We are pleased to report that the development of the accounting features within WealthWorks+ has now begun. Work has begun on the features currently available within Troika to replace the data entry options with a web-based interface. This is a huge undertaking and will take some time, but the new system will be available for […]
The rise of regulations Today’s Wealth Managers have a burden of responsibility to meet global anti-money laundering regulations and one of the most critical, yet challenging obligations can be checking a client’s Source of Funds and Source of Wealth. Source of Funds and Source of Wealth checking are so important because they are the foundation in establishing the financial background of a client and the cornerstone of Enhanced Due Diligence. Both
Needing a Trust alternative Since 2006 Trusts have become less attractive as a structure for managing family wealth due to increasing restrictions and greater regulations. The wealth management market started searching for an alternative that could offer the wealth protection that used to make Trusts so appealing but with greater tax efficiencies. Along came the
In between lockdowns, thewealthworks’ Director Offshore Operations, Duncan Alexander, set off to Mauritius for a 6-month secondment to establish an official company presence on the island. thewealthworks already have a client-base in Mauritius, but as the global reach of our entity management software increases, we wanted to ensure that we can continue to provide our
Trusts are a popular vehicle for protecting wealth or reducing tax liabilities, but it cannot be denied that the number of trusts in existence seem to be in decline. In 2005 there were over 220,000 trusts that submitted Self-Assessment forms, which was 70,000 more than in the latest Government figures from 2019 Trusts statistics October
Trusts have long been used for tax planning, but while in the past they may have been reserved for the wealthy; Trusts are now more commonplace for a much wider range of clients. Many practitioners predicted the death of the Trust after the new Finance Act 2006 come into effect, and while the number of
With the COVID-19 spread still continuing and Government policy still evolving we have made plans to ensure that we can continue effectively as a business and provide our customers with support for their system usage in the UK and across all of our customer base. As from 1 January 2021, we have limited our office
“With the COVID-19 spread continuing and Government policy evolving we have made plans to ensure that we can continue effectively as a business and provide our customers with support for their system usage in the UK and across all of our customer base. “We have made arrangements so that if necessary the business will currently
Do you believe in curses? From folklore to Hollywood blockbusters, there is no shortage of stories about supernatural forces. I, for one, have always been enthralled by the supernatural, my favourite book as a young teen was about unexplained phenomena. With a rather ominous looking skull on the front cover, I was fascinated by the
thewealthworks are returning as a 2019 sponsor of the STEP UK Tax, Trusts and Estates Conference at the QEII Centre in London on 27 November. We are very excited to be sponsoring the annual STEP conference again. As always STEP have a panel of leading experts including the renowned Prof. Lesley King TEP who will