Awards

STEP 60-second interview with Natacha Onawelho-Loren

What is your role within your firm?

I am the managing director of the Accuro Group’s Swiss office.

How did it feel to win a STEP Private Client Award for Trust Company of the Year (midsize firm) last year?

It was a joyful and rewarding occasion. As the award ceremony was held virtually for the first time, we organised an internal event around it, with one of us sharing his computer screen to everyone who had tuned in. This meant that, unlike a ‘normal’ year where only a few would be able to attend the ceremony live, most of us heard the award announcement at the same time. It was a wonderful moment of togetherness and joy

Why is winning a STEP PCA important to your firm?

STEP is the ultimate accolade in our industry. Winning an award is recognition from our peers that all our efforts and hard work have not gone unnoticed.

We have been on quite a journey since 2017, when we completed the first part of our management buyout. We are now fully independent, and have the luxury of being able to take the long-term view, both for our clients and ourselves, without having to compromise on our independence of mind and action.

What are the main challenges facing your organisation at the moment?

Apart from the pandemic and the challenge of remote working, we are determined to be a force for good socially and environmentally, whilst doing well as a business. The private wealth sector may at times be painted with a tarnished brush, and our aim is to raise awareness and to facilitate responsible wealth and legacy, including addressing inequality and care of our planet.

How will you deal with these challenges?

We are addressing this challenge inwardly and outwardly, circumstances allowing. Inwardly, by making a strong commitment to all our colleagues in terms of corporate governance, profit share, mental health, diversity and inclusion in the work place. Outwardly, by initiating discussions with some of the families we take care of, in the area of Environmental, Social, and Corporate Governance (ESG) and socially-responsible wealth.

What do you like best about your job?

The ability to meet people of different horizons on different paths in life, and to participate, as much as we can, to their long-term well-being as well as to that of their loved ones.

… and what do you feel is most worthwhile?

We are working in an industry which combines family/personal dynamics with wealth accumulation, wealth preservation and eventually wealth succession. This is quite a challenging mix. Yet, if you get it right in your own role (and for us at Accuro it means being a good trustee) it can be very rewarding.

What would you say to a young person thinking of a career in this industry?

I re-discovered how fun, rewarding and interesting my job is a few years ago, when I gave a lecture for STEP on how to be a good trustee. The role is extremely demanding and requires the ability to navigate complex legal and regulatory rules with an ability to forge long-term meaningful relationships.

I’d advise a young person to look for a company with a solid infrastructure and a strong, cohesive team, both internally and externally, as the ability to cooperate within and outside the industry should not be underestimated if you are to look after your clients.

It is a career where no two days are alike and which can be unpredictable. However, and at the risk of repeating myself, it can be very rewarding and a lot of fun.

Where do you see future growth, both in terms of sectors and jurisdictions?

Growth will come from entrepreneurs operating ‘COVID-winner’ enterprises, especially from the Middle East, Asia, South America and Africa. In fact anywhere where political uncertainty will lead families to want to protect their wealth.

On the jurisdictions front, there is, and will continue to be, a flight to quality and transparency. As offshore centres get more pressurised, onshore and mid-shore will become even more popular.

Which social media channels do you use and why?

We principally use LinkedIn and Instagram to reach out to our network of intermediaries, to share our vision with the outside world.

Published on Monday, 15 March 2021 in STEP

Accuro wins prestigious Wealthbriefing Swiss Awards 2021

We are delighted to share that Accuro was announced winner at the Wealthbriefing Swiss Awards 2021 in the “Independent Trust or Fiduciary Company” category.

Showcasing ‘best of breed’ providers in the global private banking, wealth management and trusted advisor communities, the awards were designed to recognise companies, teams and individuals which the prestigious panel of judges deemed to have ‘demonstrated innovation and excellence during 2020’.

The judges said: “Accuro recognized the pandemic as an opportunity to invest time and efforts in educating the next generation and in highlighting the topic of mental health, which is particularly important in these times of increased stress and anxiety, resulting in improved client satisfaction and an overall positive impact in the trust industry.”

