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Pre-conference workshop, Monday, February 23, 2009
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| Hiring, motivating and retaining a competent staff of wealth advisors and private bankers |
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8.30am | Registration and morning coffee
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9am | Finding the right talent to deal with HNW clients
- How private banks and wealth managers are dealing with the large amount of talent now available
- Analyzing and measuring culture fit
- Staffing challenges and strategies best practices
- Key attributes of a successful trusted advisor
- What to look for in relationship managers
- Creating a long-range staffing business plan
- Checklist of challenges to be aware of
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10.15am | Morning refreshment break
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10.30am | How the generational shift plays a part in who you hire
- Baby boomers vs. Gen Xers, vs. Millennials- Implications for staffing
- Matching the right relationship manager to the right client based on generational and cultural differences
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| | Ms. Carol Pepper , Chief Executive Officer & Founder, Pepper International, United States
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11.15am | International movement of talent
- Which countries and companies are importing the most talent
- Where they’re coming from
- Allocating resources for training
- Immigration and visa issues
- How long this imbalance of talent is expected to last
- Case study from a person who’s made the move overseas
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12.15pm | Networking lunch
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1.30pm | The vetting process
- Conducting background checks on key decision makers
- How to extract useful information from references
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| | Ms. Teresa Leigh, Founder, Teresa Leigh Household & Property Management, United States
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2.15pm | Compensation
- Metrics
- Quantitative vs. qualitative?
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3.15pm | Afternoon refreshment break
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3.30pm | Motivation and retention strategies
- Reducing turnover and aligning talent with your firm’s goals
- Challenging your team with executive coaching and leadership development programs
- Creating goodwill through career transition programs
- Managing employee expectations
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4.30pm | End of workshop
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Conference day one, Tuesday, February 24
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8am | Registration and morning coffee
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8.40am | Opening remarks from conference chairman
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8.50am | Welcome address from the Bahamas Government
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| ECONOMICS AND DEMOGRAPHICS: WEALTH AND PROSPERITY IN 2009 |
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9am | World economic outlook: Finding opportunity among the turbulence
- Finding value in understanding risk and diversification
- Sorting through the realities of headline risk vs. real risk
- How HNWs and Family Offices are impacted by the recent industry meltdown
- Capitalizing on the bright spots
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9.30am | Power shift: How today's market volatility is changing the wealth management landscape
- Selling product vs. advice
- Market instability leads to emotional investment decisions
- Managing investor psychology & risk successfully
- Silver lining: opportunity among the rubble
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| EVOLVING PRIVATE BANKING BUSINESS MODELS |
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10am | Keynote presentation: Defining private banking in 2009
- M&A and consolidation among private banks
- Pricing services and measuring profitability
- Are private bankers doing too many things?
- At what wealth level private banking services should be offered
- The blurring difference between a private banker and a wealth manager
- Working without product- how open architecture revolutionized private banking
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| | Mr. Gerard Aquilina, Head of International Private Banking, Barclays Wealth International Private Bank, United Kingdom
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10.30am | Morning refreshment break
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11am | Challenging the traditional business models to create freedom from wealth
- Providing individuals and families with opportunity to live their own terms
- The psychology of the modern global family
- The new importance of being freed from the traditional burdens of wealth management
- Identifying the challenges that the modern family presents to all those who manage inter-generational wealth
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11.30am | Panel: The rise of boutiques and MFOs, and the changing face of the large institutions
- The shift away from the one-stop shop- why large institutions are losing clients
- How soon are boutiques going to start booming?
- Determining what to provide on a private banking platform
- Service agreements, monitoring performance, pricing and profitability
- What you’re providing vs. how you’re providing it
- Determining scope of services: what to provide vs. what to outsource
- The future of large conglomerates
- Getting unbiased research from a buyside or open architecture model
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| | Dr. Steen Ehlern, Managing Director, Ferguson Partners Family Office, Switzerland Ms. Carol Pepper , Chief Executive Officer & Founder, Pepper International, United States Mr. Michael Cole, Executive Vice President and National Director , Wells Fargo Family Wealth Group, United States
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12.10pm | Panel: Transitioning from a transaction-based model to a fee-based model
- Evolving business from a transaction fees to “annuity revenue streams.”
