Intermediary Support – Case Study 2

A Private Banking intermediary approached us as they had a High Net Worth UK resident but non-UK domiciled client in his mid-50s, who wanted to know his options on how he could earmark a significant segment of his wealth for the long term benefit of his young children.

The banker in question was keen to demonstrate a value-add service to his client, as the funds being committed to the structure would represent new Assets Under Management for his firm, thus producing a valuable stream of new fee income.

We met with the client alongside the private banker to understand his unique circumstances and requirements.  We provided a shortlist of viable structures, setting out their various pros and cons, including outline tax analysis, so that the client could clearly review his options and select the most appropriate structure.

The client opted for an offshore discretionary trust, the terms of which we provided considerable input, so that it precisely aligned to his objectives.  We were appointed to provide the tax advice and also to provide transactional support to drive the efficient establishment of the structure with a proficient offshore fiduciary.

The trust fund was deposited by the trustee in to a discretionary investment account set up with the Private Banking intermediary.