We were delighted to host the 2023 HUBBIS WEALTH SOLUTIONS FORUM (Dubai) on Wednesday 20th September.

Thankyou to our partners:Platinum: 1291 Group, Henley & Partners, Saxo; Gold: Eton Solutions, Investors Trust, Spencer West, Trident Trust; Silver: GAM Investments, Sun Life Financial, Wealtra; Bronze: J. Rotbart & Co.

These were some of the key topics that will be covered in the Forum:

  • UAE – what are the challenges ahead?
  • How Technology advancements can benefit offshore wealth advisers
  • How can a Wealth Protection Plan help you navigate the many challenges today?
  • UAE continues to attract private wealth clients and advisers
  • How do you create the perfect family office?
  • Transforming a Family Office to Reimagine the Value it Delivers
  • The impact of UAE corporate tax on private wealth
  • Wealth Solutions – Trends and Issues
  • UAE and Regulatory Compliance – what are the potential issues?
  • Digital Platform tools for Wealth Management
  • Business Succession Trust
  • The challenges of continuing the family legacy
  • Helping UHNW Families transfer true wealth


Don't forget to SAVE THE DATE for our 2024 forum to be held on  Wednesday 11th September 2024 - 9.00am to 2.00pm.

Sep 20

HUBBIS WEALTH SOLUTIONS FORUM - Dubai 2023

InterContinental Dubai Festival City, United Arab Emirates

Featured Partners
All Partners

A community of leading organisations within Asian Wealth Management

Featured speakers
All event speakers

Senior figures in Asian Wealth Management are speaking at this event

Marc-Andre Sola

1291 Group

Priyanka Roy Jivani

1291 Group

Mehrez Kheir

Abbey Road Investment

Midya Omar

Al Tamimi & Company

Asghar Abid

Bank of Singapore

Diana Hamade

Diana Hamade Attorneys at Law

Bryan Henning

Eton Solutions

Nirav Dinesh Kumar Shah

FAME Advisory DMCC

Why you should attend Hubbis events

Connect

Connectivity across Private Banking, Independent Wealth Management, Retail Banking, Asset Management, Insurance, Technology, Professional Services and other communities.

Learn

Find out how the industry can develop further & lessons it can learn from elsewhere. Improve skills and knowledge through a practical, enjoyable and interactive learning experience.

Enjoy

Hubbis events are not only consistent, relevant, engaging and unique but also highly positive, and fun experiences.

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PHILIPPINES WEALTH MANAGEMENT FORUM 2024

InterContinental Dubai Festival City, United Arab Emirates

We were delighted to host our annual PHILIPPINES WEALTH MANAGEMENT FORUM on Wednesday 20t...

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Event Agenda
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  • 8.30am

    Registration

  • 8.55am

    Welcome Address

    Michael Stanhope

    Founder & Chief Executive Officer

    Hubbis

  • 9.00am

    Panel Discussion

    Is the UAE on Track to Become a World-Class Wealth Management and Wealth Structuring Centre

    • Where does the UAE stand on the world stage as a private wealth management and structuring centre?
    • What particular competitive advantages does the UAE offer private clients compared to other major offshore centres?
    • Is the UAE relevant to both local Middle Eastern and also for international private clients?
    • Is the regulatory environment keeping pace with the growth in AUM and rising client numbers? What needs to change?
    • Do Clients want to book assets in the UAE and are the banks leading or following?
    • Is wealth planning & structuring expanding robustly and where is the demand coming from?
    • Is there a sufficiently deep ecosystem of professional local, regional and international private banks, EAMs, and MFOs?
    • Is the Single-Family Office market on track to develop further and is the UAE attracting only local or also international UHNW families?
    • Is there a sufficiently deep ecosystem of legal and fiduciary expertise?
    • Are there enough experienced Private Wealth Professionals/Advisors? What can be done to boost and enhance the talent pool?

    Chair

    Dave Lange

    General Manager

    Trident Trust

    Speakers

    Damian Hitchen

    Chief Executive Officer, MENA

    Saxo

    Tim Denton

    Executive Vice President, Head of Wealth Structuring

    Habib Bank AG Zurich

    Karim Ghandour

    Founder and CEO

    Legacy Line Family Office

    Asghar Abid

    Executive Director, Head of Wealth Planning - DIFC Dubai

    Bank of Singapore

  • 9.30am

    Presentation - The Opportunities, Challenges and Dilemmas facing Middle East Advisers in 2023

    Philip Story

    Senior Executive Officer and Head of Distribution EMEA

    Investors Trust

    Phil will explore the vast opportunities available to financial advisers in a region experiencing rapid economic growth and diversification. From wealth management, to guiding startups, the Middle East presents a multitude of opportunities.  However, with these opportunities come unique challenges. Navigating the diverse regulatory frameworks within and across different countries, cultural sensitivities, and the complexities of Sharia-compliant finance. We'll examine how financial advisers can adapt and thrive in this complex environment. Finally, we will look at some of the ethical dilemmas that financial advisers encounter daily, balancing fiduciary responsibilities with cultural expectations, avoiding conflicts of interest, and ensuring transparency are vital aspects of maintaining trust in a diverse clientele.

