Prando's Asset Management - Induced to tears

The chairman contemplates a world without corporate hospitality

Julian Marr
clock • 3 min read

"Do you realise you may have broken our compliance process?" asked the chairman of the improbably-sized investment company Prandeamus Asset Management when I dropped by to see him this week. "Delighted to hear it," I said. "How exactly?"

"By inviting me to the Test match the other day," he explained. "Very decent of you, of course - but, administratively speaking, hugely painful." "But why?" I asked. "It was just a £55 ticket" "Shhh," hissed the chairman, his eyes darting nervously around his office. "I think you'll find it was £49.99," he said more loudly - speaking not in my direction but towards the smoke alarm in the ceiling." "Sure ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers notice growing client demand for bespoke investments

Advisers notice growing client demand for bespoke investments

Want access to ETFs, investment trusts, equities, bonds and AIM shares

Isabel Baxter
clock 17 April 2025 • 2 min read
FCA outlines final CCI ruling timeline as it brings out second consultation

FCA outlines final CCI ruling timeline as it brings out second consultation

'Detailed engagement' to continue

Eve Maddock-Jones
clock 16 April 2025 • 3 min read
Talking with… Rathbones Asset Management's James Thomson

Talking with… Rathbones Asset Management's James Thomson

The series continues as Richard Romer-Lee chats to James Thomson

Richard Romer-Lee
clock 14 April 2025 • 4 min read