The answer to the investment needs of individual clients is very often a multi-asset, multi-fund solution but as those needs increase across the number of clients, multiple generations, their beneficiaries and tax treatments, the level of sophistication in portfolio design also needs to increase.
Trustees work within a very clearly defined mandate although their client probably chooses from one of the following descriptors: Protect my money. Grow my money. Give me an income. They need to consider long-term strategies across the needs of more than one generation, combining the different needs and liabilities of multiple members of the same family or organisation. Add in the need to outsource the investment management to one or more third parties, all within the appropriate tax wrapper.
We set out, along with Standard Life Wealth, to discuss the current backdrop trustees are operating in, what some of their specific investment issues are and potential solutions to them with a number of highly influential Jersey-based trustees. As an independent expert of all things investment and trustee-related, we were joined by Enhance Group MD Barry Hardisty.
