrew also explains why he believes the bucketing approach can help clients understand where their income is coming from and give them greater confidence during difficult markets.

Ultimately, this episode is about more than investment portfolios. It is about helping people retire with confidence, reduce worry, and build a retirement plan that reflects the life they want to live.

Risk Warning

This podcast is for information and discussion purposes only and does not constitute financial advice, investment advice or a personal recommendation. The value of investments can fall as well as rise and you may get back less than you invest. Retirement income is not guaranteed and will depend on individual circumstances, investment performance, tax rules and future market conditions. Tax treatment depends on personal circumstances and may change in the future. You should seek regulated financial advice before making decisions about your pension, investments or retirement planning.

Retirement is changing.

People are living longer, defined benefit pensions are becoming less common, and more responsibility is shifting to individuals to create sustainable retirement incomes.

In this episode of the Money Wise UK Podcast, I am joined by Emma Mogford, Portfolio Manager at Premier Miton Investors, to explore what retirement may look like over the next 10–20 years.

We discuss:

• Why retirement should still be viewed as something positive to look forward to
• The challenges of inflation and longevity in retirement planning
• Why retirement risk is different from accumulation risk
• The growing importance of behavioural coaching and financial advice
• How retirement income strategies are evolving
• Natural income versus selling units in retirement
• Sequencing risk and why timing matters when drawing an income
• The role of technology, AI and targeted support in closing the advice gap
• How demographics, inflation and changing economic trends may shape future retirement outcomes

Throughout the conversation, Emma shares her thoughts on why confidence, flexibility and sustainability may become just as important as investment returns when planning for retirement.

Whether you are approaching retirement, already retired, or work within financial planning, this episode offers valuable insights into one of the biggest shifts facing investors today.

The information discussed in this podcast is for educational purposes only and should not be considered personal financial advice.

In this episode, George Ladds is joined by Gervais Williams, veteran fund manager, author, and long-standing advocate for UK equities. Gervais shares his journey from engineering into investment management and reflects on over three decades of navigating market cycles.

We discuss:

• Why today’s markets differ from past cycles – and the risks of assuming “buy the dip” always works

• The retreat of globalisation, the rise of nationalism, and what this means for investors

• Why equity income and cash-generative businesses could define the next 20 years

• The overlooked potential of UK small and micro-caps (including AIM)

• How active management can help avoid “zombie companies” and uncover future winners

Gervais also reflects on conviction, resilience, and why diversification across industries and company sizes is critical in a more uncertain world.

👉 A thoughtful and candid conversation on building resilient portfolios and rediscovering opportunities in the UK market.

Book: The Retreat of Globalisation

Premier Miton

Disclaimer: This conversation is for information only and isn’t investment advice. Past performance is not a guide to future returns. Investing involves risk, including loss of capital.

In this episode, George Ladds sits down with Benji Dawes, co-manager of the Premier Miton UK Growth Fund, to explore why UK equities, particularly small and mid-caps, may offer one of the most compelling opportunities for long-term investors.

Benji shares his unique journey from studying anthropology to becoming a fund manager, explains the fund’s three investment pillars —quality, valuation, and growth —and discusses how his holistic perspective helps him assess businesses in context.

We dive into:

• Why UK companies remain undervalued despite strong fundamentals

• The importance of understanding management teams and incentives

• How small & mid-caps can generate alpha over time

• Real examples from holdings such as Cranswick, Wise, and M&S

• What makes London a hub for AI and fintech innovation

Benji also reflects on the importance of process, partnership, and keeping an open mind as an investor.

👉 Tune in for an honest, insightful look at UK equities and where opportunities lie today.

Book: The Opposable Mind - Roger L Martin

Disclaimer: This conversation is for information only and isn’t investment advice. Past performance is not a guide to future returns. Investing involves risk, including loss of capital.

In this episode of the Money Wise UK Podcast, host George Ladds speaks with Matthew Spencer of Orbis Investments — one of the most distinctive voices in the world of multi-asset investing.

Matthew shares his journey from aspiring sports coach in South Africa to becoming part of Orbis’ global investment team, reflecting on early mentors, work ethic, and the lessons learned along the way.

