Although Guernsey’s client base is truly international with many clients possibly having no UK nexus, the island’s fiduciary industry still regards London as the premier hub for international private wealth advice, making the City the ideal location for the first-ever Guernsey Private Wealth Forum, hosted by Guernsey Finance.
Alasdair McLaren, Guernsey Association of Trustees (GAT) Committee Member, immediate past chair of STEP Guernsey and Director said the general mood amongst practitioners was very positive.
The client base for Guernsey practitioners continues to be driven by succession and estate planning and asset protection for international families. We’ve also seen a growth in corporate fiduciary work.
STEP Guernsey Chair Adele Perrot, said a number of consultations in recent years had moved the industry forward in terms of regulatory reform, including the introduction of a privately-held beneficial ownership register and ongoing refinements to the supervisory laws.
As a result of its secure and stable government, its sophisticated anti-money laundering regulations, neutral tax regime and erudite legal system, Guernsey continues to attract new and complex private clients to add to its vibrant and diverse offering. We expect Guernsey to continue to evolve by creating superior solutions for the private wealth sector in the face of ever-pressing overseas regulatory and economic developments.