Accuro Trust (Jersey) shortlisted at the Wealthbriefing European Awards
Paul Douglas, managing director of Accuro Trust (Jersey), describes the characteristics that mark out his business for excellence.
This year the fiduciary industry has continued to show a trend towards institutional and listed ownership. This has posed a key challenge to privately-owned fiduciaries like us.
We continue to compete and win against firms that far exceed our size. We have had a strong performance this year and have used our success as a platform to further assure our ownership and therefore the future of our business. We bucked the trend by buying out our private investor shareholder (who was an
independent lawyer in the private client sector, not a fund) in January. This gave us a confident start to the year and is evidence of our re-investment of capital into the business, not cash extraction.
We have committed to a “no- exit plan” strategy, reassuring our clients that their relationships with us are meaningful, committed for the long term and not driven by short-term gain. Our achievement of true independence in 2020 means that we fully own, control and operate our business without any third party
involvement interference. This enables us to give conflict-free best-of-market support to our clients through our network of like-minded independent private client intermediaries.
This year, clients (and the firms we partner with to service them) have fed back to us that our owner-manager model is an advantage because they prefer the directors’ managing the client business on a daily business to also be the equity owners responsible for the strategy of the firm. This value and relationship
prioritisation has helped us win pitches and increase our referral network.
We have also maintained our niche focus exclusively on the international private client sector and that in turn has helped us win a higher calibre of client with larger portfolios of assets and more complex, demanding structures.
We invest in our people as part of our core mission and this year a team of next generation leaders from across the firm has helped us develop a programme of initiatives for the betterment of our infrastructure, communications and to build efficiencies in our systems. More importantly their steer has also led us to
pursue better working relationships between our team internally and this has in turn generated opportunities and value to our clients.
Our “Accuro Academy” this year also delivered external individual coaching, in-house mentoring and mental health seminars. This was recognised with a win for the ICSA Jersey Award for “Administrator of the Year” and numerous nominations. Our employee Fit and Well Forum has also won multiple awards and in the shift to remote working we were able to seamlessly continue client service whilst protecting our team with advice, support and forums for wellness and stress management during the global crisis.
Acclaim, Wealthbriefing recognises leaders across the global wealth management industry, June 2020