Wealth DFM Talk

Podcast #8: Rethinking equity portfolios after the Gulf strikes, with Avantis Investors’ Phil McInnis

Geopolitical tensions have returned sharply to the forefront of markets this week. Recording at 2pm on Monday 2 March, just hours after the US and Israel’s strikes on Iran, this latest episode of Wealth DFM Talk captures investor thinking, as equity markets digest renewed uncertainty around energy prices, risk sentiment and broader stability.
Against that backdrop, WealthDFM’s Matt Williams and Sue Whitbread are joined by Phil McInnis, Chief Investment Strategist at Avantis Investors. They discuss why disciplined investment processes matter most during periods of geopolitical shocks such as those we’re seeing right now, how markets are responding to the escalation in the Middle East and the implications for global equities and risk.
While it is still early days following the Gulf escalation, there are already signs of market nervousness. In the conversation, Phil shares how investors can separate short-term noise from long-term drivers. He also explains why diversification and sticking to first principles during periods of such uncertainty remain central to a robust, long-term equity strategy.
In a week when headlines are moving markets, this episode provides timely perspective for investors trying to steer a path through all the uncertainty.
Listen to this month’s episode now!

Podcast #7: What’s going on with Gold? With WisdomTree’s Nitesh Shah

When the national news headlines feature what’s going in the markets, you know there’s something out of the ordinary going on. In the latest WealthDFM podcast, Sue and Matt dig into the extraordinary moves in precious metals markets, with Nitesh Shah, Head of Commodities and Macroeconomic Research at WisdomTree, a firm well known to advisers for its ETF and ETP expertise and for Nitesh’s expertise and widely read bullion insights.
Gold has surged to historic highs in recent months, albeit with plenty of volatility, the metal has delivered its strongest run in decades.
But what’s really driving the rally? Is this simply a traditional safe-haven response to geopolitical tensions and a weaker US dollar? Or does it signal something more structural, a shift in how investors view financial systems, currencies and long-term stores of value?
And then there’s silver, which has been climbing even more dramatically than gold. With questions around who is actually behind the buying, whether markets are entering bubble territory, and how sustainable current price levels really are, advisers are increasingly being asked how to interpret these moves.
In this episode, we explore:
The key forces behind gold’s powerful rally
How this cycle of investor participation differs from previous ones
Whether current price action points to a bubble or a broader repricing of global risk
The outlook for gold and silver, and the catalysts that could shape markets in the months ahead

Podcast #6: Concentration risk, the weakening dollar and the case for UK equities, with Morningstar Wealth’s Mike Coop

In the first episode of Wealth DFM Talk for 2026, our Content Editor Matt Williams and Editor Sue Whitbread explore how portfolio construction needs to evolve amid changing currency dynamics, market concentration and renewed uncertainty.
Joining the discussion is Mike Coop, Chief Investment Officer at Morningstar Wealth. Together, we unpack what a weakening US dollar means for investors, how advisers can think about diversification beyond the obvious, and whether the growing dominance of a handful of US mega-cap stocks is creating hidden risks or new opportunities.
Mike also reveals why forecasting has become more challenging, even with higher interest rates back in play, and whether volatility really should push investors toward more active trading.

Podcast #5: Could AI facilitate a comeback for US small caps? With De Lisle Partners' Dan Scott Lintott

In this month’s episode of WealthDFM Talk, our last one for 2025, Matt Williams and Sue Whitbread turn their attention to the other side of the Atlantic by discussing US small caps, a sector that’s struggled to keep up in recent years but may now be showing signs of opportunity.
With the AI revolution rolling out at speed and valuations looking increasingly attractive, could now be the time for investors to rediscover US small caps?
To help answer that question, we’re joined by Dan Scott Lintott, Investment Analyst at De Lisle Partners, who shares his insights on what makes a compelling small-cap investment, how AI could reshape the landscape, and his outlook for the US market as we head towards 2026.
Episode highlights:
The current environment for US small caps – and why they may be due a reappraisal
What Dan looks for in a US small-cap company, from fundamentals to valuation discipline
How AI adoption could create new opportunities in smaller US companies
Dan’s outlook for the US economy and markets heading into 2026
 

Podcast #4: UK Investment Management hits £10 trillion - Who’s driving the growth? With the Investment Association’s Miranda Seath