  • 9.45am

    Presentation - How can a Wealth Protection Plan help you navigate the many challenges today?

    Marc-Andre Sola

    Founder & Chairman

    1291 Group

    In today‘s world UHNW families are exposed to many challenges that potentially destroy their wealth - global fiscal controls, international transparency, cross boarder regulations and political uncertainty – to name a few. As Professionals we face overwhelming legal and reputational risks. How can a solid Wealth Protection Plan help overcome these issues?

    • What does Wealth Protection Planning mean?
    • How does a great Wealth Protection Plan help clients and Professionals!
    • What solutions are available and how are they different?
    • What are the highlights of the most complete Wealth Protection Plan?
  • 10.00am

    Presentation - UAE continues to attract private wealth clients and advisers

    Philippe Amarante

    Managing Partner, Head of Dubai and Pakistan

    Henley & Partners

    • Latest insights across the spectrum
    • The Equilibrium of lifestyle and investment – a case study
    • The fight for financial capital continues to rise in the region
  • 10.15am

    Panel Discussion

    How do you Create the Perfect Single-Family Office (SFO)?

    • What are the key considerations around establishing a Single-Family Office (SFO) for a UNHW family?
    • What scale of family AUM makes an SFO a worthwhile exercise and why?
    • What are the key differences for families to consider if they are setting up smaller SFOs (up to USD250m) or larger SFOs (USD250-billions)?
    • What technology can these SFOs avail themselves of?
    • What sort of talent is available for SFO staffing in the UAE? What more can be done to expand the talent pool?
    • How does an SFO curate a highly professional and trustworthy advisory ecosystem of specialist wealth, asset, fiduciary, legal, accounting, and other experts in the UAE?
    • What advantages does the UAE have to offer families establishing SFOs?
    • How do the different centres compare in their offerings for SFOs, such as the DIFC, or ADGM and others?
    • Is there sufficiently deep expertise to support SFOs in their wealth structuring and planning missions?
    • What are the key differences between SFOs and MFOs and what are the key considerations for MFOs establishing a presence in the UAE?

    Chair

    Bryan Henning

    SVP, Head of International

    Eton Solutions

    Speakers

    Mehrez Kheir

    Partner and Managing Director

    Abbey Road Investment

    George Stoyanov

    Senior Partner and Head of Advisory

    Grant Thornton

    Yann Mrazek

    Managing Partner

    M/HQ

  • 10.45am

    Presentation - Developing a Diagnostic and Remediation Plan for an UHNW Family

    Mark Smallwood

    CEO, Rapier Consulting. And Engagement & Consultant Partner,

    Hubbis

    UHNW Client’s often approach their asset and wealth management process in a fractured and non-systematic process, often alienated from the core operating business asset base. In this short presentation Mark will address the key components necessary for an UHNW family to develop a sound understanding of their existing asset disposition and family base from which a remediation plan can be developed.

  • 11.00am

    Refreshment & Networking

  • 11.30am

    Presentation - Transforming a Family Office to Reimagine the Value it Delivers

    Bryan Henning

    SVP, Head of International

    Eton Solutions

    • Setting up a family office to deliver scalable advantage for tomorrow
    • Using technology to create operational leverage and efficiencies
    • Digitalising governance functions within the Family Office and across family members and key advisors
  • 11.45am

    Panel Discussion

    The impact of UAE corporate tax on private wealth

    • What are the hot topics currently around tax and private wealth?
    • What are the potential consequences of the new corporate income tax law?
    • Will this effect private wealth?
    • What is the taxability of private wealth in the UAE/GCC
    • Foundations and the new Corporate Income Tax law – challenges?
    • Ownership of real estate – challenges?
    • Participating interests of UAE companies or foundations.
    • Now there is a corporate tax law in the UAE – how does this effect families thinking in comparison to other options like Saudi Arabia?
    • PE and POEM considerations and risks.
    • Double Taxation treaties and the UAE.

    Chair

    Aakriti Sharma

    Senior Associate (Tax)

    Hourani & Partners

    Speakers

    Zain Satardien

    Counsel

    Hourani & Partners

    Anuj R Kapoor

    International Tax Partner

    Grant Thornton

    Midya Omar

    Tax Lawyer

    Al Tamimi & Company

    Nirav Dinesh Kumar Shah

    Founder and Managing Director

    FAME Advisory DMCC

  • 12.15pm

    Panel Discussion

    Wealth Structuring & Solutions – The Key Considerations and Issues

    • What in your opinion are the essential ingredients to a successful estate & succession plan – how are HNW and UHNW families in UAE approaching this?
    • What stumbling blocks do you come across? What cultural challenges and solutions?
    • Who creates the initiative in the family? Challenges the trusted advisors face when advising the Family and how are lawyers and external advisors incorporated into the process?
    • How is the use of UAE Wills developing – what are the issues and challenges?
    • DIFC, ADGM and Domestic Trusts vs. Offshore Trusts? Are domestic trusts being utilised and how, and where do the offshore trusts fit in.
    • What is the interest in DIFC/ADGM Foundations and Sharia Law solutions? Are wealth managers and fiduciaries sufficiently focused on these solutions?
    • What are the Popular Offshore Jurisdictions for UAE residents?
    • Is there enough focus on Governance and is the supply of qualified advisors sufficient?
    • How are UAE residents approaching the use of life insurance as part of the solutions?