- Attracting clients at different pricing models
- Institutional pricing vs. HNW pricing
- How various compensation and pricing models work differently
- Are traditional private bank lending strategies still a viable business?
- Fees and service charges that make sense
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| | Mr. Alex Suarez, Chairman and CEO, Family Office Bankshares (in organization)
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12.50pm | Networking lunch
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| THE IMPACT OF LEGAL AND REGULATORY ISSUES |
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2pm | Panel: Regulation and compliance changes: protecting your business in a multi-jurisdictional environment
- What opportunities exist for offshore standards between jurisdictions
- How are recent developments in the US impacting offshore jurisdictions
- Anticipating changes to SEC and FSA rules
- Pending litigation and legislation that could impact private banking practices
- Strategies for protecting assets and identity under heightened scrutiny
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2.40pm | Speed Networking
This is the revolutionary, exciting, quick, and non-pressurized way to meet conference attendees and establish connections. Bring lots of business cards, and be on first name terms with senior executives in the private banking industry!
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3.20pm | Afternoon refreshment break
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| BUILDING A BRAND TO ATTRACT AND SERVICE CLIENTS |
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3.50pm | Panel: The art of advice and building trust: why focusing on client needs is important
- Why HNWIs and family offices are not happy with their private bankers
- Strategies for building a credible, trusted personal relationship and interacting with families
- Control and transparency - the role of an advisor
- Coordinating the relationship amongst a group of advisors
- Special advisory services
- Successful platforms for advising and winning new clients: the business development manager vs. the quarterback
- Client retention strategies
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4.30pm | Panel: Branding your business to distinguish yourself and attract the clients you want
- Creating a brand and client base that’s worth something
- Balancing brand image among high-profile clients that do not want to be identified. How potential clients view brands and branding
- Preserving confidentiality
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| PHILANTHROPY IN THE PRIVATE BANK |
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5.10pm | Panel: Making a profit while doing good: the intersection of philanthropy and private banking
- The rapid growth of social entrepreneurship and venture philanthropy
- What role the private banker plays in developing philanthropy plans
- The new profession of advising donors
- Private label donor funds
- Trends in microfinance
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5.50pm | Networking cocktail reception
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Conference day two, Wednesday, February 25, 2009
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8am | Registration and morning coffee
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8.30am | Opening remarks from conference chairman
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| | Mr Sam Luft, Executive Vice President, Head of Investment Management, Credit Agricole Suisse (Bahamas) Ltd, Bahamas
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| TRENDS IN ASSET ALLOCATION AND PORTFOLIO MANAGEMENT |
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8.40am | Panel: Absolute or relative performance: constructing an asset allocation strategy to fit your clients’ risk tolerance
- Basic models that pursue the varying philosophies
- Risk management in asset allocation: Strategies to protect and enhance your assets
- Key things for private clients to be aware of
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| | Mr Sam Luft, Executive Vice President, Head of Investment Management, Credit Agricole Suisse (Bahamas) Ltd, Bahamas
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9.15am | Panel: Private equity & M&A
- Why globalizing the portfolio is important
- Identifying hot investing options in private equity
- Tools being used to assess investment risk and avoiding pitfalls
- Geopolitical instability and its effects on the private equity market
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| | Mr. Mark Laskow, Managing Director & Chief Executive Officer, Greycourt & Co., United States
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9.45am | Refreshment Break
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10.05am | Panel: Hedge Funds and Alternatives
- The future of alternatives
- Which alternative strategies are generating the most alpha
- Due diligence best practices on managers
- Setting realistic return goals
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10.45am | Determining the Proper Role of Gold in Investment Portfolios
- What drives the gold price? Key demand and supply influences
- The investment case for gold: Portfolio diverisfication, inflation protection and safe-haven buying
- What does the US recession imply for the gold price?