The UK investment management industry is booming - and the numbers prove it. According to the latest figures from the Investment Association (IA), total assets under management hit a record-breaking £10 trillion in 2024, marking a 10% year-on-year increase.
It’s a remarkable milestone that reflects a year of strong market performance, growing overseas interest, and a surge in retail investor participation. For the first time, overseas clients now account for more than half of UK-managed assets, while retail investors have overtaken pensions as the largest single client group.
In this latest episode of the WealthDFM Podcast, hosts Sue Whitbread and Matt Williams are joined by Miranda Seath, Director of Market Insight and Fund Sectors at the Investment Association, to assess what’s behind these record-breaking figures and what they mean for wealth managers, advisers, and the wider investment community.
Together, they discuss:
What’s driving the UK investment management sector’s 10% AUM growth
Why overseas investors are increasingly choosing UK firms to manage their assets
How retail investors are reshaping the market and what this means for future product and advice trends
As Miranda explains, these shifts reveal both opportunities and challenges for the UK as a global centre of investment excellence and for advisers helping clients navigate an evolving marketplace.

Podcast #3: Rethinking UK Equities and the benefits of yield with Franklin Templeton’s Jo Rands

In this month’s episode of Wealth DFM Talk, Sue and Matt are joined by Jo Rands, Portfolio Manager with the Franklin Templeton UK Equity team, to explore why now could be the moment for wealth managers to take a fresh look at UK equities. 
Jo shares why she believes there’s a compelling case for increased allocations towards UK large-caps over the next two to five years. Despite persistently low valuations since Brexit, momentum is finally building in the UK equity market. 
With the FTSE 100 up by around 10% so far this year, rate cuts from the Bank of England, and renewed investor interest, could the UK be an overlooked opportunity that’s ready to deliver? 
 In the conversation, Sue and Matt ask Jo about: 
Why the UK market may be far more exciting than many assume 
How income investing and total return strategies work hand in hand 
The growing role of share buybacks in boosting overall returns 
Key sectors – including tobacco, utilities and banks – where she sees attractive valuations and income opportunities today 
Jo argues that the UK equity story is far from boring. In fact, she sees it as a true British underdog, with yield providing a distinct advantage not always replicated overseas, as well as attractive valuations and discounts. 
Listen now to hear why UK equities could be one of the most compelling opportunities for investors in the years ahead. 
 

Podcast #2: Seeking out Asia’s hidden gems, with Aberdeen’s Gabriel Sacks

Now live: Latest episode of the Wealth DFM Talk podcast explores relatively untapped opportunities across Asian and emerging market equities.
In this episode, hosts Sue Whitbread and Matt Williams are joined by Gabriel Sacks, Investment Director on the Global Emerging Markets Equities team at Aberdeen and Co-Manager of abrdn Asia Focus plc.
Gabriel shares his insights into where the real, and often overlooked, value lies in Asian markets. From small-cap stocks to companies flying under the radar of mainstream analysts, Gabriel explains why these “hidden gems” may hold untapped potential for long-term investors, and how a closed-ended structure can bring benefits.
 Highlights from this month’s episode:
What makes a company a "hidden gem" in Asia?
Why investors might be missing out on major opportunities with these hidden gems?
The stock selection process, including in-person engagement in a world dominated by data and AI.
Are Asian smaller companies really riskier – or is that an outdated assumption?
This episode offers a concise and informative overview for those interested in uncovering opportunities within Asian equities, of portfolio diversification, and understanding the value of local insight when investing in emerging markets.
Listen now to the podcast now

Podcast #1: Global markets – calm, correction, or crisis? With Columbia Threadneedle Senior Economist, Anthony Willis

We’re excited to bring you the very first episode of Wealth DFM Talk – your new go-to monthly podcast exploring the big ideas and key insights shaping the world of wealth management.
In this debut episode, we tackle the rollercoaster ride that has been global markets in 2025. With President Trump’s unpredictable tariff agenda sending shockwaves through economies, investors have been challenged by an even more volatile and uncertain landscape than usual. But is the 90-day truce between the US and China a sign of sustained calm, or just the eye of the storm?
To help understand what’s really happening, we’re joined by Anthony Willis, Senior Economist at Columbia Threadneedle.
Our hosts Matt and Sue quiz Anthony on some of the biggest questions facing wealth managers in 2025 including:
What lies beyond the US-China 90-day tariff pause?
Is US exceptionalism fading — and where should wealth managers be looking instead?
Could undervalued UK equities present a hidden opportunity?
Is Europe’s 'self-help' narrative enough to break the cycle of low growth?
With his trademark clarity and macroeconomic insight, Anthony has plenty of actionable takeaways to help guide portfolio decisions in these ‘interesting times’.
Tune in for a really informative session in an easily digestible format on the outlook for markets and how wealth managers can help their clients during these turbulent times.
Listen now to Wealth DFM Talk Podcast #1!