UHNW Wealth Managers
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‘The level of integrity, transparency and professionalism in the industry has improved out of all recognition,’ says Kate Leppard, deputy head of wealth management at Cazenove, reflecting on how the wealth landscape has changed. She says the firm has always been proactive and prepared when it comes to high standards of compliance. It’s a fine balance between adapting to ‘absolutely huge’ regulatory changes and achieving ‘first-class investment returns’ for clients — but Leppard is unfazed.Beneath her cool demeanour lies a steadily growing book of UHNW clients with ‘complex’ structures in various jurisdictions. ‘We can tailor a global institutional approach to a very bespoke private client wealth approach,’ she enthuses. Increasingly business-aware scions, whom Leppard describes as ‘social entrepreneurs in their own right’, are making the shift to the next generation easier and helping the generational transition is what she finds most satisfying. Leppard recalls an elderly client who died last year, whose family later reported the deceased’s affection for her. ‘I was very overwhelmed,’ she says. ‘It means that I’ve done a good job over many years with him.’ Leppard proved herself establishing Schroders’ fund of hedge funds division, spending a good deal of time on the other side of the Atlantic, and by overseeing the implementation of RDR and MiFID II compliance. Her efforts have helped forge exactly the culture of high levels of client service that so often falls under the march of progress and globalisation. She began her career as a stockbroker at Quilter Goodison in 1987, before joining Schroders in 1990. She’s clear on what separates the great from the good: ‘Depth and breadth of expertise — and being able to draw from a wide knowledge base. When it comes to HNW and UHNW families, the stability of the relationship is very important…You need a discretionary manager who is forward-looking and who evolves with time — and having a strong relationship with your client, where there’s a mutual understanding and trust, that makes all the difference in the world.’

Kate Leppard