    Chair

    Sunita Singh-Dalal

    Partner, Private Wealth & Family Offices

    Hourani & Partners

    Speakers

    Tan Woon Hum

    Partner, Head of Trust, Asset & Wealth Management Practice

    Shook Lin & Bok

    Zac Lucas

    Partner – International Private Wealth

    Spencer West

    Diana Hamade

    Managing Partner

    Diana Hamade Attorneys at Law

  • 12.45pm

    Panel Discussion

    UAE and Regulatory Compliance – what are the potential issues?

    • What are the key regulatory and compliance issues to consider when organising robust estate and business succession and structuring?
    • What issues are specific to the UAE (beyond normal issues one would face in other leading jurisdictions)?
    • What impact has the FATF Grey List had (from February 2022)
    • What is the Impact of the EU Black List (from March 2023)
    • What are the global or regional Regulatory Actions or Changes ahead?
    • How do you ensure privacy and cyber-security and what happens if things go wrong?
    • What are the key regulatory issues to consider related to onshore Wealth Structures?
    • What are the key regulatory issues to consider related to offshore Wealth Structures?

    Chair

    Mark Smallwood

    CEO, Rapier Consulting. And Engagement & Consultant Partner,

    Hubbis

    Speakers

    Zac Lucas

    Partner – International Private Wealth

    Spencer West

    Dave Lange

    General Manager

    Trident Trust

    Alastair Glover

    Partner

    Stephenson Harwood

  • 1.15pm

    Lunch & Networking

  • 2.00pm

    Workshop - What to consider when choosing a wealth manager and Service provider

    Nicholas Wright

    Regional Head of Institutional Business

    Saxo

    • What trends to be mindful of both globally and in the region
    • Providing an offering with the right mix of: safety of Assets, Product offering, Tools and Service.
  • 2.30pm

    Workshop - Business Succession Trust

    Zac Lucas

    Partner – International Private Wealth

    Spencer West

    • Trust Structure and Jurisdiction Options
    • Key Governance Requirements
    • Common Pitfalls and Mistakes
  • 3.00pm

    Panel Discussion

    What are the HNW Life Insurance Options?

    • How do you choose? - Whole Life, Term Life, UL, VUL, IUL and PPLI.
    • More product choice is confusing – how can we present the right opportunities to clients today?
    • Key mistakes that clients make in choosing life insurance?
    • What differences are you seeing between the needs of European clients’ and Clients in the Asia?
    • One of the issues with Life Insurance is that everyone (providers and brokers) focus on products – apart from the client, who thinks about their actual needs? To what extent must this change?
    • If you work directly with private clients, how should you begin the conversations, how should you then work with the specialist distributors and agencies to further advance these solutions for Asia’s private clients, and very importantly, how do you participate properly and legally in the fee income/commissions?
    • Does the average private banker or EAM RM/advisor understand enough about the life products and solutions, or what needs to happen to boost their knowledge, engagement and involvement?

    Chair

    Mark Smallwood

    CEO, Rapier Consulting. And Engagement & Consultant Partner,

    Hubbis

    Speakers

    David Varley

    Chief Partnership Officer - Brokerage, International HuBS

    Sun Life

    Priyanka Roy Jivani

    Partner

    1291 Group

  • 3.40pm

    Refreshment & Networking

  • 4.00pm

    Head - to - Head Q & A - How should Middle East UHNW Families optimize their investment Portfolio?

    Philip Rosenberg

    Managing Director and Head of Distribution - Middle East

    GAM Investments

    • Private markets
    • Alpha vs passive
    • Art and Science
  • 4.15pm

    Panel Discussion

    Empathy & Understanding in Wealth Structuring - the 'Softer' Side of Helping Families Succeed

    • Wealth structuring is not only about technicalities and legalities, so what are the key ‘softer’ elements of the process that must be identified, addressed and then carefully managed?
    • What role could or should the private banker of wealth advisor play in nurturing these wealthy families towards taking the right steps and including the different generations in the overall solutions?
    • How do these families manage the right levels of communication and transparency throughout the process?
    • How long does it all take and how patient do the participants need to be?
    • How do you manage the gaps – sometimes chasms – in hopes and expectations between the different generations?
    • Why are family cohesiveness and well-being so important in estate and succession planning?
    • The Missing Piece in Holistic Continuity Audit: Integrative Family Dynamics
    • How can families adapt if the younger generations do not wish to take over family businesses?
    • What are the magic ingredients of a truly successful wealth & estate succession plan?

