Rich pickings

Succession planning is gaining a higher profile in the range of services offered by private banks. Traditionally, succession planning was a discrete service as a number of private banking clients were family connected and had already made succession arrangements, or at least were familiar with the issues. Since the boom of the 1990s, however, a new generation of self-made high net worth individuals (HNWIs) have come into the market and are now starting to confront the issue of succession planning. As with all new trends this is presenting private banks with opportunities ' and challenge...