UHNW Wealth Managers
London, United Kingdom
Wealth Management & Private Banking
As a managing director of private wealth management, Goldman Sachs’ James Weaver is responsible for finding, advising, managing and looking after the wealth of clients ‘through all the complexities that life brings’. Weaver personally holds $2.7 billion under management, with the team overseeing a further $6 billion.
He’s overseen a ‘continued expansion’ of his team, which now has seven advisers in its group, and has spun out a separate team ‘crucial’ to growing the business. The vast majority of his clients are self-made and relationships are personal: discussions can range from individual investments to politics, from benefits of trusts to the joys of fishing.
‘Our clients and business are both long term,’ he says. ‘The key is to have that long-term mentality and thus grow both the client base and the advisor teams for the benefit of the next generation. I always say that we are not running the clients’ money, we are running their children’s. If we do a good job, they will in time introduce us, and that will be the key endorsement.’
The demand for liquidity has not subsided, Weaver says, while appropriate financing for portfolios remains key. The Covid-19 pandemic has ‘highlighted the requirement for cogent risk-analysis and thoughtful liquidity planning,’ he notes.
Goldman’s wealth management practice is anchored in the goals of individual clients, leveraging the appropriate expertise and knowledge of the firm and its famed global network. The range of investment solutions is wide, and includes an extensive alternative investments offering as well as cash, fixed income and equities.
‘Risk-adjusted returns remain at the fore,’ he explains. ‘Concerns on market valuations persist, with buffered protection much discussed. Alternatives, particularly private equity, remain a theme with companies remaining private for longer.’
Weaver joined Goldman in 2000 after a stint at Cazenove, where he worked in US securities. He then moved to private wealth management in 2006. ‘My own experience, and the firm’s expertise in the sector, has ensured that we have continued to be important to the individuals as their own careers have matured,’ he adds.
Weaver holds the role to be a ‘privilege’, where reputation and trust are paramount. ‘Every day is different,’ he says. ‘I might be advising an individual on selling a business (and sometimes addressing the resulting sense of grief), income requirements for a wider family or how and when a child should start to learn about wealth.’
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