Natacha Onawelho-Loren, Managing Director of Accuro commented:

“This is a tremendous achievement for the Swiss team in a year which has seen fundamental changes in the way we work with and deliver our services to clients. I am delighted that our efforts to care for our staff while ensuring seamless client service delivery has been recognised.”

Five Accuro team members recognised in the Private Client Global Elite Directory

Accuro is delighted to announce the recognition of five team members in the highly regarded Private Client Global Elite Directory:

Natacha Onawelho-Loren, Managing Director of Accuro Trust Switzerland;

Simon Hart, Legal Director;

Michael Giraud, Client Services Director, Accuro Trust Jersey;

Steve Gully, Client Services Director, Accuro Trust Jersey;

Xavier Isaac, CEO

Since 2017, the Private Client Global Elite serves as a highly respected global directory of the world’s top private client and trust and estates litigation talent, as well as rising stars within the industry.

Natacha Onawelho-Loren

Simon Hart

Xavier Isaac

Unique ownership structure helps Accuro champion clients’ interests

What sets you apart from your peers this year and why?

2020 has been our best year ever since the launch of Accuro despite the pandemic. This was made possible by switching in early March seamlessly into remote protocols, before lockdown had even begun in Switzerland. Client service continuity was assured and new business development initiatives were launched, like virtual meetings with potential clients and their advisors, and the release of a series of short films made in-house on core know-how and private client innovation topics. We received tens of thousands of views for these across social media channels. In this way we maintained our visibility in the market and won significant “virtual” pitches from leading law firms and private banks around the world.

In addition, we effected some very fundamental changes to our group ownership structure. It started in January when management re-invested in Accuro, following the buy-out of our 30 per cent investor in order to secure complete ownership of our firm for the long-term. Subsequently we launched a new Employee Benefit Trust (EBT) for the benefit of all our staff. Nowadays, we are proud to be 100 per cent owned by our management and staff alone. We have no outside investors. This empowers us to agile decision making, entrepreneurialism and putting our clients’ interests first. This unique ownership structure will ensure stability of staff, continuity of client services and the future succession of our business from within.

Concurrently, we redefined our purpose as being a positive force for families, society and the environment, by protecting legacy and wealth.

How have your colleagues contributed towards the success of your organisation?

Their individual and collective contribution has been phenomenal throughout the year. They are the business! Each of them is a proud ambassador of the Accuro brand and culture. This is why investing in our staff through our EBT and developing them through our Accuro Academy is so critical. At Accuro, we are firmly of the view that happy employee make happy client.

What are you going to do to stay on the front foot in a fast-growing but also challenging region such as this?

We believe in purpose-driven growth inspiring our staff and clients alike, built on strong foundations and with a clear sense of direction. We follow carefully world mega-trends and geopolitics impacting us as a firm, but more importantly our clients, and these inform our strategic direction. We are keen to learn from other industries, sectors and the academic world, in areas like leadership and organizational development, mental-health which was a key factor in 2020 and well-being, so that we can constantly stay ahead of the game.

Of course we keep at all times the clients and the staff at the heart of our business model, whilst taking into account other stakeholders like our local communities, the environment and the society at large.

What have been the challenges you have had to overcome to reach such a standard?

We strive to be the best trust company in Switzerland, whilst at the same time being a force for good for the planet and the society. Doing both is a journey that hasn’t been easy. As a firm operating in the offshore trust industry and dealing with wealthy families, our search for a sense of purpose in the way we deploy our core activities hasn’t been obvious. But we are getting there and have launched a fascinating project last year for that purpose. Hopefully I will be able to tell you more about it in the course of this year. Our colleagues are very engaged in this process, which makes me happy.

Whom do you look to for inspiration and ideas?

No one in particular, in our industry you have to keep on being curious, passionate. I am always looking for something new to learn and potentially integrate in my thinking to advance Accuro and the manner in which I can service my clients and lead my team.

What do you hope will be the result of receiving this accolade? How does it help your business in this region?

Further strengthening our brand recognition and trust, leading in turn to new mandates. In a virtual world, trust is more than ever the key component of doing business in our space.

