List on a piece of paper five people who are in your network and write alongside their name what you think they do for their clients – if you struggle, are you able to recommend anyone in your network to your clients for their services –what I call a culture of care?
Caroline’s Club is about matched speed networking, zoom meetings where you meet like-minded professionals and hear their stories of what they do for their clients
Stories are fun and interesting – and are 20 times more likely to be remembered. This is why our matched speed networking zoom calls are all about the stories of our private client professionals and what they do for their clients.
Of course, each ‘story’ is anonymous; we are told not to disclose the real family circumstances and the names are changed to preserve the confidentiality and privacy of our clients.
Here are some examples of what we heard last Thursday at our first matched speed networking zoom meeting…
Garnham Family Office Services – Caroline Garnham
John, over the last twenty-five years, had built a considerable importing business and had invested the profits in a substantial property portfolio of commercial warehouses around airports.
He came to see me because he was concerned as to what would happen to his empire on his death – John is 75.
John’s concern was that he did not own his business empire; it was owned by Swiss trustees and the trust was set up by his father in 1996 on his death.
But the beneficiaries were not only John and his family, but also his sister Janet and her family. He recognised that Janet should benefit – but did not think if fair that she should be entitled to 50%
After exploring the options, we set up for John a Special Purpose Trustee and appointed John’s advisers onto the board – taking care not to make it UK tax resident.
We then started negotiations with Janet in Canada to appoint to her and her family a portion of the trust.
Both John and Janet where delighted with the outcome.
VGS Recruitment Services – David Nield ‘THE CHALLENGE’
At 3pm on Tuesday 18th August our Client, (Asset integrity / Health & Safety Provider), contacted me to say a large nuclear construction site had been given a non-compliance warning because a key part of the project was lacking a Fire Safety Consultant.
Our Client had been given 24 hours to source a Fire Safety Consultant otherwise the Nuclear Authority would begin preparations to close down the project until someone was found.
This would have been disastrous.
The Solution.
Within 3 hours, through our Database and Supply Partners, VGS assembled a list of potentially suitable Candidates.
One of these Candidates had been engaged with the Client 2 years ago on a non-nuclear assignment. One of my Colleagues took references which were so positive we had no concerns about putting them forward with a recommendation, (he came recommended not just by VGS but also by one of our Client’s own Colleagues).
By 1pm the next day the Client and Candidate were on a zoom call and by 2pm the Client had decided the Candidate was perfect, so much so they offered him the role.
To summarise, within 24 hours VGS was able to identify, reference and arrange interviews for the perfect Candidate who is now undergoing the security clearance process with a view to start on Monday 24th August.
We achieved this within 24 hours.
Our secret, - VGS takes the time to thoroughly understand our Client’s needs so that in a time of urgency we are able to quickly, with the minimum of fuss, provide the perfect solution.
We value long-term relationships because it allows us to gain a deep understanding of a Client’s needs, only by understanding them are we able to satisfy them so readily.
Castellet Consulting – Zoe Cousens
I undertook an Investment Review for a client with an investment portfolio valued at CHF114 million. The long-term capital growth objective was not reflected in the portfolio structure, being considerably underweight in equities compared with benchmarks and peer group.
I also noted that the bond issues were denominated in USD rather than CHF although there was no requirement for USD income thereby creating unnecessary currency risk.
The portfolio also held structured products which had been classified as equity; although this type of product is illiquid and has different fundamentals to equities. The rationale for these investments was not clear although the IMA stated that the investment manager could take 3.5% commission from these products!!!
Other areas of concern were high turnover and a lack of diversification with no exposure to asset classes such as infrastructure, precious metals and property.
Performance was also disappointing as the portfolio had consistently lagged its benchmark.
I raised a number of Action Points as a result of which a saving of CHF330,000 in annual fees was achieved.
Territt Associates – Martin Territt
As I mentioned during our Zoom meeting, I’ve recently relocated from Brussels to Dun Laoghaire, a town of 27,000 inhabitants, and four yacht clubs. It’s often called the Monte Carlo of the north!
As a professional lobbyist, I come across many interesting cases, but the one I’ve chosen to share with you was absolutely fascinating.
A major multinational, headquartered in Europe, was running into difficulties with its cross-border trade between the EU and Britain via the Channel Tunnel. It had engaged an Italian law firm, for reasons unknown, to advise but, one million euros in fees later, there was no solution.
In exasperations, the enterprise’s public affairs company approached me to see if I could sort out matters.
Over 48 hours, I carefully perused all the documentation, precisely identified the problem and proposed a solution.
Four densely typed sheets of paper set out the precise problem they were encountering; the legal background and legal remedies available; precedents; the political, social and financial consequences of action and inaction; identified the key players in the European Commission and the European Parliament to be lobbied; and recommended a logical course of action with tight timelines.
The company accepted my advice and had a successful outcome. The only problem for me was that I did not get a million euros in fees!
If you would like to join Caroline’s Club and take part in our matched, speed networking zoom calls click here to register.