Issue 62 of Businesslife – our 2019 Wealth edition – is now available online.
In this issue, we take a look at the latest trends in wealth management. Two, in particular, stand out: the entrance of the millennial generation into the arena of wealth owners, and a shift towards spending and investing with a conscience.
Over the next 30 years, £1.2trn of wealth will pass from baby boomers to the next generation in the UK alone, according to wealth manager Sanlam. Despite this, those in line for this windfall haven’t even spoken to their parents about their plans for their inheritance. We find out how wealth management advisers can help to facilitate that conversation and enable a smooth transfer of this unprecedented wealth.
When it comes to spending and investing, this new generation of wealth owners is driving a shift towards a more ethical approach. Whether in the area of philanthropy – the subject of our cover feature – or passion assets, wealth managers are seeing an intragenerational shift towards activity that has a societal impact. How will they need to step up to serve this growing demand?
Elsewhere in this issue, we look at:
• The growing wealth management opportunity for the Channel Islands in Africa
• How family offices are evolving to help manage the increasingly complex needs of wealthy dynasties
• Why those with a taste for luxury goods might be feeling the pinch
• Why blockchain is stealing investor attention away from cryptocurrencies.
Eila Madden, Editor-in-Chief of Businesslife, says: “Whatever the trends, Guernsey’s and Jersey’s advantages as well-regulated and politically stable international financial centres mean wealth owners continue to bring their business to the islands.”
This issue’s lead interview is with Sue Fox, HSBC’s new CEO in the Channel Islands and the Isle of Man. Three months into her role, she tells us about her plans for growth, focusing on customer service and creating an inclusive workplace.
• Click here to view the Wealth edition online
The physical version of the magazine will be available from its usual distribution points shortly.