Published on February 2021 in Acclaim Magazine, P.7

Milestone Third STEP Private Client Award For Accuro

Leading independent private client trustee Accuro is celebrating its landmark third win of the Trust Company of the Year (midsize firm) category at the STEP 2020/21 Private Client Awards.

The award announcements, hosted by STEP, the global professional association that promotes excellence for private client professionals, took place virtually on 9 December 2020.

The STEP awards have been compared to the ‘Oscars’ of the private client industry by insiders. Nominees are subjected to a rigorous, practitioner-led judging process that scrutinizes their performance, values and contribution.

This is a notable win for Accuro: during the last four years Accuro have won the top award in their category three times out of four (and were shortlisted on the fourth occasion).

This spirited run of success marks a period of impressive growth and determined independence for Accuro. Bucking the trends of institutional ownership, the firm has this year bought out its private investor, made confident senior hires and become fully owned by all of its management team and staff.

The Judges noted: “Accuro’s global scope and expertise with diverse and complex assets, coupled with a service model that ensures quality and personal engagement and a focus on providing meaningful work and development resources to its team, really sets it apart.”

Xavier Isaac, co-founder and CEO of Accuro commented: “STEPs leadership in our sector is invaluable. Their championing of an expanded and inclusive virtual platform for these awards proves that. It was a delight to share the occasion with our global staff online live and to celebrate with our peers – not least of all because of the crisis our community, society and industry has endured in this extraordinary year. The way we have all come together to protect our families, clients and colleagues means we can all be proud. We are honored to accept the award, to dedicate it to our staff and we vow to direct even more of our collective efforts next year towards responsible stewardship of wealth and care for our people and planet.”

Accuro’s success stems from going against the grain

WealthBriefing’s Tom Burroughes talks to Paul Douglas, Managing Director at Accuro Trust (Jersey) Ltd, about the firm’s success.

What sets you apart from your peers this year and why?

Accuro is a management-owned fiduciary business. Our clients are UHNW families and entrepreneurs, with diverse portfolios and complex structures. Our $14bn of assets under administration range from securities’ portfolios and industrial concerns to luxury assets. This January we re-invested in our business, buying out our 30% investor, to secure complete control of our firm. This move has gone against the trend of the fiduciary industry, which has continued to gravitate towards institutional and listed ownership. Our re-investment of capital into the business (rather than cash extraction) evidences our commitment to a “no-exit plan” strategy. Our long-term commitment and emphasis on relationships reassures our clients. It also demonstrates that notwithstanding the dramatic change in economic conditions this year, we continue to prioritise relationships that are meaningful and not motivated by short-term gain. This year has seen us compete and win against other firms that far exceed our size. We have also been honoured that this year in particular, existing clients have consolidated their wealth with Accuro such that we have become their de facto private office.

How have your colleagues contributed to the success of your organisation?

Our team members all come from diverse backgrounds, but we all have common values. We are proud of having decade-plus retention rates. This reassures our clients with continuity of service, a deep understanding of their circumstances and consequently mutual trust and respect. All of our equity holders lead and deliver our client service. There are no passive investors nor speculators in our ownership – our equity is fully owned by our team (including in part, all of our staff, through an employee benefit trust) and our team collaborate to constantly reinforce our client’s trust in us. Our administrators have a cap of twenty clients each, ensuring quality not quantity. Our professional network has grown substantially this year, as we have invested in organic growth of private office and corporate services for our clients. Our success is entirely attributable to the efforts of our team and the trust of our clients, as well as the proximity and productivity of our close working relationships with the leading independent private client advisors we collaborate with. Those advisors draw energy from a unifying vision of client service and excellence demonstrated by our staff. It is also important to note that we choose to define success not only through profitability and relationships, but also by ensuring we are committed to fulfilling our responsibilities. These include responsibilities to our local community, our charity partners and local sporting events. During the pandemic lockdown we responded by funding, from our own pockets, wellbeing and mental health awareness and coping sessions for our community partners and their teams. This was in addition to our local societal efforts with vulnerable groups, managed entirely by our colleagues and reflective of their passion and commitment for our success in all its forms.