Together, they explore:

• The people and books that shaped Matthew’s approach to investing

• Coaching the Bermuda National Hockey Team — and what it taught him about leadership

• The origins of Orbis Investments and its founder Allan Gray’s philosophy

• Why Orbis uses a performance-based fee model — and how it aligns incentives with clients

• Active vs. Passive investing: why both have a place, but concentration risk matters

• The real story behind Orbis’ exposure to gold and how they manage “competition for capital”

• How Orbis maintains culture, discipline, and accountability through its “investment academy”

• The power of compounding, and why the industry needs to talk more about the benefits of investing, not just the risks

It’s an honest and energising discussion about investment philosophy, culture, and long-term thinking — reminding us that success is deliberate, alignment matters, and patient capital still has a place in a fast-changing world.

Listen now to hear how Orbis is doing things differently — and what investors and advisers can learn from its approach to purpose-driven active management.

Disclaimer: This conversation is for information only and isn’t investment advice. Past performance is not a guide to future returns. Investing involves risk, including loss of capital.

How far should you diversify before you dilute returns? In this episode, George sits down with Damian Bird, Portfolio Manager for Polen Capital’s Emerging Markets Growth strategy, to challenge conventional wisdom on diversification, active vs. passive in EM, and where the most exciting compounding businesses live today.

Damian revisits the classic Evans & Archer (1968) research on portfolio size, explains why 15–20 names can cap volatility—and why professional portfolios still settle around 30–35 due to real-world correlations. We dig into why emerging markets today host several of the world’s best businesses (think semis, EVs, fintech, and the AI supply chain), why index exposure often buys you the “average EM company,” and why selective, quality-biased active may make more sense right now.

We also cover governance nuances country by country, when Polen’s “sleep-easier” approach can underperform (speculative manias), and why allocations anchored at 70% US / 5% EM might be ripe for a rethink.

You’ll learn:

• The point where diversification becomes over-diversification

• Why EM stock quality dispersion makes active selection powerful

• How valuation, currency, and earnings growth set up EM’s risk/reward today

• Practical governance red flags (SOEs, chaebols, related-party risks)

• Polen’s four pillars: best businesses, concentrated, long-term, willing to be different

Chapters

• 00:03 Intro & why diversification needs a rethink

• 03:07 Humility in investing: the “do nothing” lesson from 2008–09

• 06:17 Low turnover and making only meaningful changes

• 09:43 How many stocks do you need? (Evans & Archer; EM reality)

• 13:06 Correlations & why ~30–35 holdings often hit the sweet spot

• 16:03 Why not just buy the index? Active vs. passive in EM

• 19:25 EM vs. developed markets: where the great businesses are now

• 23:06 Case studies: semis, EVs, e-commerce, fintech, AI supply chain

• 26:36 Valuations, policy, and the EM macro setup

• 30:09 Earnings growth vs. multiple compression: what it means for returns

• 33:42 Governance & minority protection: what to avoid (and why)

• 36:45 Dividends, buybacks, and improving EM corporate behaviour

• 40:07 Rethinking the US-heavy global allocation

• 43:42 Early signs: EM momentum and flows

• 47:15 Damian’s path (and why he loves EM)

• 50:13 On-the-ground change: Singapore, India, Poland, Vietnam

• 53:33 When Polen underperforms (and why)

• 56:37 Team, Somerset Capital transition & one-fund focus

• 59:42 Book pick: The Outsiders (capital allocation)

• 1:03:05 One-minute pitch: why EM now

• 1:06:20 Wrap-up

Guest: Damian Bird, Portfolio Manager, Polen Capital — Emerging Markets Growth
Host: George Ladds, Money Wise UK®

Links mentioned:

• Polen Capital (EM Growth)

• Book: The Outsiders — William N. Thorndike

If this episode helped you rethink diversification or EM allocations, follow, rate, and share the show.

Disclaimer: This conversation is for information only and isn’t investment advice. Past performance is not a guide to future returns. Investing involves risk, including loss of capital.

In this episode of the MoneyWise UK Podcast, host George Ladds is joined by Ceri Hill, Head of Decumulation at Brooks Macdonald, for an in-depth discussion on the changing face of retirement.

Retirement has shifted from the world of guaranteed defined benefit pensions to one where individuals must manage defined contribution pots, creating new challenges for both clients and financial planners. Ceri explains why planning for sustainable retirement income is more complex than ever and highlights the key risks people face once they stop working—longevity, inflation, and sequencing risk.

The conversation explores:

• How to define “enough” for retirement and why income needs must come before portfolio size.

• The growing importance of cash flow modelling, its benefits, and its limitations.

• The shared responsibility between clients and advisers in building accurate retirement plans.

• The pros and cons of the three main income approaches: selling down units, natural income, and annuities.

