WEALTH INSIGHT FORUM 2019 - THE £1 BILLION MEETING OF MINDS - Spear's Magazine
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WEALTH
INSIGHT
FORUM 2019
THE £1 BILLION MEETING OF MINDS
WEALTH INSIGHT FORUM 2019
1 Great George Street, Westminster JUNE 2019 8am –7pm
The Spear's Wealth Insight Forum brings together in excess of Provisional Format
£1 billion of investor assets through HNW and intermediary THEME: hwn Brexit Britain
attendees, based on Spear’s estimates of previous events 8.00am Registration & Networking
8.50am Chairman’s welcome by Alec Marsh
9.00am: Keynote 1: TBC
PREVIOUS SPEAKERS 9.40am: Panel 1:
10.25am: Panel 2:
Ben Goldsmith
11.10am: Break (30 mins)
A DAY OF INSIGHT Despite the already massive Jim O’Neill
11.40am: The Insight Interview:
Commencing at either breakfast changes of the 21st century – Dame Helena Morrissey
TBC (30 mins including questions).
or 10am with two/three panels from the rise of a new class of the Stephanie Flanders
12.10am: Panel 3: TBC
before a networking/vertical super-rich to the destruction of Gina Miller
1.00pm Lunch (60 mins)
lunch; followed by two/three established invest-ment practices James Daunt
2.00pm: Key note 2: Robert Amsterdam on
panels after lunch and networking – many wealth managers are stuck Rhydian Lewis
geopolitical trends for HNWs
drinks/canapés. with an old paradigm. Spear’s is Julie Meyer
TBC (20 mins + questions)
perfectly placed to explain the new Philip Mould
2.30pm: Panel 4: TBC
HNW mindset and lifestyle with Sandra Davis
ABOUT THE WEALTH 3.15pm: Panel 5: TBC
characteristic insight, analysis and Faisel Rahman
INSIGHT FORUM 4.00pm: Break (30 mins)
wit. why get involved? Kate Shand
Spear’s will be doing what it does 4.30pm: Panel 6: TBC
Because you want to meet Dame Stephanie Shirley
best – helping wealth managers, 5.15pm: FINALE: Brexit and the Future
the super-wealthy, their closest Jeremy Goring
lawyers and other private client of Wealth
advisers and the most important Rev Dr Giles Fraser
professionals to understand the 6.15pm: Closing remarks and Drinks and
opinion-formers and thought- Michael Green
world of their high-net-worth canapés/networking
leaders of today, at an event which Robert Amsterdam
clients – with the Spear’s Wealth 7.00pm: END
is stimulating, informative and David Murray-Hundley
Insight Forum. enjoyable. Richard Hargreaves
Kenny Schachter
PROPOSED AGENDA
THE WEALTH PANEL ALTERNATIVE ASSETS: PHILANTHROPY/IMPACT
The Fintech transformation Investment and buying trends and INVESTMENT
strategies in fine wine, fine art and classic
Roundtable with top private bankers, From impact investing to social
cars. What sectors of these markets are
asset managers, family offices and tech enterprises, ethical investing, DAFs
‘hot’, which segments are rising and who
specialists. This will bring key and varied and more, we look at the trends in
are the hungriest buyers?
expertise to the table: in the age of philanthropy. Panel could have advisers,
Brexit, how can Fintech transform HNW INVESTMENT-MIGRATION IN THE tax experts, social entrepreneurs,
portfolios and Britain’s outlook. AGE OF BREXIT philanthropists, and more.
THE PROPERTY PANEL With Brexit now in play, where are UK ROUNDTABLE: BREXIT AND THE
Market analysis/sentiment in the UK HNWs looking for residency or second FUTURE OF WEALTH
and beyond, Brexit and trends passports? And who is coming to the
Brexit has happened – and now we
UK? Which jurisdictions are most
What’s moving in the market in this know what it looks like. But what impact
attractive to globally mobile HNWs?
important investment area for is Brexit and the process of leaving the
Our expert panel will review the
UK-focused HNWs, plus the impact EU having on UK-focused HNWs, their
locations and the trends.
of Brexit, sterling’s fluctuations and wealth, and the future prosperity of
the health of the economy. FAMILY LAW PANEL Britain? In this panel we bring experts
from across the private client field to
From prenups to postnups to ‘no fault
OFFSHORE/TAX AND contemplate Britain in five years’ time.
