31 March 2020

Richie values trust on and off the golf course

We have enjoyed a five-year relationship with our client and European Tour ambassador Richie Ramsay.

Like most of us, his working life has been put on hold as the world copes with the COVID-19 crisis.

And, like most of us, he has been keeping an eye on the financial fall-out, with stock markets around the globe reacting on an hourly basis to news, good and bad.

But family man Richie, in golf and his financial affairs, trusts the expertise and professionalism of his advisors for long-term success.

“Perception and reality have been driven further apart than ever before during this crisis.

“A lot of that is triggered by social media, where you get people talking about things they really don’t know much about or have any expertise in. There has been no shortage of scaremongering.

“You might not realise it, but slowly but surely it can begin to percolate into the way you think.

“In golf, the best players don’t speak to people with the most followers or the biggest presence on social media. That can be the blind leading the blind.

“The top players on the Tours would rather speak to the people who are most knowledgable and get advice which is specific to their game rather than being generic.

“It is a bit like that in the financial world, where I rely on a team I can trust at Carbon Financial.

“In the day job, I want someone knowledgable and who’s judgement I trust, with solid data and the numbers to back up what they are saying.

“I have been with my coach, Ian Rae, for a long time now and I trust him implicitly.

“He is one of the most knowledgable coaches out there.

“But still, every so often, I will challenge him on advice he is giving me.

“Ian will then explain his thinking, providing data to back-up his coaching and improve my shot-making and prospects of doing well in tournaments.

“I can then make a plan knowing the evidence is there to show I am on the right path.

“It is about challenging each other to bring out the best in me.

“That is what I get from the team at Carbon, where they are totally committed to evidence-based investment, trying to make your life easier and better in the long-term.

“When you are given a clearer picture you can make a more informed decision, whether it is in sport, business or your personal finances.

“You are subject to less stress and anxiety when you are making important decisions. That has to be a good thing.

“I have enjoyed a close relationship with Carbon for five years or so now.

“At one stage, I was thinking about property investment in Edinburgh.

“My father is an architect and I have that same interest in buildings, new and old, and the design element.

“There is an emotional attachment to that I suppose and sometimes emotion can cloud your judgement, again in sport or business.

“I mentioned I was thinking of buying into property. My advisor, Matt, didn’t turn around and say ‘don’t do that.’

“Instead, he said Carbon would build a comparison built on evidence, including the hidden costs in property investment.

“When you looked at the numbers, even a 10-year-old kid would be telling you the market was the best long-term performer, with a liquidity option which isn’t so readily available in bricks and mortar.

“Carbon are definitely one of the most ethical companies I have dealt with.

“They are all about the long-term interest of the individual client.

“In golf you get a lot of ‘yes’ men. But sometimes you need someone who is honest enough to tell you something isn’t such a good idea.

“I look for that honesty, and get it, from the Carbon team.”

The value of investments and the income derived from them can fall as well as rise. You may not get back what you invest.

This communication is for general information only and is not intended to be individual advice. It represents our understanding of law and HM Revenue & Customs practice. You are recommended to seek competent professional advice before taking any action.

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