Joe is currently Director of Research at SJP having previously worked at some of the largest asset and wealth managers in Europe.  Most notably, spending 7 years with ABRDN, where he was a fund manager with responsibility for Strategic Asset Allocation for MyFolio, one of the most successful multi-asset fund ranges in the UK.  Joe, who holds a Master’s degree in Behavioural Science from the London School of Economics, is widely known across the industry as a behavioural finance expert and runs the popular blog: behaviouralinvestment.com. His first book ‘The Intelligent Fund Investor’ was published in November 2022 and focuses on the erroneous beliefs and behavioural biases that can lead investors astray and shows how we can make better decisions.

Why is corporate culture becoming more important to you when deciding who you allocate assets to?

Culture can easily be dismissed as corporate BS that looks good on a PowerPoint but is actually meaningless for employees or other stakeholders; however, it is incredibly important. Culture in is simplest form is the expected and rewarded behaviours within an organisation. It has a profound impact not only on investment outcomes but on the experience and happiness of employees.

In your view, why is it important to set a higher standard of stewardship and behaviour within the investment industry?

The investment industry, perhaps inevitably, has been more focused on the shareholder value maxim than other areas of the economy and this narrow approach can have profoundly negative impact for the industry and society in which it operates. The more elitist and exclusive an industry is, and the more it subordinate other stakeholders are, the worse overall outcomes are likely to be.

Why did you decide to sit on the ACT Stewardship Council and what does it mean to you personally?

I am aware that I entered the industry from a privileged position, and that luck and randomness have played a large part in getting me to where I am in my career. Initiatives like ACT can help go some way to levelling the playing field for all, whilst also improving all stakeholders’ experience of the industry.