What will you do to keep the standard of an award winner and push ahead in the future?

Accuro’s vision is to be a force for good socially and environmentally, whilst doing well as a business. Our aim is to raise awareness and to facilitate responsible wealth and legacy, including addressing inequality and the crisis our planet faces.

We have continued to invest in our colleagues via our “Accuro Academy” which has delivered individual coaching, in-house mentoring, mental health seminars and a leadership development programme.

Awareness of this investment in staff has seen employment applications to us consequently soar. Over 80% of our front office staff are fully qualified as STEP members, accountants, solicitors and barristers, Chartered Secretaries and Chartered Tax Advisors.

What have been the challenges you have overcome to reach such a standard?

We have maintained our niche focus exclusively on the international private client sector and that in turn has helped us win a higher calibre of client with larger portfolios of assets and more complex, demanding structures. Private clients are the very people who have an ability to add tremendous value to all areas of society by giving back and making a tangible difference to their local and international communities. Other firms have grown through book acquisition or merger. We have funded our own organic growth from the revenues of our business. We have had to work harder to build our success story and to back ourselves without raising funds from the capital markets. Our diligent and dynamic approach demands that we consider our regulatory position and risk profile throughout all of our work. We adhere to the strictest standards but do not shy away from dynamic and agile solutions. We always maintain a long-term focus and that often brings with it the challenge of not being distracted by short term pressures.

Whom do you look to for inspiration and ideas?

As an organisation we look beyond our industry and are motivated and driven by those leaders who have made a marked change to the world. We are inspired by the United Nations sustainability development goals and are constantly looking at ways in which we as an organisation can align ourselves with such. We also take inspiration from our clients who include captains of industry and renowned philanthropists seeking to better the lives of their next generations and their environment. Our learning culture drives each person within the organisation to constantly grow and seek out new ideas to improve themselves and Accuro.

What do you hope will be the result of receiving this accolade? How does it help your business in the region?

We are honoured by this very reputable industry recognition. The robustness of the judging process gives credence to the steps we have taken to deliver high quality services to our clients and the positive working environment we have created for our team. This will no doubt resonate with prospective clients and employees who may be considering Accuro as a firm with which they may wish to be associated.

ACCLAIM | WealthBriefing Recognises Leaders Across the Global Wealth Management Industry, November 2020

Stephanie Toal winner at the Jersey Finance Rising Stars 2020 Awards!

Accuro Trust Jersey is very proud to announce that Stephanie Toal, Central Administrative Support, has won the Jersey Finance Rising Stars 2020 Awards in the “Operations” category.

This inaugural event which took place virtually on Friday 13^th November and was hosted by ITV Journalist, Alexandra Spiceley, showcased the industry’s support for young professionals. Over 150 professionals between the ages of 16 and 30 have been nominated in 12 different categories and those shortlisted were selected by a panel of independent judges.

Marc Pullman, COO of Accuro Group said: “Stephanie has proven to be invaluable to the Accuro Business through her enthusiastic, energetic and engaging teamwork but equally as important, she delivers excellent client service while exceeding in all of the core values that we at Accuro stand by.”

Accuro Trust Jersey winner of the Leaders in WellBeing Awards 2020 in the Mental Health category

We are delighted to announce that Accuro Trust Jersey was chosen as the Winner of the Mental Health Award on the occasion of the Leaders in WellBeing Awards 2020 which took place virtually on Friday 6th November 2020.

‘Leaders in WellBeing’ celebrates the wellbeing related activities of organisations and individuals primarily in the Channel Islands; including corporates, entrepreneurs, health and wellbeing practitioners, government bodies, departments and schools, charities and not-for-profit organisations.

Paul Douglas, Managing Director of Accuro Trust Jersey said: “We at Accuro in Jersey are absolutely delighted with this award, particularly as this is the second time that we have won in this category. When considering the spike in mental health issues in society caused by the COVID pandemic we are very pleased that we invested early in this important area. We are honoured that our efforts have been recognised by the judges again. It is also wonderful to have been shortlisted for another three of this year’s WellBeing awards. As an organisation we place a lot of emphasis on the various strands of wellbeing and this in turn pays back to the business tenfold. Our team are much healthier, engaged and energised which certainly benefits our clients and intermediaries.”

