In an interview with Citywealth, partner Joshua Rubenstein shared predictions for the coming year's wealth management business in the United States. He discussed trends involving special purpose acquisition companies, global change and privacy.
"Most financial analysts are predicting a tumultuous year for wealth management in the US. I would expect the legal work to follow suit," said Josh, chair of the national Private Wealth Department.
Critically, the legal market will need to keep on top of rapidly evolving developments to be ready to quickly determine which have legs and which may be passing fancies.
"We are watching ESG and crypto closely, both in terms of planning with them for our high-net-worth individual clients, and dealing with them prudently for our corporate fiduciary clients," he said. "The two biggest trends are the rapidity and increasingly unpredictable nature of global change in all areas, and the increasing amount of contentiousness in the private wealth field, making it reasonable to assume that everything we do will be analyzed at some point with a view towards a possible challenge."
"US Wealth Trends 2022," Citywealth, February 22, 2022