TAMRIS believes that the management of financial assets and needs is a great responsibility.
In1988, following the market crash of 1987 Andrew Teasdale saw the need for a medium that integrated the considerable expertise that existed within the financial services industry with the management of the financial needs of the individual. Over the course of the next two years he spent time researching the basic fundamentals and physics of assets and asset risks over time.
Failing to get interest within the industry to develop his ideas he started, what is now, the TAMRIS Consultancy in March 1990 to develop the systems and business processes of the future.
The TAMRIS Consultancy was set up in direct response to concerns that the financial services industry was unable to structure, plan and manage assets to meet financial needs over individualís lifetimes and that the ability to do so was prevented by natural conflicts of interest in the industry.
The three main concerns at the time were as follows.
Stock market crashes had a major impact on investorsí financial security, yet they are natural risks and portfolios should be designed to manage them.
Traditional approaches to portfolio structure could not manage the longer term complex relationships between assets and liabilities.
There was no disciplined, structured framework through which asset management expertise could be delivered to the management of the individualís portfolio.
To date the conflicts of interests and the weaknesses that compromised the quality and cost of service remains. Just why this remains the case is why the TAMRIS Consultancy is now working on the side of the individual investor.
Information on the development of TAMRIS processes and systems can be found in the following documents.
Portfolio Problems, R&D, Systems Development
Development of Integrated Systems
It must be noted that breaking the mould and changing the way things are done is not an easy task.
Most of our brains are programmed to accept a given way of doing things. Most resist change because it brings to an end a way of life.
To initiate change on a large scale we often have to be able to envision very complex problems.
The history of TAMRIS is about the conflict of the old versus the new and the ability of the world to understand and accept the need for change.
The barriers to change within the financial serviceís industry are significant.
It should be possible to deliver total asset and wealth management solutions for a fraction of the current cost of providing today's wealth and asset management services.
It should be possible to deliver a far higher level of service, better quality asset management and total portfolio personalisation at the push of a button.
Yet, the industry is sticking to its old distribution models, its old remuneration methods, existing divisions of responsibility, its old service processes and is holding to portfolio theories that bear no relationship to the management of personal financial needs.
The industry is overstaffed, over paid, undereducated and its conflicts of interest are institutionalised. Above all, the industry lacks a vision and a unifying fundamental theory of asset and wealth management.