    Chair

    Michael Stanhope

    Founder & Chief Executive Officer

    Hubbis

    Speakers

    Sunita Singh-Dalal

    Partner, Private Wealth & Family Offices

    Hourani & Partners

    Zac Lucas

    Partner – International Private Wealth

    Spencer West

    Mark Smallwood

    CEO, Rapier Consulting. And Engagement & Consultant Partner,

    Hubbis

    Dave Lange

    General Manager

    Trident Trust

  • 5.00pm

    Forum Ends

Sep 20

HUBBIS WEALTH SOLUTIONS FORUM - Dubai 2023

InterContinental Dubai Festival City,United Arab Emirates

Speakers

Marc-Andre Sola

1291 Group

Priyanka Roy Jivani

1291 Group

Mehrez Kheir

Abbey Road Investment

Midya Omar

Al Tamimi & Company

Asghar Abid

Bank of Singapore

Diana Hamade

Diana Hamade Attorneys at Law

Bryan Henning

Eton Solutions

Nirav Dinesh Kumar Shah

FAME Advisory DMCC

Philip Rosenberg

GAM Investments

Anuj R Kapoor

Grant Thornton

George Stoyanov

Grant Thornton

Tim Denton

Habib Bank AG Zurich

Philippe Amarante

Henley & Partners

Sunita Singh-Dalal

Hourani & Partners

Zain Satardien

Hourani & Partners

Aakriti Sharma

Hourani & Partners

Mark Smallwood

Hubbis

Philip Story

Investors Trust

Karim Ghandour

Legacy Line Family Office

Yann Mrazek

M/HQ

Nicholas Wright

Saxo

Damian Hitchen

Saxo

Tan Woon Hum

Shook Lin & Bok

Zac Lucas

Spencer West

Alastair Glover

Stephenson Harwood

David Varley

Sun Life

Dave Lange

Trident Trust

Sep 20

HUBBIS WEALTH SOLUTIONS FORUM - Dubai 2023

InterContinental Dubai Festival City,United Arab Emirates

Partners

platinum

gold

silver

bronze

Sep 20

HUBBIS WEALTH SOLUTIONS FORUM - Dubai 2023

InterContinental Dubai Festival City,United Arab Emirates

Summary

Setting the Scene for the 2023 Forum

Approaching private clients on matters of wealth structuring and estate planning is difficult anywhere in the world, and perhaps especially sensitive in some parts of the Middle East. The September 20 Hubbis Wealth Solutions Forum (Dubai) will see an erudite group of expert speakers review the state of the wealth management industry in the region, and in particular survey the evolution of carefully planned and well-executed wealth, estate and succession planning and structuring, all from the perspective of the engagement with the client base and the nurturing of the right types of discussions around these important subjects.

The mission is to help unravel the nuances of the right approaches, and how the wealth industry and associated advisors can encourage private clients in the region to adopt the best products, solutions and structures to safeguard and build their investible wealth in their lifetimes, as well as to help facilitate the transition of their estate to their loved ones later on.

Estate and succession planning & solutions are certainly key areas for rising emphasis in the UAE, as the founder generations in the region age and as the younger generations return from overseas armed with their Western education. Moreover, the UAE is developing its wealth management, fiduciary and professional services skills and focus, in order to build its reputation as both a regional and indeed global centre for wealth structuring and solutions. How is that developing and what else is needed in the future, and why?

For wealth management to thrive in the UAE, there is accordingly no doubt that the quality of advice on investments, wealth structuring, and estate planning must all improve; hence there is a growing emphasis on both the professionalisation and related expansion of the products and solutions the broad remit of the wealth industry and professional services and fiduciary firms can offer in order to keep their private clients engaged, and well organised.

Join us on September 20 for what will be an insightful, informative, and thought-provoking event. And remember, to give you even more understanding of what you can expect from the 2023 event, you can CLICK HERE to view the Agenda and Speakers from our very successful 2022 event. And CLICK HERE to view selected reports from the 2022 Forum.

Sep 20

HUBBIS WEALTH SOLUTIONS FORUM - Dubai 2023

InterContinental Dubai Festival City,United Arab Emirates

Event Highlights

We're thrilled to announce that our 2023 Hubbis Wealth Solutions Forum in Dubai was a tremendous success!

The 2023 Dubai Forum provided a comprehensive platform for discussing a rich array of topics that resonated with our over 250 attendees. Discussions included the challenges and opportunities in the UAE's financial landscape, the role of technology in offshore wealth management, and the importance of Wealth Protection Plans. The event also covered trends in family offices, the impact of UAE corporate tax changes, regulatory compliance considerations, and digital tools for wealth management. Business succession and the transfer of both financial and true wealth within families were also key points of focus.

Many thanks to our sponsors -

  • Platinum: 1291 Group, Henley & Partners, Saxo
  • Gold: Eton Solutions, Investors Trust, Spencer West, Trident Trust
  • Silver: GAM Investments, Sun Life Financial, Wealtra
  • Bronze: J. Rotbart & Co.

