Estera, a leading, global fiduciary provider, has published a report collating eight key recommendations for advisers when dealing with the next generation of beneficiaries. The report is available on Estera’s website.
The recommendations, compiled from the findings of an industry round table chaired by Estera’s Global Head of Private Client and Trusts service line, Richard Prosser, confirm the pivotal role that advisers have to play as well as how they must adapt and move with the times.
The round table brought together senior professionals from the worlds of trusts, law, family office and wealth management. These wealth practitioners shared their views on the challenges created by the handover of wealth, the new and evolving demands of younger HNWIs, and what the transition means for advisers and the services they offer.
Richard Prosser said: “It became clear that planning, education and communication are the themes that dominate this space and that the generational transfer of wealth will be accompanied by a transformation in the provision of wealth management advice.”
Estera’s private client business is built on long-term relationships to help clients protect, preserve and grow their wealth. In a fast-changing and sometimes uncertain world Estera’s clients trust them to manage their affairs with skill, absolute discretion and a high attention to detail.
On 19 July 2019 it was announced that Inflexion Private Equity will acquire Estera, subject to regulatory approval. Following completion, Estera will be merged with Inflexion’s existing portfolio company, Ocorian, to form a global corporate service and fund administration leader of significant scale. The combined business will be a major global player with offices in 18 key offshore and onshore jurisdictions, over 1,250 employees and which will serve over 8,000 clients.