The entrepreneurial drive and innovation that first emerged during the Industrial Revolution is still blazing bright across the UK today as the country looks to a future of technological, scientific and engineering success, fuelled by business founders and owners.

With its in-depth experience of this market, coupled with long-standing global expertise, Julius Baer has successfully tapped into the rich entrepreneurial vein that exists across the UK. The UK wealth market is a competitive industry, but thanks to Julius Baer’s focus on pure wealth management and highly personalised service, the firm is poised to grow its regional footprint further.

“Julius Baer is not a firm for everybody; we do not try and be all things to all people. But what we do, we do exceptionally well,” states David Durlacher, Chief Executive Officer of Julius Baer International Limited and responsible for Julius Baer’s business in the UK and Guernsey. “We have teams across the UK who are close to our clients, their businesses, and their families. Proximity to the country’s numerous innovation hubs is also critical to our success. I see dynamism, cutting-edge start-ups and exciting new business ventures proliferating across the UK.”

The key to success: One focus, one goal

But how does a wealth manager like Julius Baer cater to the needs of these new industry leaders? By having one clear focus: understanding and supporting their wealth needs.

“We deliver the very best in wealth management in the UK,” continues Durlacher, “but our role is also to deliver value beyond wealth itself, much like a wealth architect. We help clients think beyond pure financial objectives to the bigger picture questions: what the purpose of their wealth is, how can they bring in the next generation, and, ultimately, what they want their legacy to be.”

These are not easy questions, and ones that many can find difficult to answer, which is why personal connection and trust are so important when building client relationships. Global expertise and a breadth of insight are also integral to addressing the needs of complex clients like entrepreneurs, where discussions can range from start-up to sale or succession, encompassing the full business life cycle. 

“I can think of several entrepreneur clients who have sold their business. We may not be able to help them with the sale itself but we can help them think through their own purpose, to plan for their own lives and those of their dependants, and to look to what comes next,” says Durlacher. He noted that many clients go on to set up further businesses, as many are serial entrepreneurs.

Equally, those conversations often support clients with questions around succession or entrusting their business to the next generation. “Many people are still unsure about how to have conversations with younger generations around their wealth, or to think through topics like succession,” Durlacher comments, “but we are by their side to help both them and the next generation be wise about wealth, and to plan for the future.”

Regional focus and presence, with global expertise

Julius Baer strives to understand the personal drive and values of its clients and the multitude of concerns that successful entrepreneurs could have. These often vary as much from one person to the next, as they do across regions, which is why an expanding network of local offices is fundamental to the Bank’s success in the UK. 2023 saw the opening of a Newcastle office – the firm’s sixth in the UK ­– to enhance service for clients in North East England, following expansion outside London to Belfast, Edinburgh, Leeds, and Manchester since 2017.

“Julius Baer is in expansionary mode in the UK. However, we have no intention of simply having a name on a brass plaque across different cities. Our goal is to be involved in local communities, and work with people who represent the very best in wealth management and who hold deep regional knowledge,” says Durlacher. “Our job is to understand what is going on in the local economy, as well as to connect clients with the value we can bring through our global presence and international network; to show them the bigger picture we can offer.”

As the global leading Swiss wealth management group, Julius Baer has the international knowledge and experience to differentiate it from local peers. These are increasingly attractive qualities for clients whose businesses operate in multiple countries or wish to expand into new territories, as well as for individuals and families whose lifestyles are far more global than previous generations.

This shift has resulted in wealth that is far more global, bringing with it complexity around taxation, regulation and residency matters, and the requirement that advisers be well-versed in issues affecting clients’ lives wherever they may be, today and in the future.

“Julius Baer has been doing one thing for over 130 years; concentrating solely on looking after our client’s wealth,” states Durlacher. “In that time, we have seen revolutionary changes in business, technology, and society. We have adapted accordingly to remain at the forefront of our industry, and our dedication to serve our clients’ needs and exceed their expectations will remain constant, whatever lies ahead.”