PA Adviser spends a week in the life of Ryan Hughes, managing director at AJ Bell Investments. Week commencing 27 April.
Monday
It’s a 4.45am alarm to catch the flight from Southampton to Manchester, with a couple of days in head office ahead. The flight used to be a regular fixture pre-Covid, before being cancelled and (thankfully) recently reinstated. I decide 6.45am is too early for the in-flight complimentary Tunnocks Caramel Wafer. Start the week as you mean to go on….
The day is spent in our executive committee, covering all aspects of business performance. I then sit down with finance to begin planning budgets for the next financial year starting in October. I also check in with Oliver, our new apprentice, to see how he’s settling in. I’m impressed by how quickly he’s picked up the business, although it’s clear our taste in music differs somewhat.
Dinner in the hotel overlooking Old Trafford, with the crowd providing the soundtrack as Man Utd takes on Brentford. The home fans head off happy after a 2–1 victory.
Tuesday
Full English resisted, and I’m in the office at 7.30am to catch up after yesterday’s long meeting.
I’m privileged to be a trustee of the AJ Bell Futures Foundation, and today is our regular meeting to review charity donation requests nominated by colleagues. There are some brilliant proposals on the table, and it’s a real highlight to approve support that will make a tangible difference to young people.
Soon after, I’m interviewing for a new hire, an energising conversation about the future of multi-asset investing in the UK, and different approaches to strategic asset allocation. Plenty to reflect on afterwards: adding to the team is something you always want to get right.
A quick check-in with the team follows, reviewing market events and confirming our recent rebalance went through smoothly across multiple platforms which, thankfully, it did.
An impromptu couple of drinks with some of the Manchester team, sat outside in the evening sunshine. My round, apparently.
Wednesday
Another full English resisted, and it’s an early start in the office reading a few interesting macro research pieces from external strategists, this time on the potential market impact of rising tensions around Iran. It’s always healthy to challenge our own thinking and ask what we might be missing. With our position in energy stocks having performed well, I’m keen to make sure the team doesn’t get complacent.
Later, I’m chairing the governance forum for one of our partnership advisers, where we run a bespoke range of portfolios. It’s a great discussion: markets; current positioning; and potential changes are all on the agenda. We also hear how clients are responding to the volatility and talk about how our communications can help them stay focused.
A late flight home and I return to discover my 16-year-old daughter has, unsurprisingly, barely noticed I’ve been away.
Thursday
An early start at home means I can get to the gym after a couple of days away. A mix of rowing and the exercise bike sets the tone, as my mind maps out the day ahead.
I join the internal sales team meeting to share an update on performance and positioning. Our calls on energy, inflation-linked bonds and shorter-duration fixed income spark plenty of interest, as the team looks for clear messages to take to clients. There are questions too about what might happen next at the Fed once Jerome Powell eventually hands over the reins, and what that could mean for interest rates. I give the honest answer: “I’m not quite sure yet.”
After a quick sandwich, I dial into an investment trust board meeting, having been invited to discuss how they can better reach retail investors. There are thoughtful questions about how clients on our direct-to-consumer platform are changing, what they want from their investments, and how best to communicate with them. I dial off hoping I’ve left the board with plenty to think about.
Friday
Two days in a row working from home makes the cats, Hector and Hugo, slightly suspicious about who this stranger is feeding them.
It’s an early start with calls to the key leaders in my team. James Flintoft updates me on how our new portfolio management system is performing —improving efficiency and sharpening our trading approach — and how his recent investor event in Leeds went. Paul Angell talks me through recent manager meetings focused on UK equities, Japanese equities and emerging market debt, while Ian Aylward shares the latest from partnership clients and where we can provide enhanced support. There’s plenty going on, and the team are right on top of the issues.
We end the week with our full team meeting and a chance for everyone to share what they’re working on, what they’re concerned about, or what they’ve delivered in the past seven days. It’s a great way to finish the week: everyone relaxed after another busy five days and looking forward to the long weekend.
I’m off on a two-day boys’ “cruise” to France for a friend’s 60th birthday. We did the same for his 50th and it was lively, so I’m hoping a decade of extra experience proves beneficial. Then again….
