Jersey is a leading jurisdiction for the creation of family
office structures. Here, Carey Olsen senior associate Sarah Farrow
explains how the island has begun to cater for the next generation
of ultra-high net worth individuals.
There are two key developments happening in the family office
space as we move further into the 2020s: firstly, a vast transfer
of wealth (estimated at US$5 trillion1) is occurring in Asia
as a senior generation of ultra-high net worth individuals (UHNWIs)
passes the mantle on to the next wave of Generation Xers,
Millennials and beyond - collectively referred to as NextGens; and
secondly, across the world a new cohort of UHNWIs - the so-called
Xennials (those born on the cusp of Generation X and the
Millennials in the late 70s/early 80s) - are looking to place their
wealth into new, innovative and dynamic holding structures.
