SKOLKOVO Wealth Transformation Centre Presented Investment Preferences of Russia's Wealth Possessors

01.12.2016

Moscow, December 1, 2016. – SKOLKOVO Wealth Transformation Centre has presented its new Investment Preferences of Russia’s Wealth Possessors study. The study results were first discussed by market players at the Wealth Knowledge Day annual conference. It was held on November 30, 2016 on the School campus and brought together capital managers, family offices, and representatives of financial, consulting and law companies. Almost 400 guests took part in the event.

SKOLKOVO: SKOLKOVO Wealth Transformation Centre Presented Investment Preferences of Russia's Wealth Possessors

In his opening speech at the conference, Andrei Sharonov, President of the Moscow School of Management SKOLKOVO, particularly noted: “We are glad to hold this flagship private wealth event once again. Like the year ago, during this year’s study we managed to interview many interesting and, in every sense of this word, wealthy people. It will jump-start the wealth management industry in Russia.”

The study results—analysis of investment philosophy of Russia's wealth possessors—were presented at the Conference plenary session. Crucial tasks of the empirical analysis were to identify investment persuasion of Russian entrepreneurs and characterise wealth possessors. Special attention was given to the issues of succession and capital management supporting infrastructure.

Ruben Vardanyan, Chairman of Expert Council of the SKOLKOVO Wealth Transformation Centre: “Ownership does not only mean a lot of pleasure from obtaining various goods and amenities, it also means an immense responsibility. And this responsibility is allocated to the family patriarch, members of the family, managers who work with families. It is impossible to create something in the long term without speaking, without discussions, without in-depth analysis and professional approach”.

Participants were also greeted by Hendrik Geldenhuys, Head of the Central and Eastern European Division, UBS Wealth Management, representative of UBS Bank in the Expert Council of the Centre. He said that “wealth management industry in Russia is likely to become sustainable in terms of potential clients availability and solid professional competition in the areas to be discussed today.”

Alexei Stankevich, Managing Director of Phoenix Advisors, a company specialising in succession planning, wealth management and oversight, working with both wealth possessors and their heirs or successors, remarked that the hypotheses suggested by his colleagues and himself based on their own experiences in major accounts relations have been confirmed by the WTC study results. Consequently, conclusions made during the study are supported by business cases. “WTC studies allow us expanding the knowledge database of our clients and, in fine, offer them the best possible models of succession as well as sets of services ideally corresponding with their needs and preferences,” he said. According to Alexei Stankevich, recently there has been an upsurge in the interest in practical issues of wealth management among professional community and beneficiaries.

To continue discussing the study results along with the most appealing investment directions and ownership and management structures for investments 10 business laboratories were held. Market experts discussed the following topics: real estate investments, healthcare investment attractiveness, impact investments, influences of the deoffshorisation and CRS, ownership and management structures for investments, and the way FinTech changes banks and traditional services.

The Moscow School of Management SKOLKOVO thanks CONFIDERI family office for their support in holding “Deoffshorisation and CRS” Lab, and Sberbank Life Insurance for their support in holding “Ownership and Management Structures for Investments” Lab. An informal networking cocktail reception for the conference participants was sponsored by UBS Bank.

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