17 February 2025
What a portfolio review should actually examine
Performance tables are only one page of the story. Charges, wrappers, concentration and cash buffers deserve equal attention.
Clients sometimes arrive with a stack of annual statements and ask whether returns have been 'good enough'. That question is incomplete. A proper review asks whether the mix of equities, bonds and cash still matches the timeline for spending, and whether any single holding or sector has quietly grown too large.
Charges compound quietly. Platform fees, fund ongoing charges and adviser remuneration should be listed plainly so you can see the drag on returns. Tax wrappers deserve the same scrutiny: an ISA may be underused while a general investment account generates avoidable gains.
We also look at cash buffers for known expenses and at whether life cover or death benefits are still aligned with your estate wishes. Markets move; so do family circumstances.
You should leave a review with a short list of recommended changes and a clear sense of what can wait. Endless tinkering is rarely helpful; purposeful adjustments are.