divorce’ and the end of so-called ‘ticket
TRUST PANEL Brexit: for richer, for poorer.
for life’ maintenance allowance and,
Exploring what the trends are Brexit, we probe the trends in family
looking toward 2020 law for our UK-focused but increasingly
With expert voices, a look at the UK and international HNW community of NETWORKING l
international tax and trusts state of play. readers. DRINKS l CANAPÉS
HNW HEALTH
ROBERT AMSTERDAM:
The veteran Spear’s contributor offers his This panel will look at the latest trends
geopolitics update for HNWs. How does in HNW healthcare and mental
he see Brexit working out? wellbeing.HOW TO GET INVOLVED 2019
HEADLINE SPONSORSHIP PANEL SPONSORSHIP STAND SPONSORSHIP
£28,000 £15,000 £6,000
Exclusive sponsorship of the chosen Opportunity to have a stand in the
The Spear’s Wealth Insight Forum Exclusive sponsorship of all guests
panel and the right to have a speaker breakout area for the duration of the
in association with your company’ badges with sponsor’s logo
on that panel forum
whenever the event is mentioned
Your company twitter handle to be
Opportunity to give a brief Full Page advertisement in the events
A representative from your included in every event tweet on
introduction prior to the panel programme
company to give an introduction to the event night (subject to editorial
starting
the event and closing speech before control) Comprehensive major branding
the Great Spear’s Debate Comprehensive major branding at the at the event and before and after
A “Foreword” in the events
event and before and after in Spear’s in Spear’sand on spearswms.com,
Opportunity to chair the Great Spear’s programme
and on spearswms.com, including on including on the invitation to delegates.
debate with 4 key speakers led by
Site skin for one week prior to the the invitation to delegates.
celebrity individuals Two delegate passes
event taking place on http://www.
Opportunity to have a stand in the
Opportunity to have a stand in the spearswms.com/category/wealth-
break out area (exact size TBC)
break out area - (exact size TBC) insight-forum/
Your logo to appear on http://www.
Exclusive sponsorship of a Spear’s 500,000 ROS impressions on http://
spearswms.com/category/wealth-
newsletter pre and post the event www.spearswms.com/category/
insight-forum/ alongside your chosen
wealth-insight-forum/ until 30 days
Comprehensive major branding panel
after the event has finished
at the event and before and after
One native article online at
in Spear’s and on spearswms. An interview with your brand
spearswms.com to be live on the
com, including on the invitation to ambassador to be included on
site until 30 days post the event
delegates spearswms.com until 30 days post
the event Your own dedicated Solos E-Shot sent
One full page ad or profile in event
to all attendees after the event has
programme in a premium position One native article online at
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spearswms.com to be live on the site
Six delegate passes
until 30 days post the event One SOV MPU banner on http://
www.spearswms.com/category/
wealth-insight-forum/ until 30 days
post the event
One full page ad in event programme
Four delegate passesThe Spear’s Interview
Lloyd Dorfman: the rich
ABOUT SPEAR’S
aren’t giving enough
Featuring
Plus
Postcard from Oslo:
is Norway an option? Andre Agassi
WEALTH | BUSINESS | Jo Brand
CULTURE | LIFE
£5.00 NOVEMBER/DE
CEMBER 2018
THE END OF THE
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HOW DONALD TRUMP
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OF THE WORLD’S RESERVE ING THE DEATH
The Michelin Guide to the
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CURRENCY
With Yanis Varoufakis l
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Spear’s is the multi-award-winning wealth management ISSN 2054-7765
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and luxury lifestyle media brand whose flagship
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KATE ADIE | MAGGI HAMBLING | DAVID
ROSS | STANLEY JOHNSON
magazine has become a must-read for the ultra-high-net-
worth (UHNW) community. The Index Wealth managers
start-up boutique focusing on
private clients to taking on
69
Spear’s is for anyone who wants
to make money – and keep it
business from consultants and
financial intermediaries.
Described as the ‘Bible of the banking fraternity’, with
It’s another success story for
the pair, who started Cerno Capital
in 2007 and have navigated the
financial crises with dexterity
for some very satisfied clients.
‘We were able to provide
consistent returns for clients that
Aastha Gurbax Charlie Hoffman Nick Hornby Amit Kotha Giles Pascoe
its financial services community, including the bankers,
they were happy with and we’ve
JP Morgan Private Bank HSBC Private Bank never really lost a client as a RBC Wealth Management Goldman Sachs
Cerno Capital
result,’ says Hornby.
