Q&A: Colin McLean, managing director of SVM Asset Management's tips to success

Here's the first in a series of Q&A articles with senior professionals working in financial services in Scotland. Colin McLean, managing director of SVM Asset Management, has answered our questions below:

1) How long have you been working in financial services?

I joined a life assurer as an actuarial trainee in 1974, before moving into investment two years later - so 37 years in total.

2) Has your career path been conventional or capricious?

My first choice of job was almost accidental, because I was wearing a suit that day for a civil service interview, and as a student thought I might as well fix up another while I was dressed up. It gave me an entry into investment once I had passed exams, but I did realise I would need to move to make progress. My move to head of investment at a larger life assurer was not the best one, but it did open the door to getting a job heading up Templeton's European business, which was a great opportunity. That was the ideal stepping stone into setting up my own business, which had been my main aim. But, I think I could have got there by an easier path.

3) What matters most: talent or hard work?

Undoubtedly, hard work is what lets people progress. Not just hours spent and a willingness to be flexible and travel, but studying too. Early on, professional exams show a commitment, but ultimately effort and other skills learned along the way matter more than qualifications.

4) What would you always advise people to do before they step into an interview with you?

They should relax. Candidates need to get their personality over as much as their capabilities. Checking out the firm's website or Googling it might seem obvious, but surprisingly a few fail at this hurdle.

5) What do you know now about working in fund management that you wish you'd known 15 years ago?

I wish I had known how big a thing psychology would turn out to be in our industry - it is not just numbers. More knowledge of behavioural finance would have given an edge. Being resilient in a cyclical industry also matters to everyone looking for a long term career.

6) You are only allowed to hire one person over the next six months. Can you describe their ideal profile?

We would need someone who can hit the ground running, and with a track record evidencing ability even if the career path has been unusual. An ability to think unconventionally matters.

7) In no more than three sentences, can say what your business area will look like in 2015?

Competition and regulation are increasing, but talented funds and individuals should still win business and be able to resist downward pressure on fees. More will be working within global products, but I suspect fewer will be employed in conventional equity management. There will be even higher professional standards.

8) I want to work for you. What will persuade you to hire me?

A candidate should have personal goals and ambition. Flexibility in approach also matters. In a boutique, the team fit is important. Evidence of hard work and enterprise is key.