• Why the bucketing strategy—segregating investments by time horizon—can help manage risk and provide reassurance during market downturns.

• The emotional as well as financial dimensions of retirement, and the importance of strategies that promote better behavioural outcomes.

Ceri also shares insights into Brooks Macdonald’s recently launched retirement solutions, built on a multi-bucket approach designed to balance flexibility, income security, and long-term growth. He emphasises the opportunity for advisers in the decumulation space, the need for providers to support planners beyond just product delivery, and the importance of innovation as retirement needs continue to evolve.

Whether you are an adviser, investor, or someone planning for your own retirement, this episode offers clear insights into the risks, strategies, and innovations shaping retirement today.

Follow, share, comment, rate and subscribe to Money Wise UK for thoughtful, independent conversations on the future of investing.

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

Is natural income outdated, risky… or the missing link in sustainable retirement planning?
In this episode of Money Wise UK, George welcomes back David Jane of Premier Miton to revisit one of our most debated topics: natural income. Together, they unpack whether it still has a role in modern portfolios, how it compares to total return strategies, and why client psychology plays such a big part in income decisions.

From sequencing risk to safe withdrawal rates, and from dividends to bonds, David shares 38 years of experience in investment management—along with practical insights on building retirement income strategies that balance growth, resilience, and peace of mind.

If you’re a financial adviser, investor, or simply curious about the future of retirement income, this conversation will challenge assumptions and offer a fresh perspective.

Book: The Misbehavior of Markets: A Fractal View of Financial Turbulence

Follow, share, comment, rate and subscribe to Money Wise UK for thoughtful, independent conversations on the future of investing.

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

George, Money Wise UK, chats with Pietro Nicholls, co-manager of the VT RM Alternative Income Fund, about what “alternatives” really are, liquidity myths, the rate/inflation cycle, and why governance matters in investment trusts. They cover diversification, where real assets fit vs the 60/40, activism vs engagement (incl. Gore Street), and how VT RM balances income with capital preservation.

Follow, share, comment, rate and subscribe to Money Wise UK for thoughtful, independent conversations on the future of investing.

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

Chapter markers

• 00:03 Intro & guest background

• 01:13 Early influences & learning habits

• 09:12 What are “alternatives”?

• 12:19 Liquidity myths & real-world tests

• 15:49 Diversification through cycles

• 19:35 Rates, inflation & positioning

• 23:28 Investment trusts: safety, governance & discounts

• 27:36 Fees & the OCF confusion

• 31:20 Performance, cycles & today’s opportunity

• 33:17 Are alts too complex?

• 36:08 Engagement vs “activism” (Gore Street)

• 42:28 VTRM’s mission & portfolio mix

• 49:06 ESG & transparency

• 54:45 Best advice & final takeaway

China is often seen as either an unstoppable superpower or a risky bet – but what’s the real story? In this episode of the Money Wise UK Podcast, George sits down with Megan Ie, Senior Equity Analyst at GIB Asset Management, to unpack the nuances of investing in China. From common prosperity to geopolitical tensions, policy shifts, and overlooked growth opportunities, Megan brings fresh insights into one of the most complex and misunderstood markets in the world. A must-listen for curious investors.

Book: Bacharuddin Jusuf Habibie

Follow, share, comment, rate and subscribe to Money Wise UK for thoughtful, independent conversations on the future of investing.

Learn more: GIB Asset Management

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

In this insightful episode of the Money Wise UK Podcast, George Ladds is joined by Kunal Desai, co-fund manager of the Emerging Markets Active Engagement Strategy at GIB Asset Management. They cut through the noise to discuss why emerging markets deserve more attention in today’s globalportfolios. From political risk to valuation opportunities, from sustainable investing to bespoke engagement strategies — this episode is packed with practical insights, real examples, and powerful ideas.

Key themes include:

• Why emerging markets remain underrepresented in global portfolios despite driving global GDP growth
• How GIB’s “PACE” framework identifies hidden value through active engagement
• The case for blending passive and active strategies in emerging markets
• A candid discussion on corruption, fragility, and the misunderstood risk of concentrated investing

Follow, share, comment, rate and subscribe to Money Wise UK for thoughtful, independent conversations on the future of investing.

Books:

Michael J Mauboussin – Expectations Investing

Ayn Rand – Atlas Shrugged

Learn more: GIB Asset Management

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to afinancial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

In this episode of the Money Wise UK Podcast, George is joined by Ben Palmer, Senior Portfolio Manager at LGT and former Head of Responsible Investment at Brooks Macdonald, for a wide-ranging and honest conversation about sustainable investing.

