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Waugh McDonald

 Client Service Charter

This sets out our ethos, approach and service standards. It explains what you can expect from working with Waugh McDonald Wealth Management (WMWM), what is included in our core service, what sits outside scope and how we keep your plan aligned over time. 

Our Ethos and What We Do

We believe wealth is about more than money. It is about understanding what matters most to you, creating a plan that reflects your values and aspirations and maintaining the discipline to stay on track. When you focus on what is important, align your capital with your goals and follow a clear process, you achieve better outcomes and a better life. 


We believe that true wealth is measured not just by financial outcomes, but by the ability to support what matters most to you and your family. 


We make wealth management simple, durable and grounded in values. Our integrated approach brings together planning, investment management, structuring and ongoing advice. We start with your life goals, then build a plan that is clear, actionable and resilient. Our portfolios are risk-aligned and built to compound over the long-term. We use institutional platforms for custody and reporting and maintain a disciplined review rhythm. Every decision is documented for clarity and continuity. 

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Our outcomes for you:  

  • A written plan linking capital to goals and timelines  

  • A liquidity ladder to protect outgoings through cycles  

  • Risk-aligned portfolios built for your time horizons  

  • Clean structure and reporting for full visibility  

  • A review cadence that reduces noise and keeps everyone aligned  

Our Investment Philosophy

We focus on long-term thinking, clarity and evidence-based decisions. Real performance comes from staying invested through cycles, not chasing trends. Our portfolios are globally diversified, cost-aware and managed with discipline. 


We are agnostic on active versus passive management. Our portfolios are a blend of both approaches, selected to suit your goals, risk profile and market conditions. We select active and passive strategies based on evidence, cost and suitability for your goals, ensuring your portfolio is resilient and positioned for long-term success. 


We do not recommend private placements, opaque products or illiquid investments. We prioritise transparency, liquidity and suitability. 


We partner with Morningstar Wealth, whose global team brings decades of experience and a robust, repeatable process. This strategic partnership is the first of its kind in Africa and is reserved for a select group of high-quality advisory firms globally. Morningstar’s principles, investor-first, independent thinking, valuation-driven decisions and disciplined construction align with our own. This partnership provides our clients with institutional-grade oversight, global diversification and access to leading investment research and management. 


We believe the cost of real long-term performance is short-term volatility. Our planning and liquidity ladder help you stay invested and avoid emotional decision-making. ​

Behavioural Finance and Client Success

Successful investing is not about intelligence or information alone. Even the most sophisticated investors are susceptible to behavioural biases. There is a proven methodology behind successful investing and our approach is designed to help you benefit from it. 


We recognise that emotional reactions to markets, such as fear during downturns or overconfidence during rallies are natural and can affect anyone. Our planning process, review rhythm and disciplined approach help you avoid common traps like market timing or abandoning your plan in volatile times. 


The real value of advice is helping you stay the course, make rational decisions and focus on what you can control. We anchor your plan to your goals and maintain a clear review process, supporting patience and discipline for long-term success. 

Our Planning and Service Process

We begin with understanding your values and priorities, ensuring that your wealth strategy supports what matters most to you. 

 
Our service is designed to give you clarity, confidence and control. Initial planning and annual reviews are included at no extra cost. 

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Our process includes:  

  • Discovery and fact-finding  

  • Goal mining and planning  

  • Budgeting and cashflow modelling  

  • Risk tolerance and capacity assessment  

  • Strategy and portfolio design  

  • Structuring and account architecture  

  • Investment policy and disciplined rebalancing  

  • Ongoing reporting and reviews  

  • Annual review  

  • Ad hoc support when needed  

  • Compliance and documentation  

 

Client Portal Access: 
You have 24/7 access to your portfolio information, progress reports and quarterly valuations through your secure investor portal. 

What Is Separate from WMWM

Strategic family office services are offered under Waugh McDonald Private Office (WMPO). If engaged, we provide a separate explainer and fixed scope options. 

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Examples of WMPO work:  

  • Family charters, councils and meeting facilitation  

  • Succession, trustee alignment and cross-border structuring  

  • Values-based assessments and shared purpose mapping  

  • Trustee or provider escalations  

  • Independent directors or board observers  

Your Wealth Report

A single view linking people, structures, capital, obligations and intent. 

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Includes:  

  • Cashflow modelling  

  • Family relationships and roles  

  • Entity register  

  • Assets and liabilities  

  • Goals and timelines  

  • Financial inventory  

  • Consolidated balance sheet  

  • Beneficiary map  

  • Risk and readiness profile  

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Why It Matters: 
Keeps meetings focused, supports suitability files and streamlines interactions with platforms, trustees and family members. 

Communication

We protect your time and outcomes:  

  • Email only (not chat apps)  

  • Agendas before meetings  

  • Minutes with actions within 72 hours  

  • Non-urgent response window: 48 to 72 hours  

  • Urgent matters triaged and documented  

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This reduces errors, improves coordination and makes reviews more productive. 

