ISSUE 06
WELCOME FROM DAVID BELL
Welcome to our sixth edition of the PCD Club Digital Magazine. Autumn may have kicked in but while
Immigration with an update specifically
many might be winding down towards
for HNW advisors at the end of the
(dare I mention it) Christmas, we have
month, alongside sponsors Lexis Nexis.
lots of events lined up across the globe
For full details, including profiles of our
before the year is out.
speakers, click here .
Last week saw a sold-out networking
November takes us to launch events
dinner take place in the Isle of Man,
in Cape Town (event details) and
kindly sponsored by Bank Safra J
Singapore (event details) , where we
Sarasin & EER Corporate Services.
are expecting good numbers of guests
Over 120 guests had the opportunity to
from the Channel Islands, UK, Isle of
circulate and meet professionals from
Man, Switzerland and Hong Kong.
a variety of specialisms and locations,
We will also return to Dubai (event
all of whom serve wealthy international
details) and Jersey (event details)
families (view images from event) .
before heading back to London for our last event of 2018 on 29 November
Coming up on 17 October is PCD
(event details) .
Club’s very first Business Development
Masterclass. Held in London, the core of As always, our goal is to make new the conference will be a comprehensive
connections between advisors based in
and interactive workshop on the use
key global financial centres. Take a look
of LinkedIn as a marketing, business
here for galleries and guest lists from
development and client acquisition tool,
other locations for a flavour of how our
but we will also cover complementary
events work, and never hesitate to reach
areas around personal branding and
out with any questions.
reputation management (event details).
David Bell, founding director
Staying in the capital, we look forward
#jointheclub #oneteamonedream
to hosting a panel discussion on UK
#makeithappen
EMAIL DAVID@PCD.CLUB WITH QUESTIONS, COMMENTS OR FEEDBACK 3
DINNER DESTINATIONS
Dinner destinations for 2018
Guernsey Bermuda Jersey Cayman
4
DINNER DESTINATIONS
Isle of Man Glasgow Aberdeen Edinburgh London Manchester Bristol
Zurich Geneva
Hong Kong
Dubai
Singapore
Cape Town
5
WHAT’S HAPPENING
What’s happening?
On Wednesday 19 September, PCD
Hotel, which provided a great setting
Club hosted its first panel event in
for the discussion and cocktail
Geneva on the topic of dealing with
reception. Those attending represented
Entrepreneurs & Exit Planning. The
many of the leading Swiss banks,
event was kindly sponsored by Vistra
law firms and fiduciaries alongside
Group, who are actively involved in
counterparts from London engaged
helping UHNW clients and Family
in dealing with the needs of wealthy
Office scale businesses internationally
clients.
and support the shareholders on their journey.
We were delighted to welcome Ken Chapman, Head of Wealth Planning at The event was attended by over 80
EFG in London to chair the panel. Ken
guests and hosted at Le Richemond
has 25 years’ experience in banking
6
WHAT’S HAPPENING
and personal tax, which he used to
Office in London gave an insight on
discuss the topic with our panel.
how they support entrepreneurs to
Nicolas Delorme gave an insight to
run their business while managing
an entrepreneur’s journey having left
regulation, compliance and other
banking in 2015 to set up a fintech
obligations of trading internationally.
business in the wealth management
While Nicolas noted that start-ups
industry. He spoke on the challenges of
often lack the cash to seek good advice,
navigations, the cost and challenges of
Julius encouraged those advising
setting up in a different jurisdiction and similar businesses to ask for help as building a team to help the enterprise
providers may take a view depending
grow.
on the input required and the people
Aliasghar Kanani focused on some of the key tax issues from a Swiss and
involved in the business. All of the panel noted the increased
international perspective; he often deals mobility of HNW clients between with non-residents using Switzerland
centres like London, Geneva and
as part of a group structure or those
Monaco. Aliasghar noted that the Swiss
manufacturing and exporting from the
residency options are attractive but
country. He advised companies to take
need careful planning for entrepreneurs
good advice, even in early phases when
as the ‘forfait’ route will not be available
cash flow is tight, to avoid tax issues
to those still actively involved in
in the future and to make substantial
business. Nicolas decided to set up
savings. For those with group
his business in Monaco because of a
structures, minimising withholding tax
favourable tax treatment and staff costs
on dividends is an important element
were a third of that in Switzerland with
to consider to maximise post tax
comparable rents.
