I hate to break it to you, but just because something is complicated doesn’t mean it’s valuable.

In fact, when it comes to most things in life - especially money - simple is often better.

In today’s world, particularly in finance, complexity is often mistaken for expertise, value, or even superiority.

But the truth is, managing your money doesn’t have to be complicated. Investing doesn’t need to be complex. In fact, the simplest strategies often deliver the best results.

Let me show you what I mean with the story of one man who proves it better than anyone else.

One Man. $64 Billion. One Simple Philosophy.

Meet Steve Edmundson, the Chief Investment Officer of the Nevada State Public Employees’ Retirement System. He’s in charge of managing the $64 billion pension fund for Nevada’s government workers.

And the team responsible for managing those tens of billions?

For years, it was a one-man show - just Edmundson, flying solo.

That’s right - one person overseeing tens of billions in retirement savings. From contributions and withdrawals to portfolio performance, it was all under his watch.

Edmundson managed the entire fund single-handedly until 2021, when a Deputy Investment Officer was brought on - not to overhaul the strategy, but simply to ensure continuity in case Edmundson was unavailable. In essence, the deputy’s job is to keep things running smoothly by continuing to do… not much at all.

When Edmundson stepped into the CIO role back in 2012, the fund was bloated, overly complex, and expensive to run. His solution? Strip it all back.

He fired 10 external managers and, by 2015, had shifted the entire portfolio - stocks and bonds - into index funds.

The Simple Formula:

Edmundson’s strategy is built on a no-frills, long-term approach:

• Global equities

• A modest allocation to global bonds

• Some cash for liquidity

And that’s it. No endless strategy changes, no trendy investments. Just a simple mission: keep costs low, invest for the long haul, and stay disciplined.

Minimal Action, Maximum Returns

Edmundson is a firm believer in restraint. He avoids over-trading, tunes out market noise, and relies on low-cost index funds to do the heavy lifting.

And the results? They speak for themselves.

His “do-nothing” approach has outperformed 90% of U.S. pension funds with more than $1 billion in assets over the past five and ten years, according to Callan Associates.

The Illusion of Complexity

I’ve seen this illusion of value in action. In fact, I see it all the time.

A client once came to me with a thick report from his previous adviser - packed with jargon, dense charts, and data that, frankly, made zero sense to him. And it was just a load of irrelevant noise.

It was an unnecessarily complicated document, clearly designed to justify moving his pension into a ridiculously complex web of funds.

I asked him, “Do you understand any of this? Do you know why your pension was moved? Do you understand what you're invested in?”

He shook his head.

But because the report looked professional and the fees were sky-high, he assumed he must be getting premium advice. It’s a common trap: confusing complexity with quality.

We moved his pension into a simple, low-cost investment strategy - one that had actually outperformed the overly complicated setup he was in. For the first time, he understood where his money was, why it was there, and how the strategy worked. 

Look, what’s the point of advice if you can’t understand it?

If your adviser hides behind jargon and over-complicates things, that’s not a sign of brilliance. It’s a red flag. If they can’t explain it to you simply, chances are… they don’t really get it themselves.

Too many advisers overcomplicate things to justify high fees - often at the client’s expense. Not only is that wrong, it’s unethical.

I Could Give You Endless Examples

One client came to me after paying his adviser around £10,000 a year - only to realise he wasn’t actually getting much value. He was in about 20 different funds, received glossy quarterly updates, and the portfolio was constantly being tweaked. On the surface, it looked like a lot was happening. But when we dug into the numbers?

Not much was actually being achieved.

This is the illusion of activity: constant switching and overcomplicated portfolios that make it look like the adviser is earning their keep. But in reality, it’s often just smoke and mirrors - a way to justify high fees without delivering meaningful results.

When we compared his portfolio to a simple, low-cost strategy, the expensive, hyperactive one had underperformed.

Fund-Switching is Not Real Financial Advice

This whole fund-switching game isn’t even real financial advice. Investment strategy is only a small part of the bigger picture. True financial advice means crafting a plan that’s tailored to your unique life, keeping you focused on your goals, helping you minimise taxes, planning for a comfortable retirement, and guiding you through all the financial noise. That’s where the value lies.

£10,000 a year for flashy fund flipping and no actual advice? To me, that’s pure daylight robbery.

Unfortunately, this type of thing happens way too often in the industry. I know I’m veering off course a bit here, but it genuinely frustrates me. That’s not financial advice.

The More You Trade, the More You Pay

Here’s the truth: the more you trade, the more you pay in fees - and studies show that passive investing tends to outperform active management in the long run.

Unfortunately, many investors are led to believe that complexity equals success. But often, they’re paying more for less.

The Simplicity Revolution: John Bogle

In the 1970s, John Bogle saw through the noise and revolutionised investing. He founded Vanguard and launched the first-ever index fund for individual investors - the Vanguard 500 Index Fund.

His message was simple:

• Buy a low-cost index fund

• Hold it for the long term

• Ignore the market hype

Bogle famously said, “Don’t look for the needle in the haystack. Just buy the haystack.”

That one idea reshaped investing and has helped millions build wealth more efficiently.

Perception vs. Reality

It's easy to think that expensive or complicated means better. We assume:

• Expensive = better

• Complicated = smarter

• More activity = more results

But real value isn’t about appearances; it’s about outcomes. It’s about understanding what you’re paying for and whether it’s truly delivering.

When it comes to your finances, simple doesn’t mean basic.

It means efficient, cost-effective, and understandable.

Final Thought

So, ask yourself:

• Do I really know what I’m paying for?

• Is all this complexity actually helping me - or is it just justifying a fee?

• Will simplifying it all make it better?

Most of the time, the best strategy isn’t doing more - it’s doing less and with more clarity.

Because when it comes to building wealth, simplicity really can be powerful.