STEP 60-second interview with Paul Douglas

What does your firm or employer do, and what is your role there?

Accuro operates a multi-jurisdictional Trust and Private Office business, to care for and protect families and their wealth for the long term. I am one of the founding partners, a board member, and Managing Director of the Jersey office, where I’m involved in our business growth strategy.

What is the most important thing STEP does, in your opinion?

STEP’s role in constantly developing industry standards through information sharing, representation and education.

You are one of the judges at this year’s STEP Private Client Awards in December. What led you to get involved?

I was delighted to have been selected as a judge, after Accuro was either nominated for, or won, Trust Company of the year (Midsize) for each of the last three years.

What do you think makes a good Private Client Awards submission?

I would say an entry that directly answers the question with substantiated facts, and in particular reflects how the business brings innovation to our industry.

What do you most like about your job?

While the private client industry is perpetually evolving, in many respects, the issues surrounding the succession of wealth across families remain the same. I find it highly motivating to help clients’ families to navigate global complexities, and work with our team to build a business to meet these challenges.

What would you say to a young person thinking of a career in this industry?

The fiduciary industry is multi-faceted and offers many options. By choosing an area you most enjoy, you will inevitably excel, and derive job satisfaction. Find the right firm – I’d recommend one that places an emphasis on continued education (and ideally is a STEP Employer Partner), recognises the importance of work-life balance, and has a culture of doing things right first time.

Which sectors are likely to see the strongest future growth, do you think?

The private client industry continues to see rapid transformation. Many trust and fiduciary providers have moved away from this sector, owing to perceived higher risk/lower reward. However, the accumulation and transferral of wealth across generations is only going to increase, resulting in a limited pool of top quality service providers to meet demand.

What about jurisdictions?

Private clients are paying much more attention to associating themselves with jurisdictions that have a stringent regulatory framework, a strong wealth management infrastructure and a talent pool that has mastered the issues required to deliver market leading financial services.

What trends do you see in the global private wealth sector at the moment?

International planning has to be bespoke to reflect the cross-jurisdictional nature of families and their assets. However many providers do not wish to accept this, and offer a standardised approach to their administration of structures. Inevitably, this leads to dissatisfied clients; hence the trend towards independent boutique trust companies, single and multi-family offices.

What do you feel are the main challenges facing your organisation at the moment, and how will you deal with them?

Increasing global complexities arising from tax legislation, regulations and transparency initiatives are not necessarily new, but as they evolve, businesses need to constantly adapt to meet these challenges. In addition, the younger generation demands greater social and environmental consciousness from the manufacturers of the goods they consume. As they come into wealth, they will ask the same from their wealth advisors, hence the importance of being able to accompany them when they seek to deploy their wealth in a more sustainable and responsible manner.

We will also have to attract the next generation of talent to work in the industry. This generation seeks a working environment where their values are aligned with those of their employers, and where they can grow as individuals and as professionals.

Which social media channels do you use and why?

LinkedIn for business, Twitter for news and Facebook to connect with family and friends.

Paul Douglas is one of the founders of Accuro, and is the Managing Director of Accuro in Jersey. He has a STEP Advanced Certificate in Family Enterprise Advising.

6 April 2020, Paul Douglas, www.step.org

Accuro Winner of the Who’s Who Legal Switzerland Awards in the “Private Client Trust & Advisory Services Firm of the Year” category

For the second year running Accuro has been named “Private Client Trust & Advisory Services Firm of the Year” at the Who’s Who Legal Switzerland Awards. The Awards ceremony which celebrated the very best of the Swiss legal market was held at the Widder Hotel in Zurich on the 12th of February.

Natacha Onawelho-Loren, Managing Director of Accuro Switzerland says: “Winning this award means a lot to us. I would like to take this opportunity to thank the team who has contributed to this result. The fact that we have won this award for the second year running shows the consistency and quality of our services and further demonstrates Accuro’s leading position in the Swiss market.”

Natacha Onawelho-Loren

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