Spear’s Review

Drew McNeil is head of client relationships at Wren Investment Office. He works with UHNWs to provide advice and oversight, with responsibility for all aspects of client service and portfolio management, as well as being a member of the investment committee.

He tells Spear’s he has seen growing client interest in private markets and alternative models, including ‘the Yale endowment model to investing in private equity’, a reference to a model that gained prominence in the 1980s and ’90s that prioritises allocation to illiquid, private market assets. However, he adds that over the last decade this model ‘has underperformed a plain vanilla 70 equity, 30 per cent bond portfolio’, contributing to a more nuanced debate around allocation.

On the planning side, he highlights that ‘UK tax changes have led to a lot more conversations about inheritance and succession’, with increased focus on timing and ‘when to have those important conversations with their children’, as well as whether to bring forward succession planning decisions.

McNeil joined Wren following senior roles at Lord North Street and Sandaire, where he led client relationship management for a large number of families and endowments. Earlier in his career, he worked at Schroders and ING Barings, and has been a CFA charterholder since 1999.