Posted: 15/11/2012
Membership of the Society of Trust and Estate Practitioners (STEP) continues to rise steadily despite the state of the economy, the society's chief executive told the Jersey branch annual conference on Friday 9th November.
Addressing the 170 delegates at the Pomme d'Or Hotel, David Harvey said: ‘Membership is very healthy, showing growth year on year of four to five per cent despite the generally tough conditions in the market.'
Worldwide there are 18,000 STEP members and with a membership of nearly 1,200 the Jersey branch is the largest in the world. Mr Harvey told delegates that having a STEP qualification gave individuals more personal choices as well as adding value to their offering to clients.
The event, which was the branch's 20th, featured a number of prominent speakers on the international conference circuit. These included international trust lawyer Shân Warnock-Smith, QC, who gave an update on trust developments worldwide; Guy Foster, Brewin Dolphin's head of portfolio strategy and Graham Wainer, GAM's global head of private clients and portfolio management, delivered a joint session on the current state of the financial markets; fine arts expert Katja Zigerlig, who is a vice-president within the Chartis insurance group, looked at the growth in art as an investment; and Andrew De La Rosa, a trust lawyer with extensive experience of the Middle East, gave an insight into doing business in the Arab world.
London-based divorce lawyer Camilla Baldwin delivered a resume of current trends in matrimonial law and the division of assets; and, Nicholas le Poidevin, QC, gave a presentation on trust disputes.
The director general of the Jersey Financial Services Commission, John Harris, updated delegates on the pressures facing Jersey's financial services industry. He also took a look at the world's current growth areas in terms of wealth management.
The final session of the day was taken by Dan Mitchell of the American think tank, the Cato Institute. Mr Mitchell delivered his alternative view of ‘Why tax havens are a force for good'.
Tony Pitcher, the chairman of STEP Jersey, said that the all-day conference had been a resounding success. ‘We were delighted to be able to attract so many well-respected speakers to Jersey,' he said. ‘It is important that trust practitioners in the Island gain exposure to high calibre experts such as those who were with us today.'
The STEP conference was sponsored by Collas Crill, Collins Stewart Wealth Management, GAM, Rossbrough Group, Savills and ThatcherMackenzie.