- Accessing the gold market
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11.15am | Panel: Resolving global custody concerns
- Obtaining consolidated reports across all financial institutions
- Knowing exactly where your assets are and what they’re worth at all times
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| | Mr. Rick Higgins, Founder & Chief Innovation Officer, WealthTouch, United States
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11.45am | Roundtable discussions
- Table 1: How to follow your money - residency options in the Bahamas
- Table 2: Philanthropy
- Table 3: The hierarchy of risk
- Table 4: High Risk and domestic household staff
- Table 5: Investing in wine
- Table 6: How to select a private bank
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| | Ms. Wendy Warren, Chief Executive Officer & Executive Director, Bahamas Financial Services Board, Bahamas Mr. Alex Suarez, Chairman and CEO, Family Office Bankshares (in organization) Ms. Teresa Leigh, Founder, Teresa Leigh Household & Property Management, United States
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12.25pm | Networking lunch
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| ASSET PROTECTION AND SUCCESSION PLANNING |
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1.40pm | Panel: Structuring family trusts and foundations in a wealth transfer plan
- Private Family Trusts
- Dynasty trust planning and succession
- How the trust is managed
- Fiduciary responsibilities
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| | Mr. Julien Martel, VP and Head of Private Banking, Butterfield Bank (Bahamas), Bahamas
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2.10pm | Panel: Determining the scenarios for selecting the optimal jurisdiction for your private trust companies, foundations & SMART funds
- Differences between the various offshore jurisdictions, and if one is preferential over another
- Understanding the essential differences of the various options and the appropriate use of each vehicle
- Important ancillary considerations
- How to obtain the benefits of blacklisted offshore jurisdictions in an approved jurisdiction
- Onshore vs. offshore asset protection
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| NEW MARKETS, NEW CLIENTS |
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2.50pm | Afternoon refreshment break
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3.15pm | Panel: Asia
- How HNWI demands and private banking services differ between developed and emerging Asian countries
- Investment trends and economic outlook for the region
- Which countries are generating the most wealth, and the drivers creating it
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| | Ms. Samantha Lim, Head - Private Banking Segment; Retail & Consumer Bank, Kuwait Finance House (Malaysia) Berhad, Malaysia
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3.45pm | Panel: Russia and Eastern Europe
- How first generation families are preparing for their first transfer of wealth
- Balancing the clients’ needs with the desire to sell product
- Identifying which countries require higher levels of due diligence and scrutiny, and which are the most transparent
- Why Russian and CEE families and HNWIs prefer local banks over global banks
- What Russian and CEE families and HNWIs look for in asset allocation and private banking services
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4.15pm | Panel: Latin America and the Caribbean
- Why Latin America is seen as a natural market expansion for international private banks
- Opportunities for using the dollar as a base currency for investments in the region
- Identifying the services local HNWs and families are requesting from their bankers
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| | Mr. Dan Wright, SVP & Head of International Wealth, Scotiabank, Canada
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4.55pm | End of main conference
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Post-conference workshop, Thursday, February 26
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| International tax planning |
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8.30am | Registration and morning coffee
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9am | Workshop begins
With “tax shelter” becoming a dirty word, and many global regulators scrutinizing their use, high net worth individuals and family offices are looking for new ways to maximize their tax benefits with a comprehensive plan. To navigate the tax landscape during these uncertain times, join the world’s leading tax planning experts as they walk you through an in-depth and interactive workshop designed to help you establish a workable tax and estate plan for the near, medium, and long term.
Topics to be covered include:
- Potential changes to the US tax code under a new presidential administration
- Tax planning under UK and Swiss tax regulations
- Minimizing liability through favorable tax jurisdictions like the Bahamas
- Protecting assets for future generations by limiting liability for heirs
- Coordinating a tax and estate plan across multiple jurisdictions for international families
- Identifying consequences from the UBS/Lichtenstein case
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5pm | End of workshop
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