In October, Jersey Finance CEO, Geoff Cook, spoke with Legal
Business on the importance of preparing for the Great
Wealth Transfer.
Driven by globalisation, technological advances, demographic
shifts and societal change, one of the next big challenges on the
horizon for private client lawyers is the phenomenon dubbed the
‘Great Wealth Transfer’.
With trillions of dollars expected to pass from baby boomers to
the present-day generation, via the transfer of direct and absolute
wealth ownership, this intergenerational transfer of wealth is
likely to have a clear impact on the way legal professionals
support the future succession and wealth planning demands of
private individuals and their families. This includes the transfer
of individual influence in existing wealth-holding structures.