Outstanding in field Outstanding in field Outstanding in field Although assets are growing Outstanding in field Outstanding in field
International
FIRM SIZE International
FIRM SIZE
FIRM SIZE Boutique by 5-15 per cent annually, Cerno FIRM SIZE International International
FIRM SIZE
FOCUSNew money creators FOCUSHigh end relationship FOCUS Vehicle-agnostic will not lose sight of the need to FOCUS South-East Asian UHNWs FOCUSUHNWs, entrepreneurs
management investment be in close touch with clients.
‘They have to trust you to be
lawyers and family offices who advise the wealthy. Elizabeth Hurley
‘The fundamentals of investing ‘Our UK clients are global citizens Cerno Capital has just celebrated honest and have good moral Amit Kotha is one of RBC Wealth A first-choice private banker
remain the same,’ Aastha Gurbax, – they have houses abroad and ten very solid years in the judgement while expecting you to Management’s best assets in to UHNW entrepreneurs, City
JP Morgan Private Bank’s children abroad and they need to business, and a lot of hard graft is do things quickly and efficiently,’ London. Few bankers enjoy such bigwigs and landed families, Giles
personable senior managing diversify in terms of assets, clients taking place to push the firm that he says. ‘It’s important we know trust and respect among Britain’s Pascoe garners plenty of praise
director, assures us. Geopolitical and geographies,’ says Charlie one step further. Having brought in our clients well.’ South-East Asian UHNW from industry insiders, rising
risk is ‘a fleeting source of Hoffman, producing persuasive Tom Milnes from Investec as Out of the office, Hornby and community, giving the Canadian above his 650 peers in the asset
volatility’ for her clients, many of charts that prove the importance business development director, Cerno Capital champion women’s bank a clear advantage. These management division of Goldman
whom own long-term portfolios. of diversification within portfolios. Hornby and fellow managing sport, recently sending two female clients are selective, he says, and Sachs despite its top-down,
But investors are becoming Hoffman exudes charm. This partner James Spence have photographers to shoot the Winter don’t want to deal with banks heads-down approach to publicity.
TOP TEN more nuanced. Gurbax says clients
are increasingly aware of the
year, having recovered from a
snapped Achilles calamity of 2017,
expanded the offering from Paralympics in PyeongChang. whose reputation isn’t sound.
It is a challenging environment
Making his second appearance
in the Spear’s UHNW top ten, this
UHNW WE ALTH trends in 2018 and come suitably he threw himself back into tennis and many banks have suffered, as Cambridge University economics
Through the Spear’s Wealth Insight Forum, Spear’s is
prepared. She looks after a with unlucky results: ‘I slid on a he previously told Spear’s. But graduate is a co-chair of the firm’s
MANAGER S versatile client base of ‘new
money creators’, TMT (technology,
wet court and ripped my medial
collateral ligament, so spent a few
Kotha thinks that increased
regulation and transparency
EMEA advisory council and leads
a formidable investment unit on
media and telecoms) players, as months of this year recovering.’ North America, Singapore and across the industry have helped the private wealth management
well as large UK family offices. Spear’s suspects Hoffman will other parts of Asia. Our clients can RBC: ‘It gives us the peace of mind team based in London. He also
As if global instability didn’t cause enough
Managing their high expectations bounce back. He began in law (‘it be seamlessly linked up,’ he adds. that we are dealing with the right has responsibility for developing
headaches for wealth managers, they have also is part and parcel of the adviser’s gives you that extra pedigree’), but That internationalism clients – nobody wants to deal the firm’s institutional client
had to deal with MiFID II in recent months. role. ‘They look for agility, flexibility, then found his calling in banking. particularly makes sense at the with clients who are not on the solutions business, working with
uniquely placed to connect financial and luxury brands
Not to worry – the best of the best always find dynamism and a can-do attitude ‘It was absolutely what he was moment. ‘We are encouraging our right side of the law or on the right UK-based charities, foundations
a way to help their clients prosper, and when it comes to wealth meant to do,’ says an old friend. clients to go global,’ he says. ‘That side of tax compliance.’ and endowments.
