|By ACN Newswire||
|September 7, 2012 10:08 AM EDT||
London, Sept 7, 2012 - (ACN Newswire) - When it comes to tax management, extraterritoriality is becoming more of an issue for private wealth managers, says Peter Hodgson, Chief Executive Officer, Myer Family Office. This makes it much more difficult across various jurisdictions, he adds.
The Chairman at the upcoming marcus evans Private Wealth Management APAC Summit 2012, in Macao, China, 29 - 31 October, Hodgson outlines the process of preparing for uncertainty and discusses how wealth preservation depends on the objectives being managed.
- How can private wealth managers protect wealth?
Each individual's wealth portfolio has its own set of objectives to be considered. These must be established and focused on with an outlook to safeguard and increase wealth. If the objective is to reduce risk, then capital value should be the focus. If the aim is to grow annual return or capital, then decisions might be taken around asset allocation.
- What challenges for wealth managers lie ahead?
Although investments should not be structured just for tax and regulation, they are increasing in number, therefore time and effort need to go into tackling them. Extraterritoriality also weights on the difficulty of managing the tax position. Volatility and uncertainty are facts that wealth managers planning for the future have to consider. How they choose to prepare depends on client objectives. Long-term intergenerational wealth managers will deal with uncertainty by accepting a considerable amount of volatility in the portfolio. They look through volatility and not necessarily react to it.
In an era when the only certainly is uncertainty, it is best to look through the cycle and not be overcome with pervasive pessimism.
- How can asset protection strategies be tweaked for volatile markets?
An attempt can be made to locate strategies that do not move in sync. A conscious decision can be made to move from risky assets to less volatile investments. Hedging and using currencies is a strategy for building protection. Short or long type strategies may also have implications around cash flow.
- What criteria should be used to select asset managers?
The manager,s track record, reputation and understanding of asset classes are the matters to keep in mind. New and emerging managers with a relatively small amount of assets under management should be assessed, as outperformance is a very possible outcome in the early stages of a fund. Frequent contact with associates around the world can pinpoint some of these managers who have spun out from large firms.
Private Wealth Management APAC Summit 2012
This unique forum will take place at The Venetian Macao, Macao, China, 29 - 31 October 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. The Summit includes visionary presentations and interactive forums on moderating growth markets, safeguarding a portfolio, examining uncertainties in the global economy and constructing an effective family governance system.For more information please send an email to email@example.com or visit the event website at www.pwmsummit.com/PeterHodgsonInterview
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