Embracing the new world of private wealth

Litigation is undoubtedly on the rise because of Covid-19 but also for many other reasons which could range from shareholder activism to crypto losses to trusts and beneficiaries disagreeing which each other. Undoubtedly now is the moment to come together to understand the issues that the private client industry may face. On the 4th of October, following the successful Citywealth Forum held on the 25th of January at The Biltmore Mayfair Hotel in London, Citywealth invites you and your colleagues to listen to thought leaders and to debate the issues of the day.

The forum will be limited in numbers to 100 to enable discussion and networking.

Previously Citywealth debated the new Swiss Trust Law where it was argued it did little but constrain trustees who currently benefit from using law from many different countries. Jersey however has a long-established trust law and felt the merits of the system could not be ignored. As well as this Andy Summers from the LSE put forward his idea of a one-off Wealth Tax – he had thought out his argument, but our advisors fought hard to change his mind and there was an agreement on both sides of the fence that much had been learned to widen the scope of the presentation. David Cracknell, former political editor of the Times helped manage the debate and many references were made about one off tax in the past that became permanent. Questions asked looked at a change to a Labour government in the UK and whether this would make a Wealth Tax more likely. Most thought yes but Cracknell said governments struggle to ‘sell’ new taxes so it was not a given that life would be so easy up against the public or indeed a wall of tax advisors.

Crypto and blockchain and ESG dominated our afternoon segments with a discussion from tax and legal advisors on the taxation of crypto; staking and various lawsuits across the world which are helping shape opinion. As crypto leaks into the private client world it helped raise understanding at a basic level for those who were new to the topic but also raised confidence as a crypto security expert discussed his ability to track and trace bitcoins and to put freezing orders on exchanges. ESG has had a lot of publicity and activist shareholders are more in the limelight as information emerges on how to tackle listed companies who are thought to be acting ‘badly’. How does a company protect themselves; how do disgruntled shareholders get ESG results. Our lawyer and investment manager guest speakers thrashed through examples and case studies to understand how they are advising on this topic which has emerged strongly as a theme after the pandemic.

The Citywealth Forum on 4th October will further discuss these topics and add two more slots on Trust Litigation and Africa UHNW investors. With six educational slots in the day and a beautiful setting at one of the leading five stars hotels in Central London the event will host a lunch for guests and a drinks reception to finish.

For any additional information please contact Calin Lapuste - clapuste@citywealthmag.com

Citywealth Forum

Date: Tuesday, 4 October, 2022

Time: 10:00 AM - 6:30 PM

Venue: TBC

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