Citywealth Leaders List, 60 seconds interview – Tom Jonason, Weatherbys Private Bank

Date: 15 Oct 2025

Karen Jones

This week’s 60-second Citywealth Leaders List interview is dedicated to Tom Jonason, Private Banker at Weatherbys Private Bank.

Tell Citywealth readers a bit about your role.

I am a Private Banker with Weatherbys Private Bank. I look after a portfolio of high net worth private clients with a range of requirements. Some just bank with us but many require advice as well; I am a Chartered Investment Adviser and qualified to provide regulated mortgage advice. Weatherbys majors on a responsive personal service and that is at the heart of everything I do.

What does a typical day look like for you?

I’m not sure there is one! But the day usually begins plugged into the ‘FT News Briefing’ podcast to give me a shot of news whilst mucking out my daughter’s pony at our home in Lincolnshire. The podcasts change to a combination of ‘The Rest is Money,’ ‘The Rest is Politics’ or ‘Nick Luck Daily’ (for my horseracing fix) while I’m on my commute to our office in Mayfair. I’m at my desk by 8am to prepare for the in-person meetings that lay ahead.

When I’m not in the office, I’m often meeting clients at home. There’s nothing more powerful or reassuring than genuine human relationships.

Tell us about some recent, interesting client instructions/requests you have received.

A lot of clients have their eye on the budget. Some are minded to wait and see what happens but many others have asked about being more proactive. We don’t think it’s wise to make significant financial decisions based on speculation about what the Chancellor may or may not do. I’ve been asked about which bit of tax legislation we think is most likely to be changed but at this stage even the Chancellor may not know for sure! If clients are planning to do something anyway, such as sell assets in an investment portfolio thereby realising a gain subject to CGT, there might be some rationale in bringing the transaction forward ahead of the budget but I would caution against making decisions based on a frenzy of press speculation.

What challenges do your clients face and how are you helping your clients to overcome them?

Sometimes our clients need to borrow – it may be for a second home, a boat or a racehorse. Or to help their children. Liquidity can be an issue. It can often be better to borrow money than dispose of assets quickly and in a tax-inefficient way. It’s not uncommon for high value or complex borrowing requests to come across my desk, with unusual assets as collateral. I think it helps that we know our clients well and can fairly quickly work out a strategy that works for them. You don’t get that with retail banks. It’s refreshing for clients, but it’s empowering for me too and makes the job much more satisfying than just saying: “The computer says ‘No!’”

A constant question I get is: “How much is enough?” The tax regime is encouraging lots of people to think about bringing forward intergenerational wealth transfer. But clients need to work out what they need themselves first. With the assistance of an exceptional team of financial planners some sophisticated technology and our tax and investment experts, we can help people with this tough question and then work out how best to handle the rest.

What is your proudest professional achievement?

Prior to a life in finance I worked in the horseracing industry as assistant trainer to Champion Trainer (at the time) Paul Nicholls OBE. Having been on an entirely different career path in my 20s, I suppose my proudest achievement is making a successful transition to this life and making the most of those ‘transferable skills’ people talk about! It’s taken determination and hard work, and I hope my proudest achievements still lie ahead!

What do you consider to be the most important attributes for a leader?

Empathy and positivity. Any leader should know the end goal but it’s how you motivate the people around you to pull in the same direction that counts. Good leadership isn’t about control, it’s about influence. A good leader makes you feel heard and when you feel heard you are more likely to follow and support out of choice.

Who do you most admire and why?

My wife Chloe switched careers at 30 and followed her passion for design and interiors by starting her own business, Chloe Jonason & Co. She sells handmade and sustainable homeware, that’s good for the planet and supports other skilled craftswomen and men. The business is growing well and – most impressively – she’s doing all this whilst remaining flexible and accessible to our two children, who are 5 and 7. I find her values and commitment really inspiring.

Where was the last place you travelled to for work or pleasure?

My wife and I recently celebrated our 10th wedding anniversary in Stockholm, which was an amazing trip. Professionally however, I am looking forward to taking a handful of clients who share my love of racing to spend a morning with my old boss Paul Nicholls at his Somerset base next month.

If you weren’t in this industry, what else might you be doing?

I’ve had my sliding doors moment! Without doubt I would be training racehorses. Most trainers I meet tell me I have made the right decision!

How do you relax after a long day?

I often cycle home from work which shoehorns some exercise into my day. I enjoy the pure focus of exercise. If I’m home in time I enjoy reading stories to my children. We are reading Secret Seven at the moment and that sure beats emails.

If you could recommend one person in the private wealth industry who would it be, and what would you say about them?

Call me biased but I would recommend Nathan Valbonesi, Head of the Investment & Wealth Advice Service at Weatherbys. It’s enjoyable to be in a meeting with Nathan as there is an inevitable moment where you see the client realise they are in the right place. It’s always a pleasure to witness.

Earlier in the year Nathan undertook the CISI level 7 Financial Planning qualification and now has Certified Financial Planner (CFP) status. That makes him probably the most qualified planner in the country. But what’s impressive is that he received the highest mark of his year and was asked to join the CISI exam panel. Now that’s what I call passing an exam!

Weatherbys’ Citywealth Leaders List profile

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