International Women in Wealth five minute interview: Karen Marks, partner, Maitland
What signature taxation, laws, trusts or investments do you think really work for uhnw clients and why?
Despite the various changes, the UK remittance basis system works for non -UK domiciled clients provided they plan properly.
Are there any private clients in the world you would really like to work with?
I enjoy working with people and helping to find solutions for their holding and passing down of wealth – I can’t say that there is anyone in particular I would like to work with.
Are women really going to take over the world, if so how?
They already have, haven’t they?
What is the most interesting or unusual private client deal you have ever been involved with?
Structuring a very important and valuable art collection.
What lessons have you learned that you could share with women starting out in the finance industry?
Be flexible. The path you start on is not necessarily the route you will ultimately follow all the way to your destination. I had a previous career completed unconnected to finance before becoming a lawyer and I have changed my specialism within the law so I am proof.
What initiatives do you have or do you think there should be for women?
An approach that embraces diversity – not just for women.
If you had to win a wealthy new client where would you take them to impress them?
I would not take a prospective client anywhere in the aim of winning their business – I find that most clients are looking for sound advice from an adviser they can trust rather than expensive meals out.
What are your three USP’s for working with uhnw clients?
Listen, understand but remain yourself
What is the best thing that has ever been said about you or you have done or won?
Being listed in the Citywealth leaders’ lists.
What is your individual focus in terms of countries and uhnw clients?
We are seeing more clients from the BRIC countries and beyond.
How much do you travel on business and where do you tend to go?
Probably around 2/3 days a month – mostly within Europe .
What is the next big thing in private wealth management?
In the current economic climate, hedging and minimising risk.
Should you dress the part?
If you are a professional adviser, clients expect you to look professional – that still leaves scope for individuality.
What would you tell a divorcing woman in the UK, whether she was British or International, and why?
Get a good divorce lawyer!
Is the glass ceiling still with us?
Personally I don’t think it is.
What charities do you admire and why?
Charitable work is so important – I admire charities that support carers and educational initiatives particularly with disadvantaged children.
What is the dummies guide to making it to the top in finance or pwm?