From the evolution of ethical investing to today's ESG, impact, and transition strategies, Ben explains the terminology, challenges, and real-world investment opportunities with clarity and balance.

We go beyond the headlines—exploring whether “woke is broke” is true, why investment trusts might still play a role in ESG portfolios, and whether governments, investors, or individuals are the real agents of change. We also dig into controversial topics like COP30’s rainforest conundrum, Trump’s “drill baby drill” energy stance, and whether EVs and renewables can truly make a difference.

Ben offers insight into how sustainability and economics increasingly go hand in hand—and why acknowledging imperfections matters more than chasing perfection.

💬 Topics Include:

• What ESG, impact, and sustainable investing really mean

• The FCA’s new fund labelling system

• Investment trusts and sustainability

• Climate science vs. political noise

• Can investment really drive global change?

🔗 Plus, learn more about LGT’s approach to responsible investing and why long-term thinking is core to their DNA.

Follow, share, comment, rate and subscribe to Money Wise UKfor thoughtful, independent conversations on the future of investing.

Learn more: https://www.lgtwm.com/uk-en

Please note: This podcast does not provide financial advice.If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Anymention of a company is not a recommendation.

Can fixed income be both sustainable and high performing? Or is it just another corner of the market vulnerable to greenwashing?

In this eye-opening episode of the Money Wise UK podcast, host George is joined by Samantha Lamb, Head of Fixed Income at GIB Asset Management, to break down what sustainability really means in the world of bonds — and why it’s time to challenge some long-held assumptions.

Drawing on decades of experience in ESG and credit markets, Samantha reveals:

• Why GIB doesn’t rely on bond labels like “green” or“sustainable” — and why these can mislead investors
• The difference between ESG risk management and truly sustainable investing
• How fixed income can deliver strong risk-adjusted returns without compromising values
• The power of a multi-thematic framework in building resilient portfolios for real-world problems
• Why certain sectors, like fossil fuels and tobacco, are ruled out — regardless of their ESG scores
• How to balance performance with purpose in a volatile and fast-evolving landscape

Whether you're a fund selector, financial planner, or simply curious about the future of sustainable investing, this episode offers clarity, insight, and real-world thinking that cuts through the jargon.

"There’s no performance penalty for investing responsibly — not if you do it right." — Samantha Lamb

Follow, share, comment, rate and subscribe to Money Wise UK for thoughtful, independent conversations on the future of investing.

Learn more at www.gibam.com

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

#SustainableInvesting #FixedIncome #GreenBonds #ESG #ImpactInvesting#InvestmentPodcast #MoneyWiseUK

In this insightful episode from Money Wise UK, host George is joined by Lawrence Cook, CEO of Mabel Insights, to unpack how retirement planning is evolving — and why it’s more important (and complex) than ever before.

What to Expect:

• Why the traditional view of retirement is outdated

• The emotional and financial challenges of today’s retirement landscape

• The importance of cashflow modelling (and why many advisers still aren’t using it)

• How to manage conflicts around drawdown vs. annuities

• The value of a Withdrawal Policy Statement in giving clients clarity and control

• FCA's Thematic Review and why it’s an opportunity, not a threat

• Lawrence’s take on the natural income debate — and why "bonkers" might sum it up! That's natural income, not his take!

• How better technology and planning tools (like Mabel) are reshaping adviser-client conversations

🎧 Whether you're a financial planner or someone thinking about retirement, this episode is packed with real-world stories, practical insights, and future-focused thinking.

Listen now to discover how to turn uncertainty into confidence — and why having a plan is the real power move.

🔗 Learn more: mabelinsights.com

Money Wise UK Centralised Retirement Proposition templates for financial planning firms.

Resources: Abraham Okusanya, Beyond The 4% Rule: The science of retirement portfolios that last a lifetime

Behavior Gap

Retirement Researcher Basecamp

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Please note that this podcast does not provide financial advice. If you have any questions, we recommend consulting a financial advisor. Past performance does not guarantee future returns; investments can fluctuate in value. Any mention of a company is not a recommendation.

In this episode of the MoneyWise UK & QuantQual Podcast, George sits down with Keith Balmer from Columbia Threadneedle to explore why the debate between active and passive investing might be missing the point.

Keith shares his career journey — from hedge funds at Man Group to launching a low-cost multi-asset franchise at Columbia Threadneedle — and explains why it’s not about choosing sides but blending investment styles for better client outcomes.

