Confidence remains high in the long term for international trust and estate business, according to the latest global quarterly confidence survey from the Society of Trust and Estate Practitioners (STEP).
The STEP Longer Term Confidence Index, which looks at the outlook over the next 12 months, remains steady on 32, resulting in the most positive three consecutive quarters recorded on STEP’s index since the beginning of 2010.
The Near Term Confidence Index, which looks at the outlook over the next three months, remains at 11. The measure has now remained unchanged for four consecutive quarters. This index was -13 at the start of 2009.
Commenting on the results, STEP Chief Executive, David Harvey said: “These survey results show our membership has confidence about the long term outlook for trust and estate business, but are still wary of changes to the economy in the short term.”
The quarterly confidence survey looks at members’ views across a wide range of jurisdictions and trust and estate businesses.
The Confidence Indices are constructed by taking the balance of survey respondents replying that they expect business to “improve” or “significantly improve” relative to those expecting business to “decline” or “decline significantly”.
STEP is the worldwide professional body for practitioners in the fields of trusts and estates, executorship and related issues. The society aims to promote the highest professional standards through education and training leading to widely recognised and respected professional qualifications, and also works to demonstrate the value of good stewardship and planning across future generations to governments, professionals, financial institutions and the public.
STEP has over 17,000 members based in 81 countries, with over 6,000 members in the UK. Over 4000 students worldwide are currently studying for STEP qualifications and in the UK STEP supports an extensive regional network providing training and professional development.
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