Wealth Management

Jersey is home to significant private wealth expertise, which has been at the heart of the finance industry since the 1960s and the Jersey is well-known globally as a centre of excellence in this field. People who work in the private wealth sector may help clients with:

Banking: Providing the bank accounts, loans, investment advice/management and other related products that are required to hold cash or other investments.

Legal advice: If an individual or family has moved to Jersey and/or they have a businesses or transactions in Jersey, they would typically need Jersey legal advice in relation to the law as it affects them and their rights/obligations.

Accounting/Tax advice: The proper governance of a person, family or business of a high net worth individual typically requires both regular accounting services to be provided as well as tax advice as to the impact of their activities, residence and transactions.

Investment management: Many high net worth individuals or families seek to diversify the assets and investments that they hold to manage their risk – both in terms of type (real property, stock market etc.) or in terms of geographic location. As such, they often turn to expert investment managers who will advise, monitor and manage their assets.

Administrators: Where an individual or family has established a business or a legal structure (a company, trust, foundation or otherwise) to hold their assets/investments or for succession planning. to enable their wealth to pass to their family in a managed way. They will often be required to engage with an administrator to look after the governance affairs (provide registered office, maybe directors/trustees, co-ordinate the advisors to the entity such as accountants) and to ensure that the entity meets with all the required laws and standards. The entities that would typically be used in a private wealth context are:

• Trusts: Trust structures are one of the most important investment vehicles, designed to overcome inheritance and succession issues and thereby helping to preserve the wealth of individuals and their assets (such as property, fine art, businesses, yachts and aircraft from all over the world).
• Foundations: Foundations help people or corporate bodies manage their wealth by holding assets; foundations are asset-holding vehicles.
• Companies: Companies are legal entities that are ‘bodies corporate’ and have a separate legal personality from their members (For example, they contract in their own name, own their own assets and have their own obligations). They are one of the most frequently used vehicles for both holding structures but also to act as trustees of trusts.
• Family Offices: Generally, the term ‘family office’ is used in a broad sense to describe an organisation, business or holding structure dedicated to holding and managing the wealth of a family (or even multiple families).
• Philanthropy: Many individuals or families with significant private wealth also have charitable giving or philanthropy as a key part of their activities. Often, they require advice or assistance in organising and arranging this to ensure that this giving has the maximum positive impact.

You will need to show evidence of the following:

• Attention to detail and a desire to provide excellent customer service
• Communication, interpersonal and listening skills
• Discretion and an understanding of the need for client confidentiality
• An ethical and professional approach to work
• Time management skills
• Good level of numeracy and IT skills
• The ability to work as part of a team

• Relevant degree
• A legal or accounting qualification
• A Society of Trust and Estate Practitioners (“STEP”) qualification
• An Institute of Chartered Secretaries and Administrators (“ICSA”) qualification

There are also opportunities for school leavers/graduates to apply for internship/trainee positions.

Some career opportunities may include but are not limited to:

• Administrator
• Financial Advisor
• Relationship Manager
• Portfolio Manager
• Lawyer
• Tax Advisor