TRAP: The Real Adviser Podcast 88 - Independence Day: From SJP to IFA
Jan 15, 2026
James, founder of Porter Partners, shares his journey from St. James's Place to an independent advisory practice. He discusses the cultural shifts that motivated his move and the benefits of reduced client onboarding friction. James also dives into the complexities of choosing a tech stack, opting for minimal, API-friendly solutions. He emphasizes the importance of getting new advisors into client meetings early to build relationships. Plus, he offers valuable advice for peers considering a similar career shift and reflects on the future of technology in client services.
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Episode notes
Data-First View On Private Markets
- Dimensional Fund Advisors published empirical research that unpacks private markets rather than taking a polemical stance.
- Use data-first analysis to help clients decide on private equity and private credit exposures.
Timing Costs For Sovereign Wealth Decisions
- Ireland posted a large tax take and an exchequer surplus while raising the multinational corporation tax rate.
- Sovereign wealth fund decisions delayed implementation and cost opportunity, highlighting timing risk for public investors.
Risk Aversion Erodes Pension Returns
- UK pension schemes have significantly underperformed due to extreme risk avoidance and governance-by-committee.
- Overemphasis on eliminating short-term risk erodes long-term returns and economic dynamism.
