Jersey Finance Private Wealth Conference Review

Importance of Embracing Change in a ‘Multipolar World’ Highlighted at Jersey Finance Private Wealth Conference

Despite feeling that they are navigating a landscape of perpetual change and fragmentation, families and private investors can thrive – but only if they are agile, they act on high-quality advice, and they are open to the opportunities presented by change, according to speakers at this year’s Jersey Finance Private Wealth Conference.

Entitled ‘Beyond the Permacrisis’, the event – which took place this week (Tuesday 24 September) in London and was attended by more than 500 delegates from across Jersey, the UK, Europe and further afield – included a keynote speech from renowned former diplomatic editor for Sky News and bestselling author Tim Marshall.

Pointing to the importance of tracing how geography has shaped historical tensions between countries, he identified the emergence of a ‘multipolar world’ and suggested that, although we are likely to see a challenging few years ahead, current global uncertainty was not unique historically and that long-term national power, societal behaviours and trade interests would help humanity find a solution.

This narrative was maintained in a panel session, ‘Thriving in Times of Geopolitical Turbulence’, which explored how investors can thrive in a volatile geopolitical environment. Highlighting how two key recent major events in particular – COVID-19 and the war in Ukraine – had significantly challenged the status quo, panellists discussed how advisers needed to listen as much as ‘broadcast’ to their clients, conscious that the priority for families now lies in safety and security as much as it does in wealth creation. In particular, they emphasised that flexibility and agility were key when it comes to advising around long-term structuring.

Meanwhile, panellists in the second session – ‘AI Revolution: Transforming Wealth Dynamics’ – discussed the impact of AI on wealth dynamics, with a focus on driving greater efficiencies, heightened productivity, and better security. Acknowledging the challenge posed by the rise of AI, around data security and fraud, panellists highlighted that AI can be both the illness and the cure, emphasising the importance of skills, training, experience and good data when it comes to harnessing the potential of AI in delivering high quality wealth management solutions.

Concluding the event, Claire Williams OBE – one of the most successful women in Formula 1 history – reflected the overall theme of the event, stressing that change was as much about seizing and creating opportunities as it was about navigating challenges.

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

“This year’s conference highlighted that the world is facing significant challenges – from global power struggles and trade wars to the complexities of digital security, civil unrest and shifting security risks. But the overall message from our speakers and panellists was one of optimism and positivity. With the right high-quality advice and guidance, families and individuals of wealth can navigate a safe course and seize opportunities.

“It will take patience, an ability to adapt and an acute understanding of how the world around us is changing – but in an environment of perpetual change, the focus should always be on opportunity rather than adversity. And we should be in no doubt – private capital has the potential to make a considerable and positive impact in global markets if we can harness it and apply it in the right ways.”

“This was our largest ever London conference, and I’d like to extend my thanks to this year’s speakers and panellists, our sponsors, our media partners, our guests, and our team at Jersey Finance, who have made this year’s event such a success once again.”

Sponsors for this year’s conference were Affinity Private Wealth, Bedell Cristin, Carey Olsen, Crestbridge Family Office Services, Fairway Group, HIGHVERN, Investec Bank (Channel Islands) Ltd., Lloyds Bank International, Standard Chartered, VG and Walkers. Media partners were eprivateclient, IFC Media, Philanthropy Impact, Reports Legal and Wealthbriefing.

Speakers on the first panel session, ‘Thriving in Times of Geopolitical Turbulence’, were moderator Michael Oliver (Co-founder of Global Partnership Family Offices), Bobby Vedral (Managing Partner of MacroEagle), Marianne Kafena (Partner at Mishcon De Reya), Clare Stirzaker (Partner at Boodle Hatfield) and Piers Master (Partner at Charles Russell Speechlys). The second panel session, ‘AI Revolution: Transforming Wealth Dynamics’, featured moderator Charlotte Hill (Partner at Penningtons Manches Cooper), Nicholas Charles (Founder of Danti), Josh Leigh (Partner at Schillings), Dr Danica Damljanovic (Founder and CEO of Sentient Machines) and Peter Cunnane (Director of International & National Initiatives at Innovate Finance).

Keynote speakers were former diplomatic editor for Sky News, Tim Marshall, and one of the most successful women in Formula 1 history, Claire Williams OBE.