Diary of an adviser  

Diary of an Adviser: Richard Flax

Diary of an Adviser: Richard Flax

Strategies, reviews and team meetings are the order of the day for this CIO


I start every day with a morning meeting to review the weekend news and its impact on financial markets.

It is important that we put into context key developments and discuss how they might affect the Moneyfarm portfolios.

We often use these meetings to interrogate underlying assumptions and debate investment themes. 

I do a video once a week while my colleague James Ballinger, head of UK advisory, does another.

It is a chance for both of us to discuss key issues that have caught our attention, and what we think will interest our clients.


Today is taken up with a few strategy calls, focusing on the longer-term implications of Covid-19, how the global economy might be impacted on a three-to-five year view and what the implications are on financial asset prices.

I also catch up with our chief executive Giovanni Daprà; discussing client portfolios, resourcing, team morale, challenges (if any) of remote working and also thinking about new products. 

Working from home has not been too much of a change for us.

In fact, it is a continuation of an existing trend, relying heavily on communications tools like Slack, rather as we did before.

This all confirms the fact that broadband is a critical part of the national infrastructure.


Like most days, Wednesday consists of reading, researching and discussing investment ideas.

I also spend a lot of time discussing our content for clients with the head of design and the rest of the team.

This includes how we can continue to provide more valuable content for clients, especially when we are speaking to a large audience with different levels of knowledge and interest. 


I spend much of Thursday with our investment committee and the heads of our UK and Italian advisory business.

This is a regular monthly meeting to discuss portfolio positioning, client performance, asset classes and expected returns.

Our discussion centres on the likely long-term impact of Covid-19 on the global economy and financial market returns, particularly looking at growth, inflation, monetary and fiscal policy, as well as potential regulatory changes that might emerge from the current crisis.

In the afternoon I have a meeting with a portfolio manager to discuss our research focus, as well as some risk reporting for our clients. 


Today is our weekly portfolio review meeting.

It involves discussing different strategies and highlighting any risks or opportunities that lie ahead in the medium term.

This week we also followup on the debates and conclusions we drew from the investment committee meeting yesterday. 

In the afternoon I take part in our weekly all-company Townhall, which includes a brief update on financial markets. 

Richard Flax is chief investment officer at Moneyfarm 

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