Christopher Jackson, Matthew Hardeman, management,’ she says. The relationship manager now has some advantages when Kotha, who looked after Indian Credited by industry experts as
Rasika Sittamparam, Olenka Hamilton and This level of sophistication handles assets in excess of there’s crisis in the world – it may UHNWs at Citi before joining RBC, ‘brilliant’ for his rare combination
Emelia Hamilton-Russell have identified those means the private bank will $10 billion – a figure which not feed through to the rest of the personally manages the assets of of expertise and bedside manner,
experts who can be most relied upon, beginning continue leveraging more than includes investment, cash and world. Clients benefit from being just a handful of billionaire families. Pascoe has forged an enviable
with the top ten managers of UHNW wealth $80 billion into alternative custody but not his lending book. Jeremy Knowland more diversified on a global basis.’ One client told Spear’s: ‘Not only reputation over the past 13 years
to this exclusive and elusive audience. By engaging with
investments, as well as creating ‘a He runs a small team, ‘a little like In Knowland’s view, MiFID II has does he advise to the best of his managing portfolios for individual
Citi Private Bank
deep roster’ of affiliated managers a mini family office,’ he says. been somewhat challenging: ability, he takes on his clients’ and institutional private clients
and venture capital firms. One observer says Hoffman is Outstanding in field ‘There’s the requirement to spend problems as his own and thus has from the firm’s London HQ. He
Gurbax believes in business expert at ‘finding oxygen’ within a International time focused on delivering and real empathy when advising.’ previously spent eight years in
A cross between Forbes
FIRM SIZE
dialogues and is especially proud large organisation – although he is FOCUSGlobal UHNW clients adhering to regulation.’ That can Kotha is keen to highlight RBC’s pan-European equity sales, joined
of the peer-to-peer platform plainly delighted by the range of slow delivery, but if so it’s ‘one-bank’ approach, by which the Goldman’s, which has an AuM of
the bank provides for HNWs. services HSBC provides. ‘We’re something the industry is used to bank caters to a growing number $1 trillion, in 2000 and was made
‘It’s about learning from the towards the end of a bull market,’ When Jeremy Knowland catches dealing with over the past decade. of its ‘über-ultra’ clients looking a managing director in 2011.
our panels on the concerns of the wealthy in the twenty-
entrepreneurial ecosystem – and he says. ‘But we’ve just had really up with Spear’s he’s in an optimistic He is clear on the need to move for a streamlined service. It Despite Goldman’s CEO Lloyd
it works really well,’ she enthuses. good earnings figures out of the mood. ‘We feel we are getting the industry forward: ‘The industry certainly helps that he enjoys Blankfein making a lot of noise
The Harvard graduate, who has US: we continue to keep advising increasing traction and we have a more broadly needs to be better at trusted adviser status and on Twitter about ‘spending more
previously worked at PwC, clients to keep diversifying.’ volume of new clients,’ he says. attracting people at inception,’ he maintains a ‘generalist’ remit time’ in Frankfurt or his affection
Deloitte, Morgan Stanley and The former Spear’s Private Citi Private Bank’s UK client base, says. If you look at his client book that extends beyond typical for Paris – as well as other
Goldman Sachs, joined JP Morgan Banker of the Year also he says, usually has a UK nexus, – and the fact that Citi has been discretionary management into murmurings about a sale of its
Private Bank in 2010. She was emphasises the importance of although increasingly ‘they’re Spear’s International Bank of the capital markets, acquisitions, London offices – the firm retains
first century, your company or brand can demonstrate a
and Vanity Fair
Spear’s Young Wealth Manager remaining fully invested. ‘Don’t go global citizens, with a number of Year twice in a row – he must be debt finance, estate planning and a strong UK presence with some
of the Year in 2016. to zero and be a hero,’ he says. families particularly going into doing something right. intergenerational wealth. 6,000 in the capital.
forward-thinking, intelligent approach while meeting our
HNW audience. The Good Life
Samsung (main
picture and
top right) and
Ultra
RETAILING IS CHANGING so fast
that nobody knows where it will end.
Most retailers are holding their breath
with kindness – there is no pressure
on the ‘guides’ to sell or on the
customer to buy, so the relationship is
115
025
styles (70 per cent of the company’s
business is in engagement rings), but
they can also place an order online.
