Investors are constantly seeking the best strategies to build wealth, often approaching the challenge with an engineer’s mindset. Last week, this column explored the limitations of an over-optimised worldview, highlighting the importance of embracing randomness and uncertain exploration for unexpected benefits.

Reflecting on this, it becomes apparent that the investing industry frequently adopts a systematic approach to wealth building. The prevailing wisdom suggests that attempting to beat the market is futile, leading many to opt for low-cost tracker funds for consistent returns. Geographical diversification and allocation to bonds are also commonly employed strategies to reduce volatility and minimize risk.

These solutions are practical and effective, mirroring the approach taken by many pension funds. For individuals who lack the time, expertise, or risk tolerance to actively manage their investments, delegating decision-making to professionals can offer peace of mind. In the UK, there is a thriving service industry catering to this demand, providing tailored investment solutions for various needs and preferences.