Nobody likes life to be complicated, let alone finance. We're looking to change that by putting things simply - making clear what our island's finance industry does and why.
We've worked with experts in our member firms to launch a Put Simply online information hub designed to explain the private wealth sector in plain English.
Those who don't work in the finance industry may not know that Jersey manages £1.3 trillion of wealth- the estimated wealth held in Jersey, which is good for investors, for Jersey and for wider economies.
Some may also not know how this wealth gets to our Island and why clients choose Jersey to set up wealth-holding structures such as trusts, foundations and family offices. Simple answers to these questions can now be found in the Put Simply: Private Wealth hub.
By providing clear, factual information on how the finance industry works we also aim to myth bust common misconceptions about the finance industry.
For example, a common misconception is that trusts are only for the very wealthy, but this is not the case. Trusts play a key role in many aspects of everyday life and people will encounter trusts more often than they realise.
Most company pension schemes are structured as trusts, as well as life insurance policies and charities. All of these are accessed by people around the globe, every day – not just the very wealthy.
The online hub hosts detailed explainers and real-life examples of how Jersey trusts, foundations and family offices support better futures for families, charities and businesses around the world.
Private wealth is just one area of our island's vast finance industry. In 2019, you can look forward to seeing more sectors added to our Put Simply web hub – including funds and capital markets.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.