 

We hope you enjoy the below content curated from the event, gathered from what was a very successful forum. And we look forward to welcoming you to our 2024 Hubbis Wealth Solutions Forum - Dubai, which will be taking place on Wednesday 11th September. Be sure to save the date!

CLICK HERE to view the photos from the forum. And CLICK HERE to view the testimonials we received from this event.

And CLICK HERE to view the Content Summary produced for this forum.

 

Panel Discussions On Demand

Is the UAE on Track to Become a World-Class Wealth Management and Wealth Structuring Centre?

The opening panel at the Hubbis Wealth Solutions Forum - Dubai 2023 delved into the complexities and prospects of the UAE's role in global wealth management and structuring. These ranged from the UAE's competitive advantages and relevance to both local and international clients, to the regulatory climate and its adequacy for the sector's growth. We also explored the depth of the professional ecosystem available in the region, the Single-Family Office market, and the need for talent enhancement in the realm of private wealth professionals and advisors. The panel provided invaluable insights into the UAE's trajectory toward becoming a world-class hub for wealth management and structuring.

The discussion was chaired by Dave Lange, Senior Executive Officer at Trident Trust, and featured Damian Hitchen, Chief Executive Officer, MENA, Saxo; Tim Denton, Executive Vice President, Head of Wealth Structuring, Habib Bank AG Zurich; Karim Ghandour, Founder and CEO, Legacy Line Family Office; and Asghar Abid Executive Director, Head of Wealth Planning - DIFC Dubai Bank of Singapore.

CLICK HERE to view this Panel Discussion On Demand.


How do you Create the Perfect Single-Family Office (SFO)?

The second panel at the Hubbis Wealth Solutions Forum - Dubai 2023 thoroughly examined the nuances of creating the perfect Single-Family Office (SFO). Discussions highlighted key considerations for Ultra-High-Net-Worth families, such as the scale of assets under management that makes establishing an SFO worthwhile. The panel also contrasted smaller SFOs (up to USD 250m) with larger ones (USD 250m-billions), considered available technology, and evaluated the talent pool in the UAE. Additional insights included how SFOs can build a professional and trustworthy advisory ecosystem in the UAE and the advantages the country offers to families setting up SFOs. Comparisons between various financial centers like the DIFC and ADGM were also discussed, as well as the expertise available for wealth structuring and planning.

The discussion was chaired by Bryan Henning, SVP, Head of International at Eton Solutions, and featured Mehrez Kheir, Partner and Managing Director, Abbey Road Investment; George Stoyanov, Senior Partner and Head of Advisory, Grant Thornton; and Yann Mrazek, Managing Partner, M/HQ. The panel yielded invaluable insights into both the challenges and opportunities for SFOs in the UAE.

CLICK HERE to view this Panel Discussion On Demand.

 

The Impact of UAE Corporate Tax on Private Wealth

The third panel at the Hubbis Wealth Solutions Forum - Dubai 2023 provided a comprehensive look at the impact of the UAE's new corporate tax law on private wealth. The discussion covered hot topics in taxation, exploring the potential consequences of the law on private wealth and asset structures. The panel also discussed taxability specifics in the UAE and GCC, challenges posed to foundations and real estate ownership, as well as considerations around participating interests of UAE companies or foundations. Additional insights were offered on how the new tax law might shift family strategies in the region, particularly in comparison to other options like Saudi Arabia. The session also delved into PE and POEM risks, and the implications of Double Taxation treaties in the UAE.

The discussion was chaired by Aakriti Sharma, Senior Associate (Tax) at Hourani & Partners, and featured speakers Zain Satardien, Counsel, Hourani & Partners; Anuj R Kapoor, International Tax Partner, Grant Thornton; Midya Omar, Tax Lawyer, Al Tamimi & Company; and Nirav Dinesh Kumar Shah, Founder and Managing Director, FAME Advisory DMCC. This panel offered invaluable perspectives on navigating the evolving tax landscape in the UAE.

CLICK HERE to view this Panel Discussion On Demand.

Or CLICK HERE to view the Write-Up of this panel.

 

Wealth Structuring & Solutions – The Key Considerations and Issues

The fourth panel at the Hubbis Wealth Solutions Forum - Dubai 2023 offered a deep dive into the key considerations and challenges of wealth structuring and solutions. Topics ranged from the vital components for successful estate and succession planning among High-Net-Worth and Ultra-High-Net-Worth families in the UAE, to cultural obstacles and solutions. The panel also discussed the role of trusted advisors and how legal experts are incorporated into family initiatives. Various types of trusts, including those offered by DIFC and ADGM, as well as offshore options, were scrutinized. Furthermore, the focus turned to DIFC/ADGM foundations, Sharia Law solutions, and popular offshore jurisdictions for UAE residents. The conversation also touched upon the availability of qualified advisors, governance considerations, and the role of life insurance in wealth planning strategies.

