Adding to further evidence that the centre of economic
gravity has been shifting eastwards, a recent poll of 60 specialist
international advisors in the UK
for ultra high net worth clients suggests that Singapore,
Hong Kong and eventually, Shanghai
will lead the world as financial hubs.
The poll was carried out by Scorpio Partnership, the
consultancy for wealth management, providing insights to Kaiser Partner, the
Liechtenstein-headquartered wealth management business.
However, Kaiser Partner was unsurprisingly pleased that
Liechtenstein has been identified by the survey
respondents as an “up and coming” centre, a move the firm say has been
encouraged by the tiny state’s recent moves to crack down on tax evaders
through developments such as its disclosure facility agreement with the UK government.
“Recent developments such as the Liechtenstein Disclosure
Facility were referenced as innovative steps to support the changing dynamics
wealth management,” Kaiser Partner said in a report.
“Meanwhile with reference to the core areas of interest of
UHNW investors when it comes to wealth management, the professional industry
rated that the most effort and importance is attributed to securing the
financial security of their family. This ranked significantly higher than broader
factors such as utilising their wealth for environmental responsibility and
charitable activities,” the survey said.