income. Julius Bozzino from Vistra Private
VIEW UPCOMING EVENTS
VIEW GALLERY
SPOTLIGHT ON
Spotlight on Cape Town have the opportunity to circulate and meet professionals from a variety of specialisms and locations, all of whom serve wealthy international families. We have 100 guests confirmed for this launch event, which shows the interest in this location and relevance for many private wealth firms in Europe. PCD Club events are designed to aid networking and maximise business development opportunities in a relaxed and social setting. The majority of the audience will be composed of
W
private client lawyers, accountants,
e are delighted to launch in
wealth managers, bankers and trust
Cape Town on Thursday 1
companies, and we are expecting
November at One & Only Resort,
good numbers of guests from the
with the support of Gold sponsor
Channel Islands, UK, Isle of Man and
Jersey Finance and Silver sponsors
Switzerland. Around the event, we
First Names Group and Quilter
will create informal opportunities for
Cheviot. The dinner follows the Jersey
delegates to network and interact with
Finance private wealth roadshows in
each other via meet-up events and
Johannesburg and Cape Town that
private WhatsApp groups.
week; I am told it is also a very pleasant time to visit the country! The format of the evening will be a one
ATTEND UPCOMING
hour drinks reception, followed by a
CAPE TOWN EVENT
networking dinner, where guests will
8
WHAT’S NEXT
What’s next?
VIEW LONDON 17-10-18
VIEW LONDON 25-10-18
VIEW CAPE TOWN 01-11-18
VIEW DUBAI 19-09-18
VIEW ALL UPCOMING EVENTS
9
ogier.com
Appetite for success
Multi-jurisdictional. Multi-disciplinary. We provide BVI, Cayman, Guernsey, Jersey and Luxembourg legal services to clients around the globe. Our teams are client-focused, expert and responsive, working to reduce complexity in everything we do. Our clients are sophisticated, innovative and international, collaborating with us to build lasting partnerships. Our advice is targeted, pragmatic and commercial, delivered with absolute clarity.
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THOUGHT LEADERSHIP
Thought Leadership Passing your Scottish home on: Legal and tax issues to consider by Michelle McNeill, Private Client Associate at Gillespie Macandrew.
READ MORE
A lesson learned: The importance of a valid will by Iain Younger, Director at Frank Hirth.
READ MORE
Art-secured loans – why owners of art increasingly look to monetise their art assets by Freya Stewart, CEO Art Lending, The Fine Art Group.
READ MORE
11
Keep IHT simple by Rob May, Director, Risk Assured.
READ MORE
The tax reasons why international private clients are renting by Andy Wood, Founder and Technical Director, Enterprise Tax Consultants.
READ MORE
The changing face of the family office in the 21st century by Anthony Page, Managing Director, Knox House Trust.
READ MORE
PCD Podcasts Featured: Interview with Claire Colbert of Freeths Solicitors Click here to listen and follow us to stay up-to-date.
MEMBER NEWS
Member news Fairway Group begin international expansion with Bahrain opening. Fairway, who are headquartered in Jersey, will officially launch their new office in the striking United Tower in a ceremony next week. READ MORE
Senior hire for Hampden & Co as lending growth increases at UK’s newest private bank. Hampden & Co has hired Duncan Buchanan from Lloyds Banking Group as a Banking Director... READ MORE
If you have any other news you would like to share with other PCD Club members through this monthly newsletter, please email your press releases or articles to lucy@pcd.club. 14
HELPING YOU NAVIGATE THROUGH UNCERTAIN WATERS
HAMILTON ROSE specialise in assisting
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john@hamiltonrose.tax 07453 332 441
rosalind@hamiltonrose.tax 07817 854 549
BUSINESS DEVELOPMENT MASTERCLASS+ 17.10.18 AT 12 HAY HILL, MAYFAIR
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An innovative, bespoke training program to help your advisers find new business, increase conversion rates and deepen client relationships. Covering areas such as personal branding, lead generation and business growth strategies, the program will equip your advisers with a wide range of skills, whether they are new to the industry or are looking to develop their existing knowledge.
Combining traditional wealth management skills with 21st century business development and sales techniques, this unique course is ideal for: Private bankers Wealth/Investment/Asset Managers IFA’s Business Development Teams Legal advisers Tax advisers Guest Speaker Nick Portet
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