04/10/22

Experts highlight human element of international wealth planning at flagship Jersey Finance Conference.

Press release from Jersey Finance on Tuesday 4 October, 2022.

Sustainability, technology, and the ‘human side’ of private wealth were among the topics discussed by panellists at Jersey Finance’s recent flagship Private Wealth Conference, entitled “Change, Challenge, and Opportunity”.

The event took place last Tuesday (27th September) in London to a crowd of over 400 delegates and included a keynote speech from Lord Chris Patten, two panel sessions featuring UK-based private wealth specialists, and an endnote fireside chat with retail expert Mary Portas.

Speaking in a session entitled ‘Innovation in Investing’, panellists discussed issues including the value of data and technology in making investment decisions which are positive for the planet, but which can also prioritise each investor’s own beliefs. The panel also explored innovative solutions to meeting philanthropic objectives and considered the ongoing issues that wealth advisers face, such as greenwashing and the duty of trustees.

Meanwhile, in a second session entitled ‘Risk Mitigation in a Transparent World’, panellists discussed the global, social, political, and reputational risks faced by private investors today.

The conversation examined the role of technology both as a disruptor and as a powerful positive tool, as well as the growing focus on ESG criteria when approaching investments, with Jersey Finance’s own efforts in promoting sustainable finance being highlighted as a demonstration of how IFCs should be tackling such issues. The panel also explored the need for governments, law enforcement, regulators, and the industry to work together in order to effectively tackle financial crime.

Also speaking at the event, Lord Chris Patten drew upon knowledge and expertise gained through his political career to provide insights into current developments in Russia, Ukraine, and China in his keynote speech. The endnote fireside chat with Mary Portas echoed sentiments from the panel sessions regarding the importance of values through her discussion on the impact of good retail and business practices and how high streets will be transformed in line with the priorities of local communities.

Commenting on the event, Joe Moynihan, Chief Executive Officer, Jersey Finance, said:

“A key message to emerge from our flagship conference in London this year was the importance of understanding the human element in private wealth decision making, both in terms of how private wealth professionals communicate with clients and how clients’ values should be understood and prioritised. Our panellists put forward a strong case for ‘getting away from spreadsheets’ and remembering our origins as storytellers, which was a fitting reminder that at the heart of our industry is people.

“Indeed, focussing on the sustainability of our own skilled financial services workforce in Jersey is one of Jersey Finance’s three priorities this year, alongside sustainable finance, and digital innovation - all areas which were explored over the course of the event.

“The conference covered a huge amount of ground, including topics ranging from family governance and the impact of the next generation on investment decisions, to consumer duty and technology’s role in risk and transparency. My thanks go to our panellists, our team at Jersey Finance, our sponsors, and our guests, who all contributed to making the event such a success.”

The ‘Innovation in Investing’ panel consisted of moderator John Pepin, Chief Executive, Philanthropy Impact; James Lawson, Managing Partner and Co-founder, Tribe Impact Capital; Jordan Williams, Client Partner, Artorius; Rosie Bullard, Partner and Portfolio Manager, James Hambro & Partners; and Charlotte Thorne, Founding Partner, Capital Generation Partners.

Speakers on the ‘Risk Mitigation in a Transparent World’ session were moderator Aidan Holloway, Senior Director & UK Head of Financial Services, Edelman Smithfield; Dickon Johnstone, Chief Executive Officer, Themis; Peter Headden, Co-founder and Managing Director, Farrant Group; Emily Osborne, Partner, Stephenson Harwood; and Matthew Braithwaite, Partner, Wedlake Bell.