Delivering Direction and Control – Episode 29

Guest: Geralda Kral, Managing Director and Group Partner at UMA Wealth

In this episode, David WarrenCo-Founder and Chairman of Bridgeford Trust Company – sits down with guest, Geralda Kral – Managing Director and Group Partner at UMA Wealth (Switzerland) AG.

With over 19 years working with high-net-worth families, assisting with succession planning, asset protection, and corporate structuring, Geralda talks about her transition from a big international trust company to UMA Wealth, which she co-founded. As Geralda explains, this transition to a boutique and more nimble service paradigm was timely in light of the fallout resulting from the Pandora Papers and the introduction of CRS. They go on to discuss how the industry continues to battle the negative connotation around wealthy families who are following legal means of privacy, asset protection, and tax planning.

As they continue their conversation, David and Geralda discuss the various reporting regimes, including the Corporate Transparency Act, that are designed to protect the industry as well as the shift and interest in the United States as a tax, privacy, and asset protection haven and how this evolved from a European perspective.