ShareSoc Director Spotlight – Amit Vedhara

What inspired you to join ShareSoc’s board and what motivates you to represent UK private investors?

I came across ShareSoc when looking to give back to society in some way, and while exploring an extra charity trustee or NED roles, former ShareSoc Director Chris Spencer-Phillips tapped me up. Immediately intrigued, I recognised the potential impact ShareSoc could have, especially when fighting on behalf of ALL investors. And given my success in growing lots of companies, by the opportunity for it to substantially grow both its own membership and its market influence – levelling the currently uneven playing field between institutional and private investors. Potential that we are now really delivering on, having won a seat on the government’s DEMAT Taskforce for Shareholder Rights, representing ALL private investors. 

I’ve had a near lifelong interest in investing. Buying shares even before I was legally old enough. The only newspaper my father bought was the FT, so as a kid just to see what was on TV, I had to read it. Gradually, that led to me learning about shares and investing, companies, the markets and business in general, even leading to me taking A Level economics and training as an economist at university. As a teenager in the 1980s, via my parents (no Junior ISAs in those days), I built some early capital in the waves of UK privatisations from BAE to BT. But like many people at the time, I didn’t know enough to stay fully invested, reinvest dividends, and get rich slowly through the magic of compounding. Now I’m older, and hopefully wiser, I’m a huge advocate in the need for universal and deep financial education, starting at school, but with provision for all ages, genders and life stages. The UK would be a lot wealthier and more dynamic if everyone had that basic knowledge. 

ShareSoc is led by volunteer directors, how do you think this shapes the organisation’s values and campaigns?

ShareSoc is akin to a charitable endeavour. We don’t do this for self-interest or to make money, in fact, most of our campaigns against  malfeasance or poor governance have been led by Directors who have zero financial interest in the relevant company or fund. A prime example is Woodford, where none of us were investee participants. That fact means we bring no bias, only empathy and expertise to scandals and investing debacles perpetrated by ‘bad actors’. The late and sorely missed Director Mark Bentley selflessly spent hundreds of hours every year on campaigns such as Hartley Pensions that he had no personal financial interest in. That is typical of our values. At times, we are proselytising for better governance, enforceable and appropriate regulation, and proper financial education, for the benefit of all investors, the UK economy, and society in general. 

How have you seen ShareSoc evolve and what’s one insight you’d pass on to newer investors?

ShareSoc’s evolved to become more professional, more expert, now wields more influence, is much more visible, and has a louder voice on behalf of all private investors. It’s both respected and listened to by the UK’s key decision-makers. 

My advice to new investors? Start yesterday! And if not, today.  Start small – open a stocks and shares ISA, set up a direct debit, and at the minimum invest regularly in Tracker funds. Read. Read more. Invest time to understand how and why people invest – it’s your financial security that you’re working towards. Use Investment Simulators and build your confidence and skills before gradually experimenting by picking individual shares – it’s a learning process for everyone. No investor ever knows everything – not even Warren Buffett. 

If I had my time again, I’d start consistently investing as soon as I started earning and put as much as possible every year into my ISA. I’d concentrate on better portfolio allocation between countries, industry sectors, funds, VCTs, bonds, with carefully thought out risk assessments applied to each part of my pot. Because I was busy for many years and time-poor due to career and family responsibilities, I should have taken more of a hands-off approach. Putting the bulk of my investments in low cost/lower risk index trackers and ETFs,  with lots more money in a diversified set of Investment Trusts, invested in growth sectors/regions and only put sub 5%, by value, into higher risk March punts. Oh, and be more emotionally resilient – to learn to either stay invested during market crises, or use a stop/loss strategy, instead of ‘hang on and hope’ when the odd share went seriously south. And finally, I wished I’d known more about how I could keep most of my easy-access cash savings in Gilts (CGT free), instead of being fleeced by low interest bank accounts. 

How is ShareSoc appealing to younger and newer investors?

We’ve always represented investors of all ages, from teens learning the ropes, to those in mid-life starting to manage their funds more carefully and retirees looking after their savings/investments. We are a community that supports every investor, that provides in-person and virtual learning opportunities and is there for members, if something goes awry. We have a major emphasis on financial education for all, because there is always something to learn for every investor, no matter how experienced. 

We encourage every single investor to join as a member, whether paid or free, even if you only have a pension or a small ISA. To support what we stand for, what we do for all investors and that you recognise the importance of investing for your own financial security but also for the continued success and health of the UK economy.