The discussion was chaired by Sunita Singh-Dalal, Partner, Private Wealth & Family Offices at Hourani & Partners. Speakers included Tan Woon Hum, Partner, Head of Trust, Asset & Wealth Management Practice at Shook Lin & Bok; Zac Lucas, Partner – International Private Wealth at Spencer West; and Diana Hamade, Managing Partner at Diana Hamade Attorneys at Law. This insightful panel provided attendees with a comprehensive understanding of the complexities and opportunities in wealth structuring in the UAE.

CLICK HERE to view this Panel Discussion On Demand.

 

UAE and Regulatory Compliance – What are the potential issues?

The fifth panel at the Hubbis Wealth Solutions Forum - Dubai 2023 addressed the intricate landscape of regulatory compliance specific to the UAE. Topics covered a wide range of compliance issues relevant to estate, business succession, and wealth structuring, highlighting those unique to the UAE compared to other jurisdictions. The panel delved into the impacts of the FATF Grey List from February 2022 and the EU Black List from March 2023, as well as potential global or regional regulatory changes on the horizon. Cybersecurity and privacy concerns were also examined, alongside specific regulatory considerations for both onshore and offshore wealth structures.

The discussion was chaired by Mark Smallwood, Engagement & Consultant Partner at Hubbis and CEO of Hubbis. Speakers included Zac Lucas, Partner – International Private Wealth at Spencer West; Dave Lange, Senior Executive Officer at Trident Trust; and Alastair Glover, Partner at Stephenson Harwood. This expert panel provided invaluable guidance on navigating the evolving regulatory environment in the UAE, shedding light on key compliance challenges and solutions.

CLICK HERE to view this Panel Discussion On Demand.

 

Empathy & Understanding in Wealth Structuring – the ‘Softer’ Side of Helping Families Succeed

The final panel of the day at the Hubbis Wealth Solutions Forum - Dubai 2023 delved into the often-overlooked emotional and interpersonal aspects of wealth structuring, emphasizing the 'softer' elements crucial for family success. Discussions explored the critical role that private bankers and wealth advisors play in guiding families, including inter-generational considerations. The panel addressed issues of communication, transparency, and the need for patience throughout the wealth structuring process. Further topics included how to manage generational gaps in expectations, the importance of family cohesiveness in estate planning, and the overlooked area of integrative family dynamics. The conversation also explored scenarios where younger generations might not wish to inherit family businesses and identified the 'magic ingredients' of a truly successful estate succession plan.

This unique panel offered a comprehensive perspective on the softer, yet crucial, facets of wealth and estate planning, providing invaluable insights for families and advisors alike.

The discussion was chaired by Michael Stanhope, Founder & Chief Executive Officer at Hubbis. Speakers included Sunita Singh-Dalal, Partner, Private Wealth & Family Offices at Hourani & Partners; Zac Lucas, Partner – International Private Wealth at Spencer West; Mark Smallwood, Engagement & Consultant Partner and CEO at Hubbis; and Dave Lange, Senior Executive Officer at Trident Trust. 

CLICK HERE to view this Panel Discussion On Demand.

 

View the write-ups of the Panel Discussion from this event

Is the UAE Developing into a World-Class Wealth Management and Wealth Structuring Centre?

Where does the UAE stand on the world stage as a private wealth management and structuring centre? What particular competitive advantages does the UAE offer private clients compared to other major offshore centres? Is the UAE relevant to both local Middle Eastern and also to a broad array of international private clients? These and other questions were put to a panel of experts at the Hubbis Wealth Solutions Forum in Dubai on September 20. In a nutshell, the story coming through from their deliberations is that the UAE is making many of the right moves – at the governmental and regulatory levels, as well as amongst the expanding private wealth management ecosystem, but also there is much more work to be done. Tim Denton, Executive Vice President and Head of Wealth Structuring in Dubai for Habib Bank AG Zurich, was one of the experts. He also sits as the Chairman of STEP Arabia, adding weight to his insights. He is remarkably positive about the market’s developments, especially around the expansion of the on-the-ground wealth, structuring, investment advisory and professional services ecosystem. And he is also cognisant of the reality that the UAE is not yet a mature market, but is emerging and maturing at pace and along the right lines.

CLICK HERE to read on.

 

The Journey to the UAE Becoming a World-Class Wealth Management and Wealth Structuring Hub

Singapore has been forging ahead in recent years in terms of its wealth management ecosystem and infrastructure. Bank of Singapore, part of the giant Singaporean banking group OCBC, is one of the rising stars in the world of local and regional Asian private banking and has for some time been enhancing its connectivity and capabilities in the UAE and broader Middle East region. When Hubbis held our recent Wealth Solutions Forum in Dubai on September 20, we invited Asghar Abid, Executive Director and Head of Wealth Planning (DIFC Dubai) for the Bank of Singapore, to offer his perspectives on where the UAE stands on the world stage as a private wealth management and structuring centre. We have extracted and summarised some of his insights from the panel discussion for this short review.

CLICK HERE to read on.