They cover:

• Why passive isn’t always the winner — and how 94% of top managers beat the MSCI World Index over rolling five years

• The three sources of added value in Columbia Threadneedle’s Universal Range: strategic asset allocation, stock selection, and tactical moves

• How the franchise keeps fees at 0.29% while delivering institutional-grade returns

• The real-world case for sustainable investing and why a long-term view matters

• Why consumer duty supports blending investment styles — not chasing the "best fund"

If you’re looking to rethink how you deliver returns, manage risk, and build long-term value, this one’s for you.

Enjoyed this episode?

Follow the podcast to stay updated on new episodes
Rate & review to help others discover insightful content.
Leave a comment—we’d love to hear your thoughts!
Share with friends, colleagues, and fellow investors who care about sustainable finance.

Listen now on Spotify and be part of the conversation on thoughtful investing!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

In this episode of the Money Wise UK podcast, host George Ladds speaks with Ben Yearsley, a financial expert with a rich history in the industry. They discuss Ben's journey from his early aspirations of becoming a stockbroker to his extensive career at Hargreaves Lansdown and his current role in consultancy and investment. The conversation delves into the importance of asking questions, the balance between work and life, and the definition of success and happiness in one's career. Ben shares insights on investing in startups and the lessons from successes and failures. The episode concludes with Ben's advice on the significance of absorbing knowledge and the value of personal connections in the financial world.

Key takeaways

• Ben Yearsley has a long history in financial services, starting at Hargreaves Lansdown.
• He was always interested in finance, inspired by his father's banking career.
• Ben's career at Hargreaves was marked by innovation and personal growth.
• He left Hargreaves in 2012, feeling he was coasting and needed a change.
• Investing in startups has been a significant part of Ben's career post-Hargreaves.
• He emphasises the importance of asking questions to absorb knowledge.
• Ben believes in maintaining a work-life balance, especially with family commitments.
• For Ben, success is defined as doing what you enjoy and having the freedom to choose.
• He advocates for a lifestyle business approach rather than aggressive growth.
• Ben reflects on the cultural tendency to knock down success in the UK.

Chapters

00:00 Introduction to Ben Yearsley and His Career Journey

03:09 The Evolution of Hargreaves Lansdown

06:14 Transitioning from Hargreaves to Fairview Investing

09:15 Investing in Startups and Private Companies

12:05 The Nature of Entrepreneurship vs. Business Ownership

15:15 Lessons Learned from Investing and Business Experiences

26:35 Building a Sustainable Business

32:02 Defining Success and Happiness

34:08 Balancing Work and Family Life

39:14 The Importance of Learning and Asking Questions

Fairview Investing

Book: In for a Penny by Peter Hargreaves

In this episode of the Money Wise UK podcast, host George Ladds speaks with Henry Rossiter of Belmont Estate about the estate's commitment to sustainability, community engagement, and the challenges of balancing business with environmental values. Henry shares his journey from a family background in agriculture to leading Belmont's transformation into a venue that connects people with nature. The conversation explores the importance of community involvement, the need for a reconnection with nature, and the pressing environmental challenges we face today. Henry emphasises the role of biodiversity and sustainable practices in ensuring a better future for both the estate and the planet.

Takeaways

• Belmont Estate focuses on sustainability, community, and education.
• Henry Rossiter's journey began with a childhood interest in agriculture.
• The estate has evolved from a simple venue to a community hub.
• Financial sustainability is crucial for running Belmont Estate.
• Community engagement is key to nature connection and education.
• Nature connection programs have seen significant volunteer involvement.
• Reconnecting with nature can improve mental and physical well-being.
• Environmental challenges require innovative solutions and community action.
• Biodiversity net gain is essential for future developments.
• The future of Belmont Estate aims for growth through partnerships.

Chapters

00:00 Introduction to Belmont Estate and Its Vision

03:08 Henry Rossiter's Journey to Belmont Estate

05:52 Transforming Belmont: Challenges and Opportunities

09:15 Balancing Business and Environmental Values

12:10 Community Engagement and Volunteering Initiatives

15:15 Reconnecting with Nature: The Importance of Community

20:58 The Impact of Nature on Wellbeing

27:11 Environmental Challenges and Solutions

36:00 Future Aspirations for Belmont Estate

Links:

Belmont Estate

Money Wise UK

The Nature Fix: Why Nature Makes Us Happier, Healthier, and More Creative - Florence Williams

🎧Don’t forget to subscribe for future episodes, leave a review, and share your thoughts.

