Our Story

Waugh McDonald Wealth Management has established itself as a premier wealth advisory firm within East Africa, with deep roots in Kenya's unique wealth landscape.

What began as a boutique practice focused on a select clientele has evolved into a comprehensive wealth management firm capable of addressing complex financial challenges across market segments. This evolution has been guided by several principles:

Unwavering quality standards regardless of client segment
Strategic technological integration enabling scalability without compromising service
Global perspective with local relevance through carefully selected partnerships
Continuous professional development ensuring currency with best practices

Our Strategic partnership with Morningstar Wealth—the first of its kind in Africa—represents a significant milestone in this evolution, providing our clients with access to capabilities previously unavailable in the region.

Finding a trusted advisor can be daunting. That's why our clients rely on our world-class expertise and highly personalised service, founded on competence, reliability and transparency. We're committed to safeguarding their wealth as a trusted partner in navigating the complexities of wealth management.

Our Approach

Waugh McDonald operates under dual governance frameworks: first, compliance with Kenya's Capital Markets Authority regulations (License No. 103), and second, adherence to ethics and international best practices in wealth management informed by our principals' membership in leading professional bodies including the Family Firm Institute (FFI) and the Chartered Institute for Securities and Investment (CISI).

This dual structure ensures clients receive advice that is both locally relevant and globally informed, underpinned by the highest ethical standards and professional practices in the industry.

Our Leadership

Our principals hold Chartered MCSI designation as Chartered Members of the Chartered Institute for Securities and Investments, along with both CFWA (Certified Family Wealth Advisor) and CFBA (Certified Family Business Advisor) certifications from the Family Firm Institute, placing them among the most highly qualified advisors in the industry.

These elite credentials demonstrate mastery of family governance structures and sophisticated investment frameworks respectively—qualifications held by only a select few practitioners globally.

Strategic Partnership

Our exclusive strategic partnership with Morningstar Wealth marks a significant milestone in our commitment to delivering world-class wealth management services in Kenya. This landmark collaboration, the first of its kind between Morningstar and a wealth management office in Africa, enhances our ability to provide sophisticated, holistic solutions to our clients.

Enhanced Capabilities

Through this partnership, we gain access to an array of advanced advisor solutions, including:

Cutting-edge practice management systems
Comprehensive institutional-grade fund platform
Expert investment management resources

Discretionary Portfolio Management

A key benefit of this alliance is the discretionary management of the Waugh McDonald Portfolios by Morningstar Investment Management (Europe). This ensures our clients benefit from:

Top-tier wealth management strategies on a global scale
A track record of exceptional performance
Competitive costs aligned with our commitment to delivering value

Upgraded Reporting and Service Levels

The partnership has enabled us to implement an upgraded practice management system, resulting in:

Enhanced reporting capabilities
Elevated service levels for our clients
Seamless integration of world-class solutions into our existing framework

Global Expertise, Local Understanding

By combining Morningstar's global research capabilities with our deep understanding of Kenya, we offer our clients:

Unique insights tailored to local needs
Access to world-class investment strategies
A competitive edge in wealth management that bridges international best practices with local expertise

This strategic alliance with Morningstar Wealth reaffirms our dedication to excellence and positions us at the forefront of wealth management in Kenya and across Africa. It enables us to deliver an integrated wealth management service that truly stands as a testament to world-class standards.

The Principals

Richard Waugh Chartered MCSI, CFWA, CFBA

Richard brings operational excellence to his role as Managing Director at Waugh McDonald Wealth Management. A Chartered Member of the Chartered Institute for Securities and Investments (Chartered MCSI), Certified Family Wealth Advisor (CFWA) and Certified Family Business Advisor (CFBA), he has earned widespread respect for his ability to discern the optimal path forward in complex scenarios.

Known for his efficiency, meticulous attention to detail, and unwavering dependability, Richard oversees the implementation of sophisticated structures and systems that uphold our rigorous professional standards. His expertise ensures our operations consistently deliver the excellence our clients have come to trust.

Richard is held in high regard within the community, our practice, and by our clients alike. His commitment to operational excellence provides the foundation upon which our client relationships thrive.

When not enhancing our service capabilities, Richard enjoys family time, playing golf and contributing his expertise to numerous charitable organisations.

John McDonald Chartered MCSI, CFWA, CFBA

John brings visionary leadership and systems thinking to his role at Waugh McDonald Wealth Management. As a Chartered Member of the Chartered Institute for Securities and Investments (Chartered MCSI), Certified Family Wealth Advisor (CFWA) and Certified Family Business Advisor (CFBA), he consistently introduces progressive ideas that position our practice at the forefront of wealth management practice.

Known for his modernistic approach and keen foresight, John drives the conceptual development of our practice, ensuring we remain responsive to the evolving needs of sophisticated clients. He excels at helping families navigate complex wealth challenges through carefully structured frameworks that align with proven practices, their unique values and objectives.

John's strategic vision has been instrumental in establishing the high-functioning wealth management systems our clients rely upon for multi-generational success. His forward-thinking perspective continuously enhances our service capabilities while maintaining our commitment to time-tested principles.

Outside the office, John dedicates time to outdoor pursuits with his family, and serves on the board of Forever Wild, a charitable initiative focused on developing systems to protect large scale wilderness landscapes.

Data Security and Protection

We take every aspect of our business seriously, including adherence to global best practices for data security. We've implemented enterprise-grade security protocols including enhanced Microsoft 365 security features coupled with Swiss server infrastructure for data storage, ensuring your sensitive information is protected by both cutting-edge technology and Switzerland's stringent data protection laws.

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Blue Company Certified

Waugh McDonald Wealth Management is proudly certified as a Blue Company, demonstrating our commitment to ethical business practices and anti-corruption measures. The Blue Company project is an initiative of volunteer corporations and institutions dedicated to promoting the public interest by fighting corruption in all its forms.

Our certification signifies our pledge to:

Maintain a zero-tolerance policy on bribery and corruption
Ensure transparency in all business transactions, gifts, and donations
Uphold a workplace free from favouritism based on tribe, gender, religion, or any other factor

As a Blue Company, we contribute to reducing the cost of doing business, promoting economic development, and creating a more equitable business environment in Kenya and beyond.

British Chamber of Commerce Kenya

Waugh McDonald Wealth Management is recognised on the British Chamber of Commerce Integrity Index, reflecting our dedication to the highest standards of business ethics and corporate governance.

This recognition acknowledges our commitment to:

Transparent financial practices and ethical conduct
Maintaining trust and integrity in all client relationships
Upholding international best practices in wealth management

Our inclusion in this respected index serves as independent validation of the ethical values that guide every aspect of our operations, providing clients with additional assurance of our unwavering commitment to professional integrity.