Ben Goldsmith
Nordstrom (middle
and bottom right) as they watch the inroads made by non-commercial – though of course While the notion of opening a shop
are among the online shopping and changing the Bonobos team hope all this will that doesn’t sell directly may seem
retailers opening consumer attitudes – and they fear persuade the customer to order much radical to old-fashioned retailers, the
‘un-stores’ Amazon’s increasing clout in particular. more online eventually. evidence points to the fact that it pays
spearswms.com
It’s in America that the forces of off. Bonobos, Nordstrom and
change are being felt most acutely, GADGET SHOW Samsung all say their ‘un-stores’ work
and where by the end of 2017 alone Samsung, too, seems to have decided for them – they learn more about
8,600 stores will have closed their that at least part of the way forward is their customers’ tastes and habits,
doors. This makes it all the stranger to improve the customer’s experience they help them improve their
that a radical idea is emerging – shops of the brand before going for the hard products, and customers become
that don’t actually sell anything. It sell. At its 837 store in New York, more engaged with the brands. Blue
seems totally counterintuitive, but a there are three floors of cutting-edge Line has found that those who go to a
small clutch of shops in the US have technology and not a thing (except a Webroom before buying spend on
begun to experiment with new ways coffee and a bun) to buy. There are average $1,000 a head more than
of engaging with their customers by tutorials on how to get the most out those who just buy online.
opening shops that don’t allow you to of its gadgets, all its products are Some commentators see in this a
buy anything at all on the premises. there for potential customers to reaction to the robot-like efficiency
In Los Angeles, Nordstrom has test-drive, and one director stated and remoteness of online retailing, a
launched a mini-version of its usual that as far as he was concerned sense from some retailers that they
vast retailing ventures, which it calls people could spend as long as they need to restore a human dimension to
Nordstrom Local. It has what it calls a liked in its warm embrace. the act of selling. Certainly many big
‘styling suite’ and eight dressing In Samsung’s case, it seems to be mainstream stores, which are having
rooms, but while customers can buy about education, education, education. to rethink the use of their spaces, are
My favourite magazine
coffee and drinks, play around with The more its potential customers giving over more and more space to
the clothing and get personal styling understand its wares, the more they things that don’t generate immediate
SPEAR’S READERS
advice, they can’t leave clutching any play with them, learn what they can income – such as travel talks and
of it. The idea seems to be to offer an do, the more likely they are to buy cultural events, self-improvement,
immersive experience of the brand, them, tell friends about them, enjoy well-being and learning – in the hope
allowing people to explore without them and therefore buy more of them. that they will encourage customers to
any commercial pressures. Staff offer And it’s not only about its own spend longer in their stores and,
support, advise, give the visitor a great products – the store also runs cooking ultimately, spend more. Pop-up stores
time, but don’t sell directly. demos, has art exhibitions as well as that are more about experiences than
Those who fall in love with some of artists performing and generally commercial transactions are also
Nordstrom’s lines can place an order makes sure that 837 is a destination becoming popular and a good way for
where people can learn, have a a brand to spread its message.
cultural experience and have fun. If it is true that e-tailers and bricks-
Blue Nile, a jewellery retailer that and-mortar shops are beginning to
UNIQUE
Terence Conran
sells only online, now has six of what it learn from each other – one becoming
calls ‘Webrooms’, or what others have more human, the other more efficient
taken to referring to as ‘un-stores’ – perhaps the future for both looks
NON-SELLING
around the USA. Here potential somewhat brighter. S
customers can come to learn about
Spear’s 62,000 readers are • 63% think we are an
diamonds and try on different ring
POINTS in the shop and have it delivered to ‘Guideshops’ since 2011. They aren’t STYLE FILE
their homes later, but it has done shops in the conventional sense – they
some of the wealthiest in authoritative source of
away with the traditional objective of are more like play spaces where men Cool tools for beards The most beautiful luggage German brand Junghans
Retailers are fighting the online shops – the adrenaline rush that can try on as many clothes and outfits and moustaches are I’ve seen in a long time is makes elegant, simple
shopping trend in unusual fashion comes from rushing home to try out as they like but leave with nothing. appearing – such as made by LONB. Its Runaway and effortlessly classy
one’s latest acquisition. The staff aren’t sales assistants Kai Seki Magoroku clips into the interior of watches. They are not yet
It’s not only Nordstrom. Bonobos, – they’re guides – and the moment beard and moustache every piece and is designed widely distributed, so their
which initially sold its menswear only you set foot in the store one of them is scissors (£29.99), with to hold your key necessities. owners are in a small but
by Lucia van der Post – the founding
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the history of media: information and analysis.
by Walmart), has opened almost 50 idea, it seems, is almost to overwhelm thefowndry.com for ever. lonb.com libertylondon.com
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The Good Life Shopping 89
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Exclusive; £8,700READERS
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