See the photos from the exclusive Supreme Court launch party here.
Top figures from the wealth management industry turned out in force for an exclusive champagne reception at The Supreme Court last week where Spear’s was proud to partner with international law firm Taylor Wessing to launch the Survival Guide to Trophy Assets, a publication focused on managing disputes over trophy assets (what Taylor Wessing likes to call ‘passion investments’). [See photos below.]
The guide, which follows on from last year’s Guide to Trophy Assets, focuses on what to do to prevent and if necessary, manage disputes when investing in or disposing of trophy assets including classic cars, superyachts, private jets, art, hotels, and commercial and residential property.
‘Disputes appear in all shapes and sizes and cover many different problems ranging from misrepresentation of classic cars, to suing a vet for professional negligence when purchasing a racehorse, to a complete breakdown of understanding between hotel owners and operators, all of which are covered in this guide,’ the firm said in its release statement.
‘It is also an unfortunate fact of life that the trophy asset market is a target for fraudsters waiting to take advantage. In this publication, Taylor Wessing's experts set some guidelines on managing these risks, to help stay one step ahead of the wrongdoers.’
The Survival Guide to Trophy Assets also features experts from Taylor Wessing’s respected contentious trusts, tax, financial services regulatory and data protection teams.
Nick Warr, Head of International Private Wealth at Taylor Wessing said:
‘In a world of low returns, more mainstream asset classes are being outperformed by alternative investments and in many cases by passion investments, like some of those highlighted in this guide. Our high net worth clients are looking for an increasingly diverse asset base and as part of this, trophy asset investments are a target for the wealthy as an effective way to store value. This product showcases the breadth and depth of expertise in our private wealth group and also demonstrates that we are one of the few international law firms that are able to assist clients with a combined offering which covers both private client and corporate needs.’
Shane Gleghorn, Head of Disputes and Investigations (UK) at Taylor Wessing added:
‘It will come as no surprise to those operating in the private wealth sector that disputes concerning the ownership of passion investments are all too often a regular occurrence that can result in significant financial and emotional consequences. Our team of contentious experts are well versed in advising clients on issues relating to trophy assets and this publication sets out to explore some of the areas that we, as an international law firm, have advised our high net worth clients and advisers when they sought to invest in, or dispose of, their assets of passion.’
You can see more photos of the event below.