Private wealth: global advisors required
The private wealth market transcends all borders, and their legal advisors have to be prepared to go global.
The intertwined relationship between Latin America and the global economy is never more pronounced than in the private wealth market. Historically, Latin American High Net Worth (HNW) and Ultra High Net Worth (UHNW) clients invest and structure their wealth in foreign jurisdictions due to perceived economic and political stability. However, in the light of global economic instability and the emerging regulatory landscapes, clients face an influx of change which requires ongoing re-evaluation of how to structure their wealth.
Gone are the days when clients could keep a low profile. Amidst the sabre-rattling of the new FATCA/CRS and modified EUDAC frameworks, there is a significant push towards greater transparency in terms of how wealth flows around the globe. Couple this with the latest OECD-led FATF recommendations seeking to expose money laundering, and a shift is noticeable in the way HNW and UHNW clients can conduct their affairs. Some are even pulling their wealth back into their home jurisdictions and making use of the rise in government tax amnesties offered by many Latin American nations.
Private client lawyers have never been ‘just a lawyer’ – they embed themselves into the lives of their clients and add value to their decision-making, understanding every component of their lives and long-term vision. To succeed, private client lawyers require a strong network of peers around the world to fill jurisdictional gaps in their knowledge.
On February 10th to 12th, join the Legal Week Private Client Forum Americas 2016 in Bermuda.
To register click here
