Spear’s Review

Nick Hender has spent more than two decades in wealth management, and the stability that comes with that longevity is, he says, something clients genuinely value. A senior relationship manager at HSBC Private Bank with around £1 billion in assets under management, he says he ‘works with clients whose investable assets typically start from £10 million’, focusing on the upper tier of HSBC’s private banking spectrum.

His client base has evolved over the years. Where once he worked across a broader mix of senior executives and entrepreneurs, today his practice is almost exclusively focused on owner-managed and family businesses dealing with complex issues. 

Those complexities are increasingly related to tax, Hender tells Spear’s. Changes to business property relief and inheritance tax have prompted earlier-stage IHT planning among his clients, particularly around ‘the treatment of private company shareholdings’. Questions of domicile and post-exit tax planning are also becoming more frequent for those approaching a liquidity event, though most of his clients, he notes, ultimately choose to remain in the UK.