 

Family Office Founder Karim Ghandour Extols the UAE’s Virtues as a Wealth Management & Structuring Hub

Karim Ghandour is the Founder, and CEO of Legacy Line Family Office, an MFO that he established in 2004. Karim began his career in 1993 in Ottawa, Canada, and his career path brought him back to the Middle East, where he works with clients in Lebanon, Saudi Arabia, Jordan and the UAE. He sat as an expert speaker during the September 20 Hubbis Wealth Solutions Forum in Dubai, contributing to a panel discussion on the evolution of the UAE as a wealth management and structuring hub. Hubbis has distilled some of his views for this short review. Karim is remarkably enthusiastic about living and working in Dubai as a business and wealth advisory hub, and noted the entrepreneurial dynamism of the broader region and indeed Africa, opening the doors to ever more HNW and UHNW clients and their families seeking legacy and planning solutions.

CLICK HERE to read on.

 

Navigating Wealth, Conflict, and Learning with Hourani & Partners' Sunita Singh-Dalal

In a panel discussion at the 2023 Hubbis Wealth Solutions Forum in Dubai, Sunita Singh-Dalal, Partner, Private Wealth & Family Offices with Hourani & Partners, delved deep into the nuanced world of private client advisory and wealth planning in the UAE, offering a fresh perspective on how wealth was perceived by different generations, the challenges of conflict resolution in the wealth planning landscape, and the evolving nature of the industry. Drawing from her extensive experience, she had underscored the importance of understanding each family's unique dynamics, the critical role of communication, and the importance of adapting to the changing tides of the industry. Through the course of her discourse, readers were offered a comprehensive understanding of the challenges and rewards inherent to wealth management and succession planning.

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Navigating the Labyrinth of Family Succession and Offering Comprehensive Wealth Solutions with Tan Woon Hum

In an era where family dynamics are as diverse as the global economy, estate planning and wealth management have evolved into sophisticated disciplines. At the recent Hubbis Wealth Solutions Forum in Dubai, Tan Woon Hum, Partner, Head of Trust, Asset & Wealth Management Practice for leading Singapore law firm Shook Lin & Bok, delved into the nuances of these disciplines, shedding light on the challenges and potential solutions for modern families. From the intricacies of personal relationships to the globalisation of business interests, families today face a myriad of considerations when planning for the future. Understanding these nuances, while staying adaptive and attentive to generational shifts, he reports, is paramount.

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Decoding Wealth Structuring in the UAE with Trident Trust’s Dave Lange

In the final panel discussion of the 2023 Hubbis Wealth Solutions Forum in Dubai, Dave Lange, General Manager & Senior Executive Officer at Trident Trust, shared invaluable insights into the multi-faceted world of family wealth management. He delved deep into the challenges families face, the strategies they adopt, and the nuances that make this journey both unique and intricate. Through illustrative examples, he unravelled the complex tapestry of wealth transition, governance, and the vital distinction between customers and clients, offering a thought-provoking contribution to the discussion had.

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Dubai-based International Lawyer Alastair Glover on the Value of Transparency for Wealthy Private Clients

What are the key regulatory and compliance issues to consider when organising robust estate and business succession and structuring for local, regional or international clients through the UAE’s wealth management ecosystem? Are there issues specific to the UAE beyond normal issues one would face in other leading jurisdictions? What impact has the FATF Grey List had since it arrived in February 2022? What about the EU Blacklist since March 2023? What are the key global or regional regulatory actions or changes ahead? What are the key regulatory issues to consider related to offshore wealth structures? The Hubbis Wealth Solutions forum in Dubai on September 20 saw a panel of experts debate these questions and thereby highlight key UAE regulatory issues, idiosyncrasies, and developments for the assembled delegates. One of the speakers was the leading lawyer Alastair Glover, a Dubai-based Partner at Stephenson Harwood. Hubbis has extracted and distilled his observations for this short review. If there is one takeaway from his observations, it is that the regulators in the UAE have ever more rules, but self-regulation is just as vital. He explained how tough it is to become a client of his law firm these days, and how he and colleagues stress the importance of clients working with the best advisors, banks, trustees and other external specialists as they forge their wealth planning and estate structuring.

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View the write-ups of the Presentations and Workshops from this event

The Art of Understanding UHNW Families: Mark Smallwood's Guide to Developing a Diagnostic and Remediation Plan for an UHNW Family

UHNW families the world over are ever more complex in their business dispositions, personal assets, the jurisdictions in which their family members might study, work or live, and in their aspirations, and this is also certainly the case in the Middle East. Trying to understand these families' real situations and their dynamics are vital first steps for any advisor seeking to offer the right formula for their wealth structuring and their estate & succession planning.

At a recent presentation at our Hubbis Wealth Solutions Forum in Dubai, Mark Smallwood, Engagement & Consultant Partner, Hubbis, and CEO, Rapier Consulting Ltd., drawing from his experience as a trusted adviser, delved deep into this theme. Through a synthesis of philosophical musings, diagnostic methodologies, and tangible planning strategies, he illuminated the path to optimal asset and wealth management for UHNW families. This narrative captures the essence of Mark's insights, offering a roadmap for both advisers and clients to navigate the challenging process of wealth management.

