JP Morgan was named Private Banking Team of the Year at the STEP Private Client Awards in London last night. The judges, led by chairman Andrew Young, focused on the winner’s innovative programmes to educate clients and staff. “Trusts, wealth planning, sophisticated asset management are all examples of areas where families have needs, but don't necessarily know how they can best be addressed,” said the judges. “Through their 'Guiding the next Generation' training programme, JP Morgan addresses those client needs.” Investec Trust picked up STEP’s Institutional Trust Company Team of the Year for “perfectly balancing shareholder interests with client service” and Close Trustees was named Independent Trust Company Team of the Year for its contribution to the industry and initiatives in the field of Family Office management. In the Private Client Team of the Year class, Carey Olson came out on top in the Channel Isles and Isle of Man section for “keeping their clients at the forefront of their minds, particularly by seeking their feedback on how they have performed”, while Appleby took the award in the Caribbean – ”Their staff are especially commended for their sensitive and helpful approach to the demands of trust litigation and constructive advisory work,” said the judges. The North American section went to Cantor & Webb, whose team, said the judges, “has a vast knowledge of estate planning structures in jurisdictions such as Mexico, Venezuela and the UK, and are invaluable to private clients who seek financial security for their families.” Fleming Family and Partners was named Investment Team of the Year for its culture of innovation. New concepts, including an “Independent Point of Contact” who oversees the client relationship, in addition to the client director and fund manager, showed great integrity and professionalism. BDO Stoy Hayward pipped the others to be named Accountancy Team of the Year due to its “welcome focus on staff’s work/life balance and encouraging their training and development on a continual basis.” The Dubai International Financial Centre’s Family Office Initiative won the Best Government Initiative of the Year category. The Judges said: “This initiative will better manage the financial planning and succession issues of large family-owned enterprises in the United Arab Emirates and the region. The judges believe this initiative is the one to watch as our winners create an attractive environment for families from across the globe who wish to oversee their cross-border affairs from a central family office.” “With trillions set to pass between generations by 2040 the Private Client industry is booming. With such a large amount of money in private hands there is a need for good stewardship of assets. STEP is committed to providing high standards in the industry and these awards reflect the fact that standards are rising along with the size of the funds involved,” said STEP chief executive David Harvey.