UHNW Wealth Managers
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Our business can be remarkably rewarding,’ says Simon Allister. ‘A client of mine recently made the decision to give away the vast majority of his wealth. He had a very specific vision for what he was trying to achieve and who he wanted to benefit. He had been thinking about it for a while, and, although small in the grand scheme of things, it feels good playing a part in projects you know will be hugely beneficial for others.’ Allister chose to go into wealth management originally because of a desire to ‘add value in an environment that made use of my strengths.’ Now he finds that the interaction he has with people, often from vastly contrasting backgrounds, is an education in itself. ‘I feel privileged and hugely enjoy the challenge’, he says. As head of wealth planning, Allister works alongside the investment teams and other specialists to smooth and coordinate ‘all aspects’ of a client’s financial affairs, from advising the family business to complex succession and governance requirements and specific technical advice about complex transactions. He is a chartered financial planner, a chartered member of the Securities Institute, a fellow of the Personal Finance Society and a full member of STEP. This year, he’s seen an uplift in clients looking at social impact investments: ‘I would expect this will continue,’ he says. Allister also believes it has taken a while for some clients to digest the raft of legislative changes we’ve witnessed over the past few years, although he says ‘the dust has begun to settle with non-doms, Brexit and tax transparency’. When asked about the last 12 months, Allister is measured: ‘All things considered, the last 12 months has only served to reiterate my view that there is still a trend for keeping things simple – we find that clients do not want any undue additional complexity to their financial affairs. That said, often the practical realities are very different. It has been an exceptionally busy period with clients looking to review their wider arrangements.’

Of LGT Vestra, he says, ‘as a business, we provide a fully integrated all-encompassing investment management and wealth advisory service. We recognise that clients want more from their wealth manager than pure investment returns.  The most fascinating aspect of the job is being at the coalface in what can often be very complex family dynamics. To add value, to see your efforts come to fruition with positive outcomes for clients, can be hugely rewarding.’

‘The next 20 years will likely see the greatest transition of wealth in history,’ Allister tells Spear’s. ‘On the one hand, it has never been easier for clients to have a global life. I think that this, in itself, comes with challenges and complexities that require professional guidance.’

Simon Allister
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