Q2, 2023

Contents

The Agenda

14 EDITOR’S LETTER

• By Edwin Smith

16 READERS’ LETTERS

• Our readers share their views

18 DIARY

With private equity investor and author Sachin Khajuria

20 PHILANTHROPY

• With the Helvellyn Foundation’s Lauren and Becky Holmes

22 THE HEDGEHOG

• News from around the HNW universe, from property to fashion and, yes, Nazis

26 BOOKS

Does the Rebel Accountant’s Taxtopia, on the rigged tax system, add up?

28 LIQUID LUNCH

• Peter Hargreaves on being a thorn in the side of Hargreaves Lansdown, and why the West is in financial trouble
• MATTHEW GOODWIN How investors should feel about a likely change of government in 2024
• ANNAMARIA KOERLING While Europe flounders, Singapore is well positioned to reap the benefits of Asia’s continuing growth
• ROBERT AMSTERDAM Why the rise of antisemitism around the world spells danger for UHNWs

33 JOHAN NORBERG

A strident defence of capitalism from the Swedish author and academic

The Briefing 35

Wealth management

• CAN WE FIX IT? Conclusions from the Spear’s Wealth Management Survey 2023

38 DEALING IN FUTURES

• Are wealth management firms practising what they preach when it comes to succession planning?

40 THE FAMILY THAT PARLAYS TOGETHER

• How the Flemings are using the experiences of 150 years to help Stonehage Fleming prosper
• BRAZIL’S BIG MOVE London’s chances of attracting HNW Brazilians who are moving to Europe
• THE SHORT CIRCUIT The modern trend of activist short-sellers investigating firms that might have questionable records