📢Disclaimer: This podcast does not provide financial advice. Please consult a financial adviser for personalised guidance. Investments can rise and fall, and past performance is not a reliable indicator of future returns. Any company mentions are for discussion purposes only and do not constitute recommendations.

In this candid episode, George speaks with entrepreneur Hugo Morrissey about his bold leap from a career in finance at Neptune Investment Management to launching Nuisance Drinks in 2020. Hugo opens up about the highs and lows of starting a business during the pandemic, from foraging nettles to hand-labeling 5,500 bottles.

The conversation takes a deeply personal turn as Hugo shares his struggles with mental health while running the business solo—and how therapy and antidepressants helped him find his footing again.

He also reflects on his decision to exit the brand in 2024, touching on sunk cost fallacy and the tough realities of scaling an FMCG startup. Finally, Hugo introduces his new venture, Blackbook Design Collective, a creative agency bridging South African talent with UK clients.

This episode is a powerful story of resilience, reinvention, and redefining what success really means.

Blackbook Design Collective: https://www.blackbookdc.com/

Money Wise UK: https://www.money-wise.uk/

🎧Don’t forget to subscribe for future episodes, leave a review, and share your thoughts.

📢 Disclaimer: This podcast does not provide financial advice. Please consult a financial adviser for personalized guidance. Investments can rise and fall, and past performance is not a reliable indicator of future returns. Any company mentions are for discussion purposes only and do not constitute recommendations.

In this episode of Money Wise UK Podcast, we welcome back Richard Parkin, Head of Retirement at BNY Investments. Following the October Budget and his latest research with NextWealth on Retirement Advice, Richard shares key insights shaping the future of retirement planning.

Key findings from the research include:
🔹 47% of advisers feel compliance with the thematic review limits their ability to meet client demand.
🔹 28% of advisers have no plans to adopt a standardized retirement advice model.
🔹 40% of advisers continue using the same portfolios for decumulation as they do for accumulation.

We dive into these findings, discussing the role of annual reviews, industry trends, and what the future holds for retirement advice. Whether you're an adviser or an individual planning your retirement, this episode offers valuable perspectives from both sides of the conversation.

💡 Resources:

• For retirement insights, visit BNY Investments.
• Advisers can explore the Money Wise UK Centralised Retirement Proposition®.
• If you're seeking retirement advice, check out unbiased.co.uk.

🎧 Don’t forget to subscribe for future episodes, leave a review, and share your thoughts. Join us on this journey as we navigate the evolving world of retirement planning.

📢 Disclaimer: This podcast does not provide financial advice. Please consult a financial adviser for personalized guidance. Investments can rise and fall, and past performance is not a reliable indicator of future returns. Any company mentions are for discussion purposes only and do not constitute recommendations.

Thoughtful Investing with Castlefield Investment Partners

If you’ve ever felt overwhelmed by the jargon surrounding ESG, sustainable investing, responsible investing, impact investing, and ethical investing, this episode is a must-listen.

In this episode of the Money Wise UK Podcast, host George talks with Callum Wells of Castlefield Investment Partners to discuss the complexities of sustainable finance.

Key topics include:

• Understanding the differences between ESG, responsible, impact, and ethical investing
• How to navigate the latest FCA sustainable investment labels
• Castlefield’s unique approach to engaged and transparent investing
• The role of regulatory frameworks and governance in sustainable finance
• What thoughtful investing truly means in today’s evolving market

Join us as we explore how investors can align their portfolios with their values while ensuring long-term financial sustainability.

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Listen now on Spotify and be part of the conversation on thoughtful investing!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

In the Money Wise UK Podcast episode, host George speaks with David McNeil of Castlebay as the firm celebrates its 10th anniversary. David shares his journey into investment management, from an early fascination with stockbroking to co-founding Castlebay in 2013. He discusses the firm’s unique approach to quality value investing, maintaining a low turnover strategy (10% annually) and a long-term perspective.

The conversation explores the challenges of running an independent investment firm, including regulation, technology adoption, and industry consolidation. David highlights Castlebay’s commitment to transparency, independence, and building long-term relationships with investors, contrasting trends in larger asset management firms.

Please tune in for insights into Castlebay’s investment philosophy, approach to ESG integration, and vision for the future.

Visit my website money-wise.uk for more details, and don’t forget to follow, rate, and share to help spread the message!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns, and investments can fall and rise. Any mention of a company is not a recommendation.