Who Thrives with Our Approach

We work best with clients who value our expertise, trust our process, and are committed to disciplined, long-term planning. Our approach is built for those who want to achieve outstanding outcomes by following a proven, structured path. Partnership and buy-in are essential for success. 

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Our process is designed for clients who want to delegate with confidence, avoid unnecessary complexity, and focus on what truly drives long-term results. We encourage clients to engage with us as partners, respecting our advice, embracing our process and maintaining the discipline required for long-term success. 

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Our service is tailored for those who appreciate structure, consistency and thoughtful planning. It may not be the best fit for individuals who prefer a more reactive or informal approach. Choosing to work with us reflects a shared commitment to doing things the right way, with mutual respect and clarity. 

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Clients who benefit most: 

  • Value policy and process over personality 

  • Are comfortable with written decisions and structured reviews 

  • Prefer transparent, tiered fees 

  • Want to stay invested through cycles using a liquidity buffer 

  • Are willing to share the inputs that make the plan real 

  • Understand that reactive interference undermines long-term outcomes 

Scope Clarity and Staying on Track

We use your plan, Wealth Report and review calendar to stay aligned. 
If requests fall outside our agreed scope, we will discuss options for engaging WMPO or independent specialists, ensuring that all work is properly scoped and priced before proceeding. 

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Included under WMWM:  

  • Initial planning and annual review  

  • Portfolio management and regular reviews  

  • Routine platform coordination  

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Handled under WMPO or by specialists:  

  • Governance facilitation  

  • Trustee or provider escalations  

  • Complex structuring, tax opinions, legal drafting  

Our Platform and Portfolios

General Investment Accounts (GIAs) in Jersey form the foundation of our recommended structure, providing secure, transparent and flexible access to global investment markets. GIAs can be held in your personal name or under an offshore bond, company or trust, depending on your needs and objectives.

 

We maintain clean ownership and straightforward reporting and coordinate with your professional advisers. Where appropriate, we also support establishment of wills, trusts, family investment companies and offshore bonds as part of your overall wealth architecture. 


Our portfolios are globally diversified, valuation-driven, and built for compounding, not market calls. We change the plan when your life changes, not when news cycles move. 

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Regulatory Clarity and Oversight:  

  • Custody: Assets are held with Morningstar Wealth International Limited, regulated by the Jersey Financial Services Commission (JFSC).  

  • Investment Management: Portfolios are managed by Morningstar Investment Management Europe Ltd, authorised and regulated by the UK Financial Conduct Authority (FCA).  

  • Advice: Advice is provided by Waugh McDonald Wealth Management Limited, licensed by the Capital Markets Authority (CMA) of Kenya, Licence No. 103.  

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Our portfolios are professionally managed under regulatory standards to ensure institutional-grade oversight, clear suitability files and a disciplined investment process. 

Privacy and Security

Sensitive materials are handled securely and shared only on a need-to-know basis. We do not use unsecured channels. Key decisions are recorded for continuity. 

Technology, Security and Investment Integrity

Our systems are built on Microsoft 365 Enterprise, integrated with our practice management platform. You have secure portal access, encrypted sharing and audit trails. 


We maintain strict confidentiality and robust data protection protocols. All client information is handled in accordance with applicable data protection laws and industry standards. Access to sensitive materials is restricted to authorised personnel and all data is stored and transmitted using secure, encrypted systems. We regularly review and update our security measures to ensure your privacy and the integrity of your information. 


We do not outsource advice to algorithms. AI integrated into our enterprise-grade system may assist with reporting, but all recommendations are reviewed by your adviser. 

Visual Summary and Onboarding Map

Our onboarding map is a one-page visual guide to your client journey, showing each stage from discovery to ongoing review, so you always know what to expect and how we work together. 

Principals, Company Credentials and Adviser Experience

Waugh McDonald Wealth Management is led by Richard Waugh and John McDonald, both Chartered MCSI (CISI) and Certified Family Wealth Advisers and Certified Family Business Advisers (FFI). They are licensed by the Capital Markets Authority of Kenya and bring decades of experience in financial planning, investment management and family advisory. 


The firm is a Blue Company, listed on the British Chamber of Commerce Integrity Index, and committed to the highest standards of ethical conduct and client care. 


Our strategic partnership with Morningstar Wealth was established following a rigorous due diligence and onboarding process. This partnership is reserved for a very limited number of high-quality advisory firms globally and underlines our commitment to world-class service and outcomes for our clients. 


We operate to the highest fiduciary standards, always putting your interests first. We are committed to continuous improvement, regularly reviewing our processes and standards to ensure world-class service. 

Our Commitment 

We are committed to clarity, confidence, and continuity. Our standards, reporting and review rhythm keep you informed and supported through every market cycle and life stage. 


We believe in partnership, transparency and discipline. If your needs change, your adviser is here to help you navigate new opportunities and challenges. 

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We invite you to review this charter and discuss any questions with us before we begin. Our commitment is to partnership, clarity and your long-term success. 

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Waugh McDonald Wealth Management 
 

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