Citywealth Leaders List, 60 seconds interview – Andrew Faulkes, Faulkes Consulting, Monaco
This week’s 60-second Citywealth Leaders List interview is dedicated to Andrew Faulkes, Founder at Faulkes Consulting, Monaco.
Tell Citywealth readers a bit about your role.
I wear a few hats under the umbrella of being an independent adviser, based in Monaco, to UHNW and international families, including acting as a consultant to the renowned offshore law firm, Ogier. I have been lucky in my career to have worked in professional services (I’m a UK-qualified Chartered Tax Adviser), global private banking and international fiduciary/corporate services, so I can harness what I’ve learnt from all these disciplines for clients when advising them strategically and helping them to execute planning.
What does a typical day look like for you?
Not necessarily in this order but might include: check overnight emails with first coffee (preferably sitting on the balcony, getting a bit of sunlight), deal with admin, consider client requirements and matters on hand, consider and plan BD activity, draft reports/hold calls etc, have coffee or occasionally a light lunch with a client or intermediary contact, try to do (some of) The Times’ crosswords, go to a pilates class or the gym, read a bit – news, New Scientist or a book. I listen to music (all sorts) every day.
Tell us about some recent, interesting client instructions/requests you have received.
Being based in Monaco, I meet a lot of prospective clients considering relocation to the Principality (especially at the moment!). As well as the – sometimes challenging – processes of getting visas and residence permits and managing the tax residency positions, this often also throws up complicated cross border estate, tax and succession planning issues to solve. Which is the fun bit, of course!
What challenges do your clients face and how are you helping your clients to overcome them?
I think that for many international clients, their ability, capacity, and willingness to operate on a global basis can be much greater and faster than the legal systems, regulatory frameworks and other components of the ‘ecosystem’ readily allows for, especially as those components can be incompatible with one another or not ‘talk’ to each other. As part of my project management for clients, I do my best to help them with the frustrations caused by this, by anticipating the pinch points and lining up relevant service providers to help in relevant jurisdictions who are also of a problem-solving mindset. Having the relationship with Ogier is a tremendous boon in this regard, as they are represented by fantastic teams in many key locations.
What is your proudest professional achievement?
I am privileged to have had many career highlights; getting deals over the line or winning out in contentious matters is always satisfying, for example. Perhaps if I were to single anything out it would be attaining my first partnership role – at Smith & Williamson something like 28 years ago!
What do you consider to be the most important attributes for a leader?
I would say being authentic, principled, compassionate but knowing when to stand firm, approachable and actually making time for people, having a good understanding of how the business works ‘in the weeds’ to inform strategic thinking, and never fighting shy of rolling up sleeves when needed.
Who do you most admire and why?
So difficult to choose! But I’m going with Albert Einstein, not only for the sheer brilliance of his scientific insights but also for his incredible humanity.
Where was the last place you travelled to for work or pleasure?
UK – for both
If you weren’t in this industry, what else might you be doing?
It’s hard to conceive of not being in the private client industry in some guise but if I could sing (at all) or play an instrument (a lot better than I can) then maybe I could have been a rock star!
How do you relax after a long day?
A nice evening in with my partner Lorraine.
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Read more:
Monaco-based UHNW and family office specialist joins Ogier’s award-winning private client team
Key Takeaways
- The interview features Andrew Faulkes, an independent adviser in Monaco, specialising in UHNW family consulting.
- Faulkes navigates complex client issues including relocation, visas, and cross-border estate planning.
- He emphasises the importance of authentic leadership and personal connection in his role.
- Faulkes admires Albert Einstein for his brilliance and humanity, reflecting on personal inspirations.
- In his downtime, Faulkes enjoys relaxing evenings with his partner and considers a potential rock star career if musically inclined.
Estimated reading time: 4 minutes
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