Where possible we seek to invest in direct equities and bonds but recognise that a strategic overview may lead us to buy collective funds, such as unit trusts, investment trusts or ETFs. No one investment house can be a specialist in all asset classes, and we have access to the very best fund managers from around the world. We also accept that it sometimes makes sense to blend both active and passive investment funds. We are firmly of the view that short-termism detracts from a long-term strategy and puts our clients’ funds at greater risk than is necessary. As we say, we recognise that having your wealth work successfully for you is vital.