Castlebay Website

Other websites:

Monday.com

saturnAI

With poverty and inequality in the UK remaining among the highest in the developed world, impact investing offers a way to address these challenges while delivering financial returns.

George and Hermina break down the world of investment trusts, explaining how they work and uncovering the unique opportunities in the social impact sector. They also discuss risk management, investor safeguards, and what sets the Schroder BSC Social Impact Trust apart from others in the ESG space.

This conversation features real-world case studies of how the trust has created a measurable social impact, the transparency provided through impact reporting, and what the FCA sustainability label means for investors. We also look at the additional oversight required to ensure authenticity in ESG investing.

This is a must-listen episode if you’re interested in sustainable investing, ESG principles, or understanding how investment trusts work.

🎧 Listen now and subscribe to stay updated on the latest in financial markets, investment opportunities, and sustainable finance.

📌 Visit my website money-wise.uk for more insights on investing, and don’t forget to follow, rate, and share to help spread the message!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns, and investments can fall and rise. Any mention of a company is not a recommendation.

Investment Trust Discounts:

Winterfloods research: The current investment trust sector discount is 14.5%, compared to an investment trust sector 30-year average discount of 8.8%. This highlights the potential for a reversion to mean over time or potentially greater upside should the sector revert to trading close to NAV, as has been much of the case in recent years (this was data as of December, and discounts have widened a bit further since).

AIC statement: ‘Investment trusts have now traded at double-digit discounts for the longest sustained period on record’.

Join George as he sits down with Andrew Cain of GSI for a deep dive into factor investing and its role in global investment strategies. This episode unpacks key investment concepts, including:

✅ How factor investing works and its potential benefits for portfolio diversification and risk management
✅ The differences between index investing and active strategies—and whether our approach to them should evolve
✅ The FCA’s sustainable investment labels and their impact on fund selection
✅ The intersection of factor investing and ESG, exploring engagement strategies and what sustainability means for investors

With global markets shifting, understanding how to optimize investment strategies using factors like value, momentum, and quality is more important than ever. Whether you’re interested in factor investing, sustainable finance, or new approaches to asset allocation, this is a must-listen episode.

🎧 Listen now and stay ahead in investments, financial markets, and sustainable investing.

📌 Visit my website money-wise.uk for more insights, and don’t forget to follow, rate, and share to help spread the message!

Please note: This podcast does not provide financial advice. We recommend speaking to a financial adviser if you have any questions. Past performance does not guide future returns, and investments can fall and rise. Any mention of a company is not a recommendation. For more details on GSI, visit gsillp.com.

In this episode, George sits down with Mikhail Zverev and Graeme Bencke of Amati Global Investors for an in-depth discussion on global investing and the role of active management in today’s markets.

We explore key themes, including:

✅ The complexities of modern financial markets and what they mean for investors
✅ The ongoing debate between active vs. passive investing—does active management add value?
✅ The risks of avoiding the "Magnificent Seven" and the challenges of holding large, index-heavy stocks
✅ The differences between working at a major investment house vs. a specialist fund manager

For investors looking at opportunities beyond the index, this episode provides valuable insights into how active management can work as a standalone strategy or complement passive investing.

🎧 Listen now to stay ahead in global markets, investment trends, and portfolio management strategies.

📌 Visit my website money-wise.uk for more insights, and don’t forget to follow, rate, and share to help spread the message!

Please note: This podcast does not provide financial advice. We recommend speaking to a financial adviser if you have any questions. Past performance does not guide future returns, and investments can fall and rise. Any mention of a company is not a recommendation. For more details on Amati, visit amatiglobal.com.

Join George in this special two-part series, where the focus shifts from investments to real-life businesses. In this episode, George sits down with Brad Askew, founder of Bristol Spring (formerly Spring Incubator), to explore his entrepreneurial journey—from launching an online legal services company to successfully selling it to a multinational legal insurance firm.

Key topics include:

✅ What happens after selling a business? The transition, challenges, and opportunities in the next chapter
✅ The mindset of successful entrepreneurs—key qualities that define business leadership
✅ Lessons from building, scaling, and exiting a company
✅ The more profound question: What does success truly mean?

This engaging discussion is packed with insights for entrepreneurs, business leaders, and anyone navigating the world of startups, acquisitions, and business growth.

🔗 Check out the new website for Bristol Spring: bristolspring.co.uk

🎧 Listen now to gain valuable business insights, and don’t forget to follow, rate, and share!