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Navigating the New Era of Wealth Management in the UAE with Henley & Partners’ Head of Middle East

At the recent Hubbis Wealth Solutions Forum in Dubai, Philippe Amarante, Head Middle East for global leader in residence and citizenship by investment, Henley & Partners, offered a captivating look into the emerging paradigms of private wealth. With the stunning backdrop of the forum's venue serving as a metaphor for the grandeur of the UAE's achievements, Philippe embarked on an in-depth exploration of the region's rapid development, its increasingly dominant role in global finance, and its pioneering advances in the cryptocurrency landscape. Drawing from the breadth of Henley & Partners' expertise and recent industry reports, he presented a comprehensive view of the factors shaping the world of wealth and investment in the UAE and beyond.

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Opportunities, Challenges and Dilemmas facing Middle East Advisors in 2023

Philip Story, Senior Executive Officer and Head of Distribution EMEA at Investors Trust Phil gave a lively talk to delegates at the Hubbis Wealth Solutions Forum in Dubai on September 20, drilling down to highlight some of the vast opportunities available to financial advisors in a region experiencing rapid economic growth and diversification. From wealth management to guiding startups, he explained that these opportunities often come with unique challenges. It is not that easy to navigate the diverse regulatory frameworks within and across different countries and cultural sensitivities in the Middle East, and to traverse the complexities of Sharia-compliant finance. He examined how financial advisers can adapt and thrive in this complex environment. Philip also looked at some of the ethical dilemmas that financial advisors encounter, balancing fiduciary responsibilities with cultural expectations, avoiding conflicts of interest, and ensuring transparency, all of which are vital aspects in maintaining trust amongst a diverse clientele. Philip’s presentation was in the form of an interactive real-time survey among the delegates. Accordingly, this review serves to set the scene and provide a link for readers to access the slide show, the output from the survey, and Philip’s interpretations of the findings.

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And CLICK HERE to view the excellent Slide Deck for Philip’s Presentation

 

Leading Private Wealth Lawyer Zac Lucas Offers Guidance on the Use and Implementation of a Business Succession Trust

The Hubbis Wealth Solutions Forum in Dubai on September 20 provided delegates with lots of information and interesting concepts to help them deliver smart estate and succession planning ideas to their private clients. One of the experts on display was Zac Lucas, Partner – International Private Wealth at law firm Spencer West. He offered delegates some valuable perspectives on the use of business succession trusts as a key element of robust business family governance and succession planning. He talked them through the relevant trust structure, and the decision-making around jurisdictions. He articulated why governance is so important and how it can be first documented properly, and then communicated to the family members. He alerted the audience to common pitfalls and mistakes that advisors and private clients often fail to appreciate and sidestep. Above all, he offered some colour on what sort of conversations advisors might have with business families to help guide them towards structured solutions that safeguard their businesses and family integrity and cohesiveness.

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How Wealth Managers Should Weigh Up the Value Proposition of the Investment Platform and Wealth Service Providers

Nicholas Wright, Regional Head of Institutional Business (MENA) for Saxo Bank, has some clear insights when it comes to the value propositions that wealth managers need and indeed increasingly expect from external investment platforms and service providers. He told guests at the Hubbis Wealth Solutions Forum in Dubai on September 20 that any such providers to the wealth industry must be mindful of global trends, regional themes and local nuances. He said that the first priority must be to help the wealth managers deliver preservation of wealth and robust investment advice for their own private clients, but aligned with that the firms must provide a very broad range of products, combined with the optimal digital tools to help the wealth managers deliver their own top quality, responsive service to their private clients.

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How Eton Solutions Offers Optimised Operational Technology to Suit All Levels of Family Offices

US-headquartered family office solutions specialist Eton Solutions is making a splash in Asia and the Middle East this year, having opened a new international HQ in Singapore in February and following up with the more recent opening of their Dubai office to cover the Indian sub-continent, the Middle East and Africa. Eton Solutions is working hard to promote the Family Office as a concept, but more specifically to help family founders and existing SFOs and MFOs deliver their family members and end clients fit-for-purpose operations and reporting solutions that are at the forefront technologically and in terms of regulatory compliance. Bryan Henning, SVP and Head of International, Eton Solutions, delivered another informative and educational presentation at the Hubbis Wealth Solutions Forum in Dubai on August 30, highlighting their mission and ambition with clients either indigenous to the Middle East, or from overseas and thinking of setting up an SFO in the UAE, an appealing jurisdiction. Bryan explained in brief about the firm’s family office offerings, and how the firm works closely with the wealth management industry and professionals as well as fiduciary services firms around the world. 

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Many thanks to our over 300 delegates, whose attendance made for a lively and engaging atmosphere. 

Get in touch at [email protected] to find out more about our 2024 events.

 
 
Sep 20

HUBBIS WEALTH SOLUTIONS FORUM - Dubai 2023

InterContinental Dubai Festival City,United Arab Emirates