Leaders in funds management– Lewis Bearman – COO, Prodigy Investment Partners

I have worked in the financial services industry since 1983 when I left school and joined the Reserve Bank. I left the RBA in 1986 to join County Investments and that is when my career in financial services and investment management really began. I worked at County from 1986 until 2003 doing all sorts of roles. Starting in capital markets and then moving into fixed interest management until I found my operational calling in 1998. I left what had then become Invesco in 2003 to join Perennial Investment Partners as COO. This was an amazing opportunity to be involved with one of the most successful boutiques as it grew from around $4 billion when I joined to over $20 billion at its peak. I left Perennial in 2014 and am now a Director and COO of an exciting venture, Prodigy Investment Partners. I am enjoying working with ex MLC head Steve Tucker and being backed by a committed and enthusiastic parent Euroz Securities.

My move from the RBA to County really was right place at the right time. I was looking to leave the RBA as most roles were moving to Sydney and I didn’t want to at that stage. County were looking to set an office up in Melbourne and were asking around at the RBA for a stock settlements clerk. I approached them and was successful in getting the role. The rest is now history. I worked as a settlements clerk for almost 2 years.

Prodigy Investment Partners is a multi-boutique investment management house bringing the brightest minds to deliver superior returns for our clients over the long term. We seek to partner with talented investment professionals who can deliver quality investment strategies that meet client needs.  We do this through a sustainable business model that is directly aligned to the interests of our clients. With experienced and accomplished executives managing the business, we provide a platform of first class infrastructure and services that support our boutique partners. Prodigy launched its first partner boutique in 2015 –Flinders Investment Partners, an Australian Small Cap specialist. We will launch our second partnership in April 2016. We have been pleased with the number of opportunities that exist to partner with talented investment professionals looking to establish new businesses.

I believe that the approach to attracting and developing talent is not driven by the size of the organisation. Attracting talented individuals into a company with a good reputation and good people is not difficult. The challenge is developing the talent to ensure they can thrive in the environment that you provide for them. To develop talent I believe you need to invest time and effort to understand peoples skills and interests. Provide regular, open and honest feedback; be prepared to invest in training and development and most importantly place trust in the individual to do the role they have been employed to do and ensure they have the right resources and support to do the role to the best of their ability. Always ensure you act and encourage in the way you want your team to act.

Listen to those around you, learn from those within your organisation who have been successful, don’t be afraid to ask questions and always challenge yourself to grow, learn and do better.

The financial services industry is an ever changing and developing industry that continues to provide challenges and opportunities. The main challenges I see relate to the performance of markets, changes to legislation governing superannuation and financial services, growing expectations from clients and investors for better service, returns, transparency and costs.

There are also plenty of opportunities. To ensure we continue to educate investors to ensure they plan and achieve financial independence as we all grow older and approach retirement. As an industry we also need to ensure that all the participants in the industry are more respected for the roles they do and we continue to educate to improve financial literacy.

The process of rating your funds is very important. It is an opportunity to get both our investment teams and infrastructure assessed by independent organisations that are well respected in the funds management industry. Preparation is the key to ensure that you can clearly describe your investment process and fundamental beliefs as well as how the business functions. It is also important to be able to demonstrate that what you are explaining is what you actually do.

I have a number of interests outside of work. I have always been passionate about junior sport, especially junior AFL football. I am a life member of the East Malvern Junior Football club having been involved there for almost 10 years. I am now currently a Board member of the South Metro Junior Football League. I am a life member of the Carlton Football Club, and despite difficult times currently I remain a passionate supporter. I am also a keen racehorse enthusiast having been involved with breeding and ownership. My family is also very important to me and ensuring I spend time with them is a priority.