Scotch College

Increased Commitment to OSCA from a Scotch Family Member

Interview with Mr Anthony Starkins and Ms Zoe Hart – First Samuel
Photography: Ms Kathryn Cairney

With the 2008 production of Les Misérables came the birth of a new partnership between OSCA and First Samuel Limited, a boutique wealth management company.

OSCA’s Tim Shearer recently met with Anthony Starkins, the founder and a director of First Samuel and Zoe Hart, private client adviser, to find out more about First Samuel.

Tim Shearer (TS): First Samuel recently entered into an agreement with OSCA to become a Platinum Sponsor. What led you to this position?

Anthony Starkins (AS): Two reasons. Firstly, I am inextricably linked to Scotch, as I pay three sets of fees here! More seriously, I believe that it is important to go beyond a mindset of seeing a school as a short-term service provider. The essence of Scotch is enduring. And I wish to ensure that my family will continue to see Scotch that way. Linking First Samuel to Scotch is a part of this.

Zoe Hart (ZH): Secondly, First Samuel has been seeking to align itself with an organisation that carried similar values. During our sponsorship of Les Miserables last year, we were struck by the quality of all the people involved, the integrity of OSCA members actively involved on Council and the passion with which members of the Scotch Family involved themselves in this inaugural production. These factors attracted us to OSCA as a body that we would like to partner with.

TS: What impact has the Global Financial Crisis had on your business and clients?

AS: Considerable. As far as our business is concerned it is more a grinding emotional battle. We’ve tightened our belts, but haven’t put anyone off – we consider it is critical to retain the capacity to serve clients. And, in any case, this down-time will pass. To me, it seems rather daft to fire people today and rehire in six months.

Our clients have, mostly, been resilient. As long-term investors they know the markets will recover all lost ground. They also know that, as far as the markets go, there is now little downside and considerable upside. The difficult bit is that the economy has yet to feel the pain already borne by the stock market.

TS: How is First Samuel performing compared with other investment managers in the market?

ZH: Our clients have suffered less than others, if I can put it that way. We’ve comfortably out-performed in a shocking market. But you have to compare apples with apples. Each of our clients has different investment objectives and different asset mixes, so it is often difficult to compare performance.

What I can say is that if you took our Australian share performance alone, you would find us in the top decile of Australian managers over all time periods: one, three, five and seven years.

TS: What does First Samuel offer to clients that is more appropriate than other organisations?

AS: Simply, an integrated service of tailored strategic advice, individual investment management and comprehensive administration. And with a strong ethical overlay, for example we do not pay or receive commissions. So, you see that we have reverted to the old European private bank model. Our clients are those who perhaps do not have the time, interest or ability to manage their own wealth.

‘We’ve comfortably out-performed in a shocking market. But you have to compare apples with apples. Each of our clients has different investment objectives and different asset mixes, so it is often difficult to compare performance.’

TS: Where to for First Samuel in 2009?

ZH: We shall be an active participant in OSCA activities where possible and a visible presence wherever our support is warranted. Rest assured that my face will ‘pop up’ (as will my name badge!) at a number of OSCA functions – I hope that OSCA members feel comfortable approaching me to talk to us further about First Samuel’s services.

TS: And for OSCA members?

AS: Obviously, OSCA members should contact us. The last 12 months may have given many members cause to question their existing wealth management arrangements. And if so, then action should be taken. GS