MAIA is delighted to announce that Laurence Boyle’s latest editorial has been published today by Citywire NMA.

The full editorial is below:

Doing multi-asset differently

Laurence Boyle, chief investment officer at MAIA Asset Management, explains how its active, partnership-based approach challenges the herd mentality of the MPS market and focuses on long-term value over short-term cost.

What defines MAIA’s approach to multi-asset investing and how does it stand apart from other MPS providers?

We take a truly global multi-asset approach to investing. By combining active and passive funds, we pursue global opportunities across equities, fixed income and alternatives. Diversification comes from blending what we see as the best options across asset classes, geographies, styles and market capitalisations. This method, honed by our team over years at MAIA and in previous roles at Investec and Williams de Broe, provides the best opportunity to outperform over time.

Why is it important to maintain a clear distinction between financial advice and investment management?

We see the role of an IFA as full-time: financial planning, tax planning, long-term goal setting and managing client expectations. Investment management is equally a full-time role. By outsourcing investment management to MAIA, advisers can gain access to an experienced team of investment professionals with a proven track record and robust processes. We ensure clear communication so that advisers understand portfolios as thoroughly as if they were managing them themselves, without spending the time or incurring the cost of in-house research. This separation allows each party to focus on its core strengths while working together to achieve the best outcomes for clients.

MAIA has grown from a standing start to £800m in assets. What has driven that growth?

Growth stems from what we call a ‘strategic partnership’ with IFAs. While advice and investment management remain separate, success requires both areas to work seamlessly together, understanding each other’s processes inside and out. Open communication is a priority for us, in both up markets and down markets. Timely access to our investment managers and clear portfolio updates builds trust. IFAs feel confident recommending our portfolios because they understand not just the investments, but the reasoning behind each decision. This collaborative and transparent approach has been central to our growth.

How does the firm balance being a boutique specialist with the scale needed to deliver strong, consistent outcomes?

The founders of MAIA have worked together for over 30 years and share a deep understanding of each other’s strengths. Our day-to-day portfolio processes are tried and tested, which allows new team members to integrate seamlessly and maintain our team-based approach. This structure lets us operate efficiently and retain the agility and personal touch of a boutique, avoiding cumbersome committees that can slow decision-making. At the same time, the depth of experience and consistent methodology ensure we can deliver the scale and reliability expected by advisers and their clients.

Fees remain a key point of debate across the industry. How does MAIA’s approach to pricing reflect its commitment to value and good client outcomes?

Costs are always a key discussion point in the advice process, whether investment, adviser or platform costs. Our fees are an output, not a target, and we never select investments based on cost alone. Each portfolio blends active and passive strategies to deliver the best outcome for investors. The FCA’s consumer duty regulation emphasises value for clients. True value is defined by outcomes, not price. Our results and continued growth through like-minded IFAs demonstrate that our approach consistently delivers real value.

The investment team has a long and stable track record. What advantages does that bring to portfolio construction and performance over time?

Our team has more than 100 years’ cumulative experience, managing money through multiple economic and market cycles. This teaches the importance of a strong and consistent asset allocation process. We combine individual experience with a robust research approach, efficient decision-making and disciplined risk management – producing a repeatable, long-term strategy. Stability also means advisers deal with people they know and trust, rather than a constantly changing team.

What does diversification mean in practice within MAIA’s portfolios and how do you position them to perform across different market conditions?

Diversification is central to MAIA’s investment management but not pursued for its own sake. We blend asset classes, geographies and styles to deliver the best outcomes across market conditions. We don’t aim to be contrarian, but by avoiding herd behaviour and identifying overlooked opportunities, we’ve built diversified portfolios positioned to outperform across changing market conditions. Today, equity allocations have a strong value tilt, built over several years as concentration and valuation risks grew. For example, during the 2020 pandemic, we invested in a UK equity income fund; in 2022, we added a European value manager; and in 2023, we increased exposure to emerging markets and Japanese value – all generating alpha. In fixed income, we had avoided government bonds before and during the 2022 selloff, later adding long-duration gilts when yields were attractive and risks skewed positively. A distinctive feature of our portfolios is a larger allocation to alternatives, which provide diversification, lower beta and new sources of alpha. Early positions in gold, gold miners, defined returns and infrastructure have provided protection and performance while others overlooked them.

How does MAIA work in partnership with advisers to make its portfolios accessible, transparent and easy to communicate to clients?

We work closely with IFAs, offering regular access to decision-makers and investment managers. Timely updates on markets and portfolios support advisers when engaging with clients. Our literature and commentaries explain what we are doing at portfolio level, delivered regularly and in line with market events or portfolio changes. This proactive communication ensures advisers are well-informed and confident, which ultimately benefits the end client. By making complex decisions clear and understandable, we support advisers in adding value beyond simply managing investments.

To read the article via Citywire, please click here.