📌 Visit my website money-wise.uk for more details.

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns, and investments can fall and rise. Any mention of a company is not a recommendation.

Join George in this special two-part series, where the focus shifts from investments to real-life businesses. In this episode, George sits down with Sam Gee of Manning Gee Investments to explore the challenges and opportunities of launching and scaling a financial planning firm.

Key topics include:

✅ Starting a financial planning business – Overcoming early hurdles and finding the right strategy for growth
✅ Navigating regulatory challenges – Understanding compliance, industry regulations, and the impact on financial advice firms
✅ Industry consolidation and competition – How to stand out and build a sustainable business in a rapidly changing landscape
✅ Lessons in business ownership – The realities of running a firm, from client relationships to operational efficiency

For financial advisers, entrepreneurs, and anyone interested in financial planning, this episode provides valuable insights into building a successful practice.

🎧 Listen now for expert perspectives on entrepreneurship in financial services!

📌 Visit my website money-wise.uk for more details, and don’t forget to follow, rate, and share!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns, and investments can fall and rise. Any mention of a company is not a recommendation.

Join George as he sits down with Premier Miton's Emma Mogford for an insightful and thought-provoking conversation on key investment themes. In this episode, they explore:

✅ How confirmation bias shapes investment decisions – Are we making objective choices or just reinforcing existing beliefs?
✅ Income vs. growth investing – The pros, cons, and which strategy suits different market conditions.
✅ Active vs. passive management – When does each approach work best, and what are the key considerations for investors?

Packed with expert insights and actionable takeaways, this episode is a must-listen for investors, financial planners, and anyone navigating today’s evolving markets.

🎧 Listen now to sharpen your investment thinking!

📌 Visit my website money-wise.uk for more details, and don’t forget to follow, rate, and share to help spread the message!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns, and investments can fall and rise. Any mention of a company is not a recommendation.

In this episode, George is joined by Joe Bunting and Christoph Weidebach of Tellsons Investors for an in-depth discussion on the evolving landscape of fund management. As industry consolidation reshapes the investment world, specialist fund managers must find ways to deliver value and stay competitive.

Key topics include:

✅ Active vs. passive investing – Which approach is best in today’s market?
✅ Value vs. cost – The trade-offs investors need to consider.
✅ The future of independent fund management – How smaller firms can compete in a world of increasing scale and regulation.
✅ Long-term thinking in investment management – Why a disciplined approach still matters.

With expert insights and practical takeaways, this episode is a must-listen for investors, financial advisers, and anyone interested in the shifting dynamics of the fund management industry.

🎧 Tune in to gain valuable perspectives on the future of investing!

📌 Visit my website money-wise.uk for more details, and don’t forget to follow, rate, and share to help spread the message!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns, and investments can fall and rise. Any mention of a company is not a recommendation.

In this episode, George sits down with David Jane, a leading income manager at Premier Miton, to explore how natural income strategies can support a more sustainable retirement.

As retirees seek stable cash flow without depleting their capital, income-generating assets offer an alternative to traditional drawdown approaches. David shares his insights on:

✅ How natural income works – The key assets that generate steady income.
✅ The risks and rewards – What investors need to consider.
✅ Building a resilient retirement plan – Strategies for long-term financial security.

This episode is a must-listen for anyone interested in enhancing financial stability in retirement.

🎧 Tune in now for expert insights on creating a sustainable income strategy!

📌 Visit my website money-wise.uk for more details, and don’t forget to follow, rate, and share to help spread the message!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.

In this episode, George sits down with Richard Parkin, Head of Retirement at BNY Mellon, to unpack the FCA’s latest thematic review and its implications for retirement planning.

As regulatory scrutiny intensifies, financial planners must evolve their centralised retirement strategies to meet changing expectations. Richard shares expert insights on:

✅ Key takeaways from the FCA review – What advisers need to know.
✅ The impact on retirement income planning – Ensuring sustainability and client security.
✅ Adapting to regulatory change – Strategies for firms to stay ahead.

This episode provides practical guidance and forward-thinking insights for financial planners navigating today’s complex retirement landscape.

🎧 Tune in now to stay informed on the future of retirement planning!

📌 Visit my website money-wise.uk for more details, and don’t forget to follow, rate, and share to help spread the message!

Please note: This podcast does not provide financial advice. If you have any questions, we recommend speaking to a financial adviser. Past performance does not guide future returns; investments can fall